James Investment Research Inc. reduced its stake in Spire Inc. (NYSE:SR) by 60.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,260 shares of the utilities provider’s stock after selling 3,525 shares during the period. James Investment Research Inc.’s holdings in Spire were worth $158,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock valued at $108,000 after buying an additional 407 shares during the period. Envestnet Asset Management Inc. boosted its position in Spire by 86.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,200 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,019 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock valued at $223,000 after buying an additional 255 shares during the period. Everence Capital Management Inc. bought a new position in Spire during the first quarter valued at $242,000. Finally, Creative Planning boosted its position in Spire by 6.1% in the second quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock valued at $267,000 after buying an additional 220 shares during the period. Institutional investors own 78.59% of the company’s stock.
Shares of Spire Inc. (SR) traded up 0.13% on Friday, reaching $75.85. 126,311 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $72.50 and a 200 day moving average price of $69.10. Spire Inc. has a one year low of $59.54 and a one year high of $76.80. The firm has a market cap of $3.66 billion, a PE ratio of 21.92 and a beta of 0.33.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The business had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. Analysts expect that Spire Inc. will post $3.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s dividend payout ratio is currently 60.17%.
Several research analysts recently weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price objective on shares of Spire in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Spire from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Morgan Stanley increased their price target on shares of Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $71.00 price target on shares of Spire in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Spire presently has an average rating of “Hold” and a consensus target price of $71.43.
Spire Company Profile
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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