Sourcerock Group LLC Makes New Investment in Spire Inc. (NYSE:SR)

Sourcerock Group LLC acquired a new stake in shares of Spire Inc. (NYSE:SR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 185,265 shares of the utilities provider's stock, valued at approximately $12,567,000. Spire makes up 0.9% of Sourcerock Group LLC's investment portfolio, making the stock its 23rd biggest position. Sourcerock Group LLC owned 0.32% of Spire as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SR. Golden State Wealth Management LLC acquired a new stake in Spire during the fourth quarter valued at approximately $27,000. Lee Danner & Bass Inc. acquired a new stake in shares of Spire during the 4th quarter worth about $32,000. R Squared Ltd acquired a new stake in shares of Spire during the 4th quarter worth about $37,000. Capital Advisors Ltd. LLC increased its position in shares of Spire by 431.4% during the 4th quarter. Capital Advisors Ltd. LLC now owns 627 shares of the utilities provider's stock worth $43,000 after purchasing an additional 509 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Spire during the 4th quarter worth about $52,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Spire Trading Up 1.7%

Spire stock traded up $1.23 during trading hours on Friday, reaching $74.70. 385,455 shares of the company's stock traded hands, compared to its average volume of 394,268. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.37 and a current ratio of 0.50. Spire Inc. has a fifty-two week low of $57.77 and a fifty-two week high of $79.81. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.82 and a beta of 0.65. The firm's 50 day moving average is $75.95 and its 200-day moving average is $72.40.

Spire (NYSE:SR - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.70 by ($0.10). Spire had a net margin of 9.70% and a return on equity of 7.88%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $3.45 earnings per share. The business's revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts predict that Spire Inc. will post 4.5 earnings per share for the current year.

Spire Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, April 11th will be paid a dividend of $0.785 per share. The ex-dividend date is Wednesday, June 11th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.20%. Spire's dividend payout ratio (DPR) is presently 77.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SR shares. Wall Street Zen upgraded shares of Spire from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Mizuho increased their target price on shares of Spire from $76.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Guggenheim boosted their price objective on Spire from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. Morgan Stanley boosted their price objective on Spire from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Finally, LADENBURG THALM/SH SH raised Spire to a "strong-buy" rating in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $77.40.

About Spire

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.