Bank of America Corp DE Acquires Shares of 370,977 Spire Inc. $SR

Key Points

• Bank of America acquired 370,977 Spire shares worth approximately $28.97 million, representing about 0.63% of the utility company; institutional investors collectively own 87.36% of Spire.
• Spire reported quarterly revenue of $420.2 million and adjusted earnings of a $0.26 loss per share, beating analyst expectations, while revenue increased 19.2% year over year. Management maintained fiscal 2026 EPS guidance of $3.90–$4.10.
• Spire declared a quarterly dividend of $0.825 per share, equal to an annualized $3.30 payout and a 4.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $93.73, versus a recent share price of $78.57.

Bank of America Corp DE bought a new position in shares of Spire Inc. (NYSE:SR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 370,977 shares of the utilities provider's stock, valued at approximately $28,970,000. Bank of America Corp DE owned about 0.63% of Spire at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. MV Capital Management Inc. bought a new position in shares of Spire in the fourth quarter worth about $33,000. SHP Wealth Management bought a new stake in shares of Spire during the 4th quarter valued at approximately $35,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Spire during the 1st quarter valued at approximately $43,000. Caitong International Asset Management Co. Ltd increased its position in Spire by 900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 540 shares of the utilities provider's stock worth $45,000 after purchasing an additional 486 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Spire during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 87.36% of the company's stock.

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Spire Trading Down 1.5%

NYSE SR opened at $78.57 on Wednesday. The business has a 50 day simple moving average of $81.71 and a 200 day simple moving average of $84.66. The stock has a market capitalization of $4.64 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.78 and a beta of 0.54. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.37 and a quick ratio of 0.27. Spire Inc. has a one year low of $75.85 and a one year high of $95.31.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.06. The firm had revenue of $420.20 million for the quarter, compared to analyst estimates of $394.62 million. Spire had a net margin of 21.48% and a return on equity of 8.65%. The business's quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. Spire has set its FY 2026 guidance at 3.900-4.100 EPS. Research analysts expect that Spire Inc. will post 4.01 earnings per share for the current year.

Spire Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, September 11th. Spire's dividend payout ratio (DPR) is 36.79%.

Analyst Ratings Changes

SR has been the subject of a number of research reports. BTIG Research reiterated a "buy" rating and issued a $102.00 price target on shares of Spire in a research note on Monday. Morgan Stanley reduced their price objective on Spire from $91.00 to $88.00 and set an "overweight" rating on the stock in a research report on Friday. Wolfe Research began coverage on Spire in a report on Tuesday, May 26th. They issued a "peer perform" rating for the company. Wall Street Zen raised Spire from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded Spire from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.73.

Spire Profile

Spire Inc is an energy company headquartered in St. Louis, Missouri. Through its regulated utility operations, the company distributes natural gas to residential, commercial and industrial customers in Missouri and Alabama, serving communities through local natural gas infrastructure and related customer services.

Spire also operates businesses involved in natural gas marketing, storage and pipeline transportation. These operations support the company's utility activities and provide natural gas supply, logistics and infrastructure services to utilities, commercial and industrial customers, and other market participants.

The company traces its history to 1857, when it was established as Laclede Gas Company.

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