Bank of New York Mellon Corp Purchases Shares of 588,970 Spire Inc. $SR

Key Points

• Bank of New York Mellon acquired 588,970 Spire shares worth approximately $46.0 million, giving it a 1.0% stake. Institutional investors and hedge funds collectively own 87.36% of the utility company.
• Spire reported quarterly revenue of $420.2 million, up 19.2% year over year, and adjusted its fiscal 2026 EPS guidance to $3.90–$4.10. Analysts maintain a “Moderate Buy” consensus with an average price target of $94.
• Spire declared a quarterly dividend of $0.825 per share, equivalent to $3.30 annually and a 4.0% yield at the reported share price.

Bank of New York Mellon Corp acquired a new position in shares of Spire Inc. (NYSE:SR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 588,970 shares of the utilities provider's stock, valued at approximately $45,993,000. Bank of New York Mellon Corp owned 1.00% of Spire as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in Spire by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 40,489 shares of the utilities provider's stock worth $3,348,000 after acquiring an additional 122 shares in the last quarter. Detalus Advisors LLC boosted its position in Spire by 2.3% in the 1st quarter. Detalus Advisors LLC now owns 6,200 shares of the utilities provider's stock valued at $561,000 after buying an additional 142 shares during the last quarter. Inspire Investing LLC boosted its position in Spire by 2.6% in the 4th quarter. Inspire Investing LLC now owns 5,734 shares of the utilities provider's stock valued at $474,000 after buying an additional 144 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Spire by 40.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 519 shares of the utilities provider's stock worth $43,000 after acquiring an additional 149 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Spire by 16.5% in the fourth quarter. Parallel Advisors LLC now owns 1,136 shares of the utilities provider's stock worth $94,000 after acquiring an additional 161 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Spire Price Performance

SR opened at $82.59 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.61. The company's 50-day moving average price is $81.00 and its 200 day moving average price is $85.78. Spire Inc. has a fifty-two week low of $73.91 and a fifty-two week high of $95.31. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 1.87 and a beta of 0.52.

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

Spire Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.30 annualized dividend and a yield of 4.0%. Spire's dividend payout ratio is presently 36.79%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SR. UBS Group cut their target price on Spire from $106.00 to $103.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company began coverage on shares of Spire in a report on Monday, May 11th. They set an "overweight" rating and a $96.00 price objective for the company. Weiss Ratings raised shares of Spire from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. BTIG Research set a $101.00 target price on shares of Spire in a research note on Thursday, July 23rd. Finally, Mizuho started coverage on shares of Spire in a research report on Tuesday, July 7th. They set an "outperform" rating and a $88.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Spire currently has an average rating of "Moderate Buy" and an average price target of $94.00.

Insider Activity

In related news, Director Paul D. Koonce acquired 500 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $78.46 per share, for a total transaction of $39,230.00. Following the completion of the acquisition, the director directly owned 8,000 shares of the company's stock, valued at approximately $627,680. The trade was a 6.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ryan L. Hyman sold 3,822 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total value of $307,709.22. Following the completion of the sale, the senior vice president owned 14,295 shares of the company's stock, valued at $1,150,890.45. This trade represents a 21.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.26% of the company's stock.

Spire Company Profile

Spire Inc NYSE: SR, formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.

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