Bayforest Capital Ltd Grows Holdings in Spire Inc. $SR

Key Points

• Bayforest Capital Ltd has significantly increased its stake in Spire Inc. by 840.9% during the second quarter, owning 6,464 shares valued at approximately $472,000.
• Spire's recent quarterly earnings showed a profit margin of 11.56% and revenue of $421.90 million, surpassing analysts' estimates and marking a year-on-year revenue increase of 1.9%.
• The company recently paid a quarterly dividend of $0.785 per share, translating to an annualized dividend yield of 3.7% and a payout ratio of 67.82%.

Bayforest Capital Ltd raised its position in shares of Spire Inc. (NYSE:SR - Free Report) by 840.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,464 shares of the utilities provider's stock after purchasing an additional 5,777 shares during the quarter. Bayforest Capital Ltd's holdings in Spire were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of Spire by 103.8% during the 1st quarter. Golden State Wealth Management LLC now owns 803 shares of the utilities provider's stock valued at $63,000 after buying an additional 409 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Spire by 2.6% in the first quarter. Principal Financial Group Inc. now owns 177,950 shares of the utilities provider's stock valued at $13,925,000 after acquiring an additional 4,576 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Spire by 16.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,833 shares of the utilities provider's stock worth $456,000 after acquiring an additional 844 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Spire during the first quarter worth about $216,000. Finally, KBC Group NV raised its stake in Spire by 27.4% during the 1st quarter. KBC Group NV now owns 2,938 shares of the utilities provider's stock valued at $230,000 after purchasing an additional 631 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Spire Stock Performance

Shares of NYSE:SR opened at $83.99 on Wednesday. The firm has a fifty day simple moving average of $77.86 and a two-hundred day simple moving average of $75.95. Spire Inc. has a 52 week low of $61.56 and a 52 week high of $84.07. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $4.96 billion, a P/E ratio of 18.14, a PEG ratio of 2.41 and a beta of 0.69.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. Spire had a net margin of 11.56% and a return on equity of 8.66%. The firm had revenue of $421.90 million during the quarter, compared to the consensus estimate of $417.27 million. During the same quarter last year, the firm earned ($0.14) EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Spire has set its FY 2025 guidance at 4.400-4.60 EPS. On average, analysts expect that Spire Inc. will post 4.5 earnings per share for the current fiscal year.

Spire Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.14 annualized dividend and a dividend yield of 3.7%. Spire's payout ratio is currently 67.82%.

Analyst Ratings Changes

Several research firms have recently issued reports on SR. Weiss Ratings reiterated a "buy (b-)" rating on shares of Spire in a research report on Wednesday, October 8th. Stifel Nicolaus set a $81.00 target price on shares of Spire and gave the company a "hold" rating in a research note on Tuesday, July 15th. UBS Group lifted their price target on shares of Spire from $80.00 to $95.00 and gave the company a "buy" rating in a report on Monday. Bank of America reissued an "underperform" rating and set a $76.00 price objective (down previously from $81.00) on shares of Spire in a report on Friday, August 15th. Finally, Morgan Stanley reduced their target price on Spire from $81.00 to $76.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Spire has a consensus rating of "Moderate Buy" and a consensus target price of $81.36.

Spire Profile

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.

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