Commerce Bank Buys 3,372 Shares of Spire Inc. (NYSE:SR)

Key Points

• Commerce Bank has increased its holdings in Spire Inc. by 14.9%, owning 25,944 shares valued at approximately $2.03 million at the end of the first quarter.
• The company announced a quarterly dividend of $0.785 per share, which equates to an annualized dividend of $3.14 and a yield of 4.1%.
• Analysts have mixed opinions on Spire, with multiple brokerages giving it a consensus rating of "Hold" and a target price averaging around $78.60.

Commerce Bank grew its position in Spire Inc. (NYSE:SR - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,944 shares of the utilities provider's stock after purchasing an additional 3,372 shares during the period. Commerce Bank's holdings in Spire were worth $2,030,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Bayforest Capital Ltd boosted its position in shares of Spire by 2,648.0% during the first quarter. Bayforest Capital Ltd now owns 687 shares of the utilities provider's stock worth $54,000 after buying an additional 662 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Spire by 66.0% in the 1st quarter. GAMMA Investing LLC now owns 727 shares of the utilities provider's stock valued at $57,000 after buying an additional 289 shares during the last quarter. State of Wyoming bought a new position in shares of Spire in the 4th quarter valued at about $52,000. Golden State Wealth Management LLC grew its holdings in Spire by 103.8% during the first quarter. Golden State Wealth Management LLC now owns 803 shares of the utilities provider's stock worth $63,000 after purchasing an additional 409 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Spire by 21.7% during the 1st quarter. Signaturefd LLC now owns 914 shares of the utilities provider's stock worth $72,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 87.36% of the company's stock.

Spire Stock Performance

Shares of NYSE:SR traded up $0.05 during mid-day trading on Friday, reaching $75.75. The company had a trading volume of 203,259 shares, compared to its average volume of 457,803. The company's 50-day moving average price is $74.35 and its 200-day moving average price is $74.74. Spire Inc. has a one year low of $61.56 and a one year high of $79.81. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.34 and a beta of 0.66. The company has a current ratio of 0.37, a quick ratio of 0.34 and a debt-to-equity ratio of 1.08.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. The business had revenue of $421.90 million for the quarter, compared to analysts' expectations of $417.27 million. Spire had a return on equity of 8.66% and a net margin of 11.56%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) EPS. As a group, equities research analysts anticipate that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, September 11th. Spire's payout ratio is presently 67.82%.

Analysts Set New Price Targets

SR has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Spire from $75.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Spire from $85.00 to $83.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen raised Spire from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Stifel Nicolaus set a $81.00 price target on Spire and gave the company a "hold" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reiterated an "underperform" rating on shares of Spire in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Spire presently has an average rating of "Hold" and an average price target of $78.60.

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.