DRW Securities LLC Makes New Investment in Spire Inc. $SR

Key Points

• DRW Securities LLC has invested $1.57 million in Spire Inc. by acquiring 20,000 shares, as noted in their recent SEC filing.
• Spire reported earnings of $0.01 per share for the last quarter, beating analysts' expectations and showing a year-over-year revenue increase of 1.9%.
• The company recently announced a quarterly dividend of $0.785, with a dividend yield of 4.1% and a payout ratio of 67.82%.

DRW Securities LLC bought a new position in Spire Inc. (NYSE:SR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,000 shares of the utilities provider's stock, valued at approximately $1,565,000.

Several other hedge funds have also made changes to their positions in the business. Baird Financial Group Inc. boosted its holdings in shares of Spire by 0.6% during the first quarter. Baird Financial Group Inc. now owns 118,811 shares of the utilities provider's stock worth $9,297,000 after purchasing an additional 691 shares during the last quarter. Ieq Capital LLC grew its holdings in Spire by 9.6% in the 1st quarter. Ieq Capital LLC now owns 6,354 shares of the utilities provider's stock valued at $497,000 after buying an additional 555 shares during the period. Jane Street Group LLC purchased a new stake in Spire in the 1st quarter valued at about $9,636,000. Walleye Capital LLC grew its holdings in Spire by 5.2% in the 1st quarter. Walleye Capital LLC now owns 4,352 shares of the utilities provider's stock valued at $341,000 after buying an additional 214 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Spire in the first quarter worth approximately $1,654,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an "underperform" rating on shares of Spire in a report on Wednesday, June 18th. JPMorgan Chase & Co. reduced their target price on Spire from $85.00 to $83.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th. Bank of America restated an "underperform" rating and set a $76.00 price target (down from $81.00) on shares of Spire in a research note on Friday, August 15th. Stifel Nicolaus set a $81.00 target price on Spire and gave the stock a "hold" rating in a report on Tuesday, July 15th. Finally, LADENBURG THALM/SH SH upgraded shares of Spire to a "strong-buy" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $79.20.

Spire Stock Down 1.4%

NYSE:SR traded down $1.05 on Wednesday, reaching $74.89. The stock had a trading volume of 450,387 shares, compared to its average volume of 415,792. Spire Inc. has a 12-month low of $61.56 and a 12-month high of $79.81. The stock has a market cap of $4.42 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average of $75.44 and a 200 day moving average of $75.38.

Spire (NYSE:SR - Get Free Report) last issued 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 return on equity of 8.66% and a net margin of 11.56%.The firm had revenue of $421.90 million during the quarter, compared to the consensus estimate of $417.27 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Spire's revenue for the quarter was up 1.9% on a year-over-year basis. Spire has set its FY 2025 guidance at 4.400-4.60 EPS. On average, research 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 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 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Thursday, September 11th. Spire's dividend payout ratio (DPR) is currently 67.82%.

Spire Company 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.