Edgestream Partners L.P. Boosts Holdings in Spire Inc. $SR

Key Points

• Edgestream Partners L.P. increased its Spire stake by 226.5% in the first quarter, adding 87,036 shares to hold 125,465 shares worth approximately $11.36 million. Institutional investors collectively own 87.36% of Spire.
• Spire reported quarterly EPS of $3.76, exceeding analysts’ $3.72 estimate, while revenue reached $1.02 billion and rose 4.5% year over year. Shares opened at $80.91, compared with a consensus analyst price target of $94.50.
• Analyst sentiment remains positive, with ratings including two Strong Buys and five Buys, although insider activity was mixed: a director purchased 500 shares, while a senior vice president sold 3,822 shares.

Edgestream Partners L.P. boosted its holdings in Spire Inc. (NYSE:SR - Free Report) by 226.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,465 shares of the utilities provider's stock after acquiring an additional 87,036 shares during the period. Spire accounts for about 0.4% of Edgestream Partners L.P.'s portfolio, making the stock its 26th largest holding. Edgestream Partners L.P. owned approximately 0.21% of Spire worth $11,360,000 at the end of the most recent quarter.

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

Spire Price Performance

SR stock opened at $80.91 on Thursday. The business's 50-day moving average is $80.90 and its two-hundred day moving average is $86.05. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.55 and a quick ratio of 0.48. The firm has a market capitalization of $4.78 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.84 and a beta of 0.52. Spire Inc. has a 1 year low of $72.82 and a 1 year high of $95.31.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $3.76 EPS for the quarter, topping analysts' consensus estimates of $3.72 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.07 billion. Spire had a return on equity of 9.49% and a net margin of 13.97%.The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.60 earnings per share. Analysts anticipate that Spire Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul D. Koonce acquired 500 shares of the company's stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $78.46 per share, with a total value of $39,230.00. Following the transaction, the director owned 8,000 shares in the company, valued at approximately $627,680. This trade represents a 6.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ryan L. Hyman sold 3,822 shares of Spire stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total transaction of $307,709.22. Following the sale, the senior vice president directly owned 14,295 shares of the company's stock, valued at approximately $1,150,890.45. This trade represents a 21.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 3,000 shares of company stock worth $251,100. Insiders own 2.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SR shares. Morgan Stanley restated an "overweight" rating on shares of Spire in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $85.00 target price (up from $84.00) on shares of Spire in a research report on Friday, June 26th. Wells Fargo & Company initiated coverage on shares of Spire in a research report on Monday, May 11th. They set an "overweight" rating and a $96.00 price target on the stock. Weiss Ratings upgraded shares of Spire from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Finally, Wolfe Research assumed coverage on shares of Spire in a research note on Tuesday, May 26th. They set a "peer perform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Spire has an average rating of "Moderate Buy" and a consensus price target of $94.50.

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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