Hsbc Holdings PLC Sells 3,756 Shares of Spire Inc. $SR

Key Points

• Hsbc Holdings PLC reduced its stake in Spire Inc. by 47.6%, now holding 4,143 shares valued at $324,000 after selling 3,756 shares during the first quarter.
• Spire recently reported a quarterly earnings per share of $0.01, exceeding consensus estimates, with revenue of $421.90 million, a 1.9% year-over-year increase.
• The company has announced a quarterly dividend of $0.785 per share, with a 4.2% yield, to be paid on October 2nd for investors of record on September 11th.

Hsbc Holdings PLC trimmed its stake in Spire Inc. (NYSE:SR - Free Report) by 47.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,143 shares of the utilities provider's stock after selling 3,756 shares during the quarter. Hsbc Holdings PLC's holdings in Spire were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Spire Stock Performance

SR traded up $0.21 during midday trading on Tuesday, reaching $75.23. The company's stock had a trading volume of 31,020 shares, compared to its average volume of 450,252. The company has a fifty day simple moving average of $75.56 and a 200 day simple moving average of $75.41. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.08. Spire Inc. has a twelve month low of $61.56 and a twelve month high of $79.81. The stock has a market cap of $4.44 billion, a P/E ratio of 16.23, a PEG ratio of 2.46 and a beta of 0.70.

Spire (NYSE:SR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.01 EPS for the quarter, topping 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 company 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 company earned ($0.14) EPS. The company's quarterly revenue was up 1.9% on a year-over-year basis. Spire has set its FY 2025 guidance at 4.400-4.60 EPS. Research analysts expect that Spire Inc. will post 4.5 earnings per share for the current year.

Spire Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.785 dividend. The ex-dividend date is Thursday, September 11th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.2%. Spire's dividend payout ratio (DPR) is currently 67.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $81.00 price target on Spire and gave the stock a "hold" rating in a research note on Tuesday, July 15th. Bank of America reaffirmed 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. JPMorgan Chase & Co. cut their price target on Spire from $85.00 to $83.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Finally, Morgan Stanley reissued an "underperform" rating on shares of Spire in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $79.20.

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.