MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 110,284 Shares of Spire Inc. $SR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Spire Inc. by 33.8%, selling 110,284 shares and ending with 216,396 shares worth approximately $16.93 million.
• Multiple institutional investors are adjusting their positions in Spire, with notable increases from Bayforest Capital (up 2,648%) and GAMMA Investing (up 66%).
• Spire reported an earnings per share (EPS) of $0.01, exceeding expectations and setting its FY 2025 guidance at $4.40 to $4.60 EPS.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Spire Inc. (NYSE:SR - Free Report) by 33.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,396 shares of the utilities provider's stock after selling 110,284 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.37% of Spire worth $16,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in Spire by 103.8% during the 1st 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 during the period. Principal Financial Group Inc. raised its stake in Spire by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 177,950 shares of the utilities provider's stock worth $13,925,000 after acquiring an additional 4,576 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in 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 acquiring an additional 844 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in Spire during the 1st quarter worth approximately $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 worth $230,000 after acquiring an additional 631 shares during the period. Institutional investors own 87.36% of the company's stock.

Spire Price Performance

SR traded down $0.13 during trading on Friday, reaching $76.10. 523,639 shares of the company traded hands, compared to its average volume of 391,986. The firm has a fifty day simple moving average of $75.74 and a 200 day simple moving average of $75.41. Spire Inc. has a 12-month low of $61.56 and a 12-month high of $79.81. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.27 and a current ratio of 0.37. The company has a market cap of $4.49 billion, a P/E ratio of 16.44, a PEG ratio of 2.48 and a beta of 0.70.

Spire (NYSE:SR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share 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 analyst estimates of $417.27 million. During the same period last year, the firm posted ($0.14) earnings per share. Spire'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, equities analysts forecast that Spire Inc. will post 4.5 EPS for the current year.

Spire Dividend Announcement

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

Wall Street Analysts Forecast Growth

SR has been the topic of a number of recent analyst reports. Bank of America restated an "underperform" rating and set a $76.00 target price (down previously from $81.00) on shares of Spire in a research note on Friday, August 15th. Morgan Stanley reaffirmed an "underperform" rating on shares of Spire in a report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price objective on shares of Spire from $85.00 to $83.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th. Finally, Stifel Nicolaus set a $81.00 price objective on shares of Spire and gave the company a "hold" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell 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 $79.20.

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.