Nisa Investment Advisors LLC lessened its holdings in shares of Spire Inc. (NYSE:SR - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,875 shares of the utilities provider's stock after selling 3,507 shares during the quarter. Nisa Investment Advisors LLC's holdings in Spire were worth $622,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC acquired a new stake in Spire during the 1st quarter worth $318,000. M&T Bank Corp acquired a new stake in Spire during the 1st quarter worth $207,000. OLD Republic International Corp boosted its stake in Spire by 1.0% during the 1st quarter. OLD Republic International Corp now owns 433,500 shares of the utilities provider's stock worth $33,921,000 after purchasing an additional 4,500 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Spire by 4.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,210 shares of the utilities provider's stock worth $408,000 after purchasing an additional 214 shares during the last quarter. Finally, Principal Financial Group Inc. boosted 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 purchasing an additional 4,576 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.
Spire Stock Up 0.5%
Spire stock traded up $0.37 during mid-day trading on Friday, hitting $75.78. The company had a trading volume of 46,732 shares, compared to its average volume of 411,563. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.58 and a beta of 0.62. Spire Inc. has a 1 year low of $61.56 and a 1 year high of $79.81. The company has a quick ratio of 0.34, a current ratio of 0.43 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average of $73.81 and a 200 day moving average of $73.87.
Spire (NYSE:SR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.10). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.15 billion. Spire had a net margin of 10.22% and a return on equity of 8.49%. Spire's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.45 earnings per share. On average, sell-side analysts expect that Spire Inc. will post 4.5 earnings per share for the current fiscal year.
Spire Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, April 11th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Wednesday, June 11th. Spire's payout ratio is currently 77.34%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on SR. Wall Street Zen raised shares of Spire from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley reissued an "underperform" rating on shares of Spire in a research report on Wednesday, June 18th. JPMorgan Chase & Co. lowered their price target on shares of Spire from $85.00 to $83.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Stifel Nicolaus set a $81.00 price target on shares of Spire and gave the company a "hold" rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Spire from $75.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Spire presently has a consensus rating of "Hold" and a consensus price target of $78.60.
Check Out Our Latest Stock Analysis on Spire
About Spire
(
Free Report)
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.
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