Rhumbline Advisers trimmed its position in Spire Inc. (NYSE:SR - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,169 shares of the utilities provider's stock after selling 3,432 shares during the quarter. Rhumbline Advisers owned about 0.35% of Spire worth $15,976,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Spire in the 4th quarter worth approximately $27,000. Lee Danner & Bass Inc. purchased a new stake in Spire during the 4th quarter valued at approximately $32,000. Capital Advisors Ltd. LLC grew its holdings in Spire by 431.4% during the 4th quarter. Capital Advisors Ltd. LLC now owns 627 shares of the utilities provider's stock valued at $43,000 after buying an additional 509 shares in the last quarter. State of Wyoming purchased a new stake in Spire during the 4th quarter valued at approximately $52,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in Spire during the 4th quarter valued at approximately $68,000. 87.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SR. LADENBURG THALM/SH SH raised shares of Spire to a "strong-buy" rating in a report on Friday, May 9th. Morgan Stanley increased their price objective on shares of Spire from $75.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Wells Fargo & Company increased their price objective on shares of Spire from $75.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. 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, Wall Street Zen upgraded Spire from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Spire presently has a consensus rating of "Hold" and a consensus target price of $77.20.
Read Our Latest Stock Report on Spire
Spire Stock Down 0.0%
Shares of SR opened at $73.60 on Friday. The company has a market cap of $4.34 billion, a PE ratio of 17.82, a P/E/G ratio of 2.82 and a beta of 0.63. The business has a fifty day moving average of $75.32 and a 200 day moving average of $73.06. Spire Inc. has a 52-week low of $57.77 and a 52-week high of $79.81. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 1.21.
Spire (NYSE:SR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.70 by ($0.10). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.15 billion. Spire had a return on equity of 7.88% and a net margin of 9.70%. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.45 earnings per share. On average, sell-side analysts expect that Spire Inc. will post 4.5 EPS for the current year.
Spire Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, April 11th will be given a $0.785 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $3.14 dividend on an annualized basis and a yield of 4.27%. Spire's dividend payout ratio is presently 77.34%.
Spire Company Profile
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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.
See Also
Want to see what other hedge funds are holding SR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spire Inc. (NYSE:SR - Free Report).
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