Spire Inc. $SR Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its position in Spire Inc. by 75.6% in the 1st quarter, owning approximately 49,923 shares valued at $3.9 million.
• Several institutional investors, including Golden State Wealth Management LLC and Principal Financial Group Inc., have also boosted their stakes in Spire, reflecting a growing institutional interest in the company.
• Spire recently announced a quarterly dividend of $0.785 per share, yielding 4.1%, with a payout ratio of 67.82% as it prepares for its anticipated fiscal year 2025 earnings guidance.

Intech Investment Management LLC boosted its stake in shares of Spire Inc. (NYSE:SR - Free Report) by 75.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,923 shares of the utilities provider's stock after acquiring an additional 21,495 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Spire worth $3,906,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nuveen LLC bought a new stake in shares of Spire in the 1st quarter worth about $73,254,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Spire in the first quarter worth $69,889,000. Zimmer Partners LP bought a new stake in Spire during the 4th quarter valued at about $30,083,000. Adage Capital Partners GP L.L.C. purchased a new stake in Spire in the 1st quarter valued at about $30,322,000. Finally, Millennium Management LLC grew its stake in Spire by 110.4% in the 1st quarter. Millennium Management LLC now owns 522,323 shares of the utilities provider's stock worth $40,872,000 after acquiring an additional 274,124 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Spire Price Performance

Shares of NYSE SR traded down $1.18 during mid-day trading on Tuesday, reaching $75.01. The company's stock had a trading volume of 403,962 shares, compared to its average volume of 453,042. The stock has a market capitalization of $4.43 billion, a P/E ratio of 16.20, a P/E/G ratio of 2.48 and a beta of 0.70. Spire Inc. has a 1-year low of $61.56 and a 1-year high of $79.81. The stock has a 50-day moving average of $75.81 and a two-hundred day moving average of $75.41. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.27 and a current ratio of 0.37.

Spire (NYSE:SR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. The business had revenue of $421.90 million during the quarter, compared to analyst estimates of $417.27 million. Spire had a return on equity of 8.66% and a net margin of 11.56%.During the same period in the prior year, the business earned ($0.14) earnings per share. The business's revenue 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 research analysts anticipate that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Announces Dividend

The business 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. This represents a $3.14 annualized dividend and a yield of 4.2%. The ex-dividend date is Thursday, September 11th. Spire's dividend payout ratio (DPR) is 67.82%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SR. Bank of America reiterated an "underperform" rating and set a $76.00 target price (down from $81.00) on shares of Spire in a report on Friday, August 15th. JPMorgan Chase & Co. lowered their price target on Spire from $85.00 to $83.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. Stifel Nicolaus set a $81.00 target price on Spire and gave the stock a "hold" rating in a report on Tuesday, July 15th. Finally, Morgan Stanley reaffirmed an "underperform" rating on shares of Spire in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.