Spire Inc. $SR Shares Acquired by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC increased its stake in Spire Inc. shares by 44.1% during the 2nd quarter, now owning 0.20% of the company worth approximately $8.42 million.
• Spire reported earnings of $0.01 per share, surpassing estimates, with a quarterly revenue of $421.90 million, up 1.9% year-over-year.
• The company announced a quarterly dividend of $0.785, translating to an annual yield of 3.6% and a payout ratio of 67.82%.

Mutual of America Capital Management LLC increased its stake in shares of Spire Inc. (NYSE:SR - Free Report) by 44.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,370 shares of the utilities provider's stock after purchasing an additional 35,310 shares during the quarter. Mutual of America Capital Management LLC owned 0.20% of Spire worth $8,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allianz Asset Management GmbH grew its stake in Spire by 4,909.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 280,025 shares of the utilities provider's stock worth $20,439,000 after purchasing an additional 274,435 shares in the last quarter. Bayforest Capital Ltd grew its stake in Spire by 840.9% during the 2nd quarter. Bayforest Capital Ltd now owns 6,464 shares of the utilities provider's stock worth $472,000 after purchasing an additional 5,777 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Spire during the 2nd quarter worth $599,000. CWM LLC grew its stake in Spire by 19.7% during the 2nd quarter. CWM LLC now owns 19,723 shares of the utilities provider's stock worth $1,440,000 after purchasing an additional 3,241 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Spire by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,974 shares of the utilities provider's stock worth $655,000 after purchasing an additional 1,018 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Spire Stock Up 2.3%

Shares of NYSE SR opened at $87.33 on Tuesday. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.37 and a quick ratio of 0.27. The business has a 50-day moving average of $78.67 and a two-hundred day moving average of $76.15. Spire Inc. has a 1 year low of $61.87 and a 1 year high of $87.42.

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 the consensus estimate of ($0.09) by $0.10. Spire had a return on equity of 8.66% and a net margin of 11.56%.The business had revenue of $421.90 million during the quarter, compared to the consensus estimate of $417.27 million. During the same period in the previous year, the business earned ($0.14) EPS. The business'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. On average, analysts forecast that Spire Inc. will post 4.5 earnings per share for the current fiscal year.

Spire Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, September 11th. Spire's payout ratio is presently 67.82%.

Wall Street Analyst Weigh In

SR has been the subject of several analyst reports. UBS Group boosted their target price on Spire from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Jefferies Financial Group raised Spire to a "strong-buy" rating in a research note on Tuesday, October 7th. Bank of America reaffirmed an "underperform" rating and set a $76.00 price target (down from $81.00) on shares of Spire in a report on Friday, August 15th. Morgan Stanley decreased their price target on Spire from $81.00 to $76.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Spire in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Spire currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.36.

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.

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