Spire Inc. $SR Stock Position Lifted by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Spire position by 20.9% in the third quarter, holding 87,825 shares valued at approximately $6.7 million. Institutional investors collectively own 87.36% of Spire.
• Spire shares opened at $77.81, near the lower end of their 12-month range, while the company reported quarterly revenue growth of 19.2% and earnings that exceeded analyst expectations.
• Spire pays a quarterly dividend of $0.825, equivalent to a 4.2% yield, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $92.50.

Congress Asset Management Co. raised its holdings in shares of Spire Inc. (NYSE:SR - Free Report) by 20.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,825 shares of the utilities provider's stock after purchasing an additional 15,189 shares during the period. Congress Asset Management Co. owned 0.15% of Spire worth $6,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Spire during the 2nd quarter valued at about $667,642,000. Captrust Financial Advisors raised its stake in Spire by 1.7% in the fourth quarter. Captrust Financial Advisors now owns 1,240,395 shares of the utilities provider's stock valued at $102,581,000 after buying an additional 20,224 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Spire by 1.4% in the second quarter. Wellington Management Group LLP now owns 667,616 shares of the utilities provider's stock worth $52,134,000 after acquiring an additional 8,927 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Spire in the second quarter worth about $45,993,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Spire by 0.4% during the first quarter. The Manufacturers Life Insurance Company now owns 479,716 shares of the utilities provider's stock worth $43,433,000 after acquiring an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Spire Stock Down 0.5%

Spire stock opened at $77.81 on Thursday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.37 and a quick ratio of 0.27. The stock has a market capitalization of $4.60 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. The business has a 50 day simple moving average of $80.71 and a 200-day simple moving average of $83.55. Spire Inc. has a 12 month low of $74.84 and a 12 month high of $95.31.

Spire (NYSE:SR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.06. Spire had a net margin of 21.48% and a return on equity of 8.65%. The company had revenue of $420.20 million during the quarter, compared to analyst estimates of $394.62 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm's revenue was up 19.2% compared to the same quarter last year. Spire has set its FY 2026 guidance at 3.900-4.100 EPS. On average, analysts anticipate that Spire Inc. will post 4 EPS for the current fiscal year.

Spire Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a $0.8250 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.30 annualized dividend and a dividend yield of 4.2%. Spire's dividend payout ratio (DPR) is presently 36.79%.

Analyst Ratings Changes

Several research firms have recently commented on SR. Morgan Stanley lowered their price objective on shares of Spire from $91.00 to $88.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. BTIG Research reissued a "buy" rating and issued a $102.00 target price on shares of Spire in a research report on Monday, September 21st. Scotiabank initiated coverage on Spire in a research note on Tuesday, September 29th. They issued a "sector perform" rating and a $79.00 target price for the company. Mizuho started coverage on Spire in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $88.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $85.00 price target (up from $84.00) on shares of Spire in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $92.50.

About Spire

Spire Inc is a diversified natural gas company headquartered in St. Louis, Missouri. Through its regulated utility operations, the company distributes natural gas to residential, commercial, and industrial customers in Missouri and Alabama.

Spire's business includes natural gas distribution, gas storage and transportation, and related energy services. Its operations also include natural gas marketing and midstream activities, which support the delivery and management of natural gas for utility and other customers.

The company traces its history to 1857, when it was established as Laclede Gas Light Company.

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