TD Asset Management Inc Sells 10,400 Shares of Spire Inc. $SR

Key Points

• TD Asset Management Inc has reduced its stake in Spire Inc. by 22.8%, selling 10,400 shares and now owning 35,200 shares worth approximately $2.57 million.
• Spire's recent earnings showed a net profit of $0.01 EPS, beating expectations and up from a loss of ($0.14 EPS) last year, while revenues increased 1.9% year-over-year.
• The company declared a quarterly dividend of $0.785 per share, with a yield of 3.6%, and a dividend payout ratio of 67.82%.

TD Asset Management Inc reduced its position in Spire Inc. (NYSE:SR - Free Report) by 22.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,200 shares of the utilities provider's stock after selling 10,400 shares during the quarter. TD Asset Management Inc owned about 0.06% of Spire worth $2,569,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Spire by 21.7% in the 1st quarter. Signaturefd LLC now owns 914 shares of the utilities provider's stock valued at $72,000 after buying an additional 163 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Spire by 5.5% in the 1st quarter. Mackenzie Financial Corp now owns 3,672 shares of the utilities provider's stock valued at $287,000 after purchasing an additional 193 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Spire by 4.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,210 shares of the utilities provider's stock valued at $408,000 after purchasing an additional 214 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Spire by 5.2% in the 1st quarter. Walleye Capital LLC now owns 4,352 shares of the utilities provider's stock valued at $341,000 after purchasing an additional 214 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Spire by 20.5% in the 1st quarter. Blue Trust Inc. now owns 1,305 shares of the utilities provider's stock valued at $102,000 after purchasing an additional 222 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Spire Stock Down 0.2%

NYSE:SR opened at $87.03 on Wednesday. The firm's 50 day simple moving average is $78.88 and its 200 day simple moving average is $76.23. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.37 and a quick ratio of 0.27. Spire Inc. has a one year low of $61.87 and a one year high of $87.64. The company has a market cap of $5.14 billion, a PE ratio of 18.80, a P/E/G ratio of 2.54 and a beta of 0.69.

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

Spire Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Spire in a research note on Tuesday. They issued a "buy" rating and a $99.00 price target on the stock. Morgan Stanley reduced their price target on shares of Spire from $81.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Mizuho raised their price target on shares of Spire from $83.00 to $93.00 and gave the company an "outperform" rating in a research note on Tuesday. Jefferies Financial Group upgraded shares of Spire to a "strong-buy" rating in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus set a $81.00 price target on shares of Spire and gave the company a "hold" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.75.

About Spire

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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