Zimmer Partners LP Sells 4,902 Shares of Spire Inc. $SR

Key Points

• Zimmer Partners LP reduced its holdings in Spire Inc. by 1.1%, now owning 438,598 shares worth approximately $34.32 million.
• Spire recently reported a quarterly earnings per share (EPS) of $0.01, surpassing analysts' expectations of ($0.09), with a revenue of $421.90 million for the quarter.
• The company announced a quarterly dividend of $0.785, representing a 4.2% dividend yield, with the ex-dividend date set for September 11th.

Zimmer Partners LP reduced its position in Spire Inc. (NYSE:SR - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 438,598 shares of the utilities provider's stock after selling 4,902 shares during the quarter. Zimmer Partners LP owned approximately 0.74% of Spire worth $34,320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC lifted its position in Spire by 1.7% in the first quarter. Cornerstone Wealth Management LLC now owns 7,870 shares of the utilities provider's stock worth $616,000 after purchasing an additional 133 shares during the period. UMB Bank n.a. lifted its position in Spire by 3.2% in the first quarter. UMB Bank n.a. now owns 4,915 shares of the utilities provider's stock worth $385,000 after purchasing an additional 151 shares during the period. Signaturefd LLC raised its stake in Spire by 21.7% during the first quarter. Signaturefd LLC now owns 914 shares of the utilities provider's stock worth $72,000 after acquiring an additional 163 shares in the last quarter. Mackenzie Financial Corp raised its stake in Spire by 5.5% during the first quarter. Mackenzie Financial Corp now owns 3,672 shares of the utilities provider's stock worth $287,000 after acquiring an additional 193 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Spire by 4.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,210 shares of the utilities provider's stock worth $408,000 after acquiring an additional 214 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Spire Price Performance

Shares of NYSE:SR traded down $0.13 during midday trading on Friday, reaching $76.10. The company's stock had a trading volume of 523,639 shares, compared to its average volume of 391,986. Spire Inc. has a fifty-two week low of $61.56 and a fifty-two week high of $79.81. The company has a market capitalization of $4.49 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.48 and a beta of 0.70. 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's fifty day simple moving average is $75.74 and its 200-day simple moving average is $75.41.

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

Spire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, September 11th. Spire's dividend payout ratio (DPR) is presently 67.82%.

Analyst Ratings Changes

Several research firms have issued reports on SR. Morgan Stanley reiterated an "underperform" rating on shares of Spire in a research note on Wednesday, June 18th. JPMorgan Chase & Co. dropped their price objective on Spire from $85.00 to $83.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Bank of America reiterated an "underperform" rating and set a $76.00 price objective (down from $81.00) on shares of Spire in a research note on Friday, August 15th. Finally, Stifel Nicolaus set a $81.00 price objective on Spire and gave the stock a "hold" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $79.20.

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.