Spire Inc. (NYSE:SR) Plans $0.79 Quarterly Dividend

Key Points

• Spire Inc. declared a quarterly dividend of $0.79 per share, amounting to an annualized dividend of $3.14 with a yield of 4.20%, payable on October 2nd to investors of record on September 11th.
• The company has a dividend payout ratio of 62.1% and analysts predict future earnings of $4.88 per share, suggesting the dividend will remain sustainable.
• Spire's stock showed a 0.9% increase during trading, reaching $74.68, with an average target price from analysts set at $78.60 and a current market cap of $4.41 billion.

Spire Inc. (NYSE:SR - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Thursday, September 11th will be given a dividend of 0.785 per share by the utilities provider on Thursday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Thursday, September 11th.

Spire has a payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Spire to earn $4.88 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 64.3%.

Spire Trading Up 1.8%

NYSE:SR traded up $1.34 on Monday, hitting $75.57. The stock had a trading volume of 54,216 shares, compared to its average volume of 451,375. The company has a quick ratio of 0.34, a current ratio of 0.43 and a debt-to-equity ratio of 1.03. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.32 and a beta of 0.66. The company has a fifty day moving average price of $74.29 and a two-hundred day moving average price of $74.65. Spire has a 1-year low of $61.56 and a 1-year high of $79.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SR. Wellington Management Group LLP boosted its holdings in shares of Spire by 29.0% in the 4th quarter. Wellington Management Group LLP now owns 1,022,870 shares of the utilities provider's stock valued at $69,381,000 after buying an additional 229,662 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Spire by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,002,938 shares of the utilities provider's stock valued at $68,028,000 after buying an additional 15,835 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Spire by 9.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 974,127 shares of the utilities provider's stock valued at $71,102,000 after buying an additional 80,965 shares in the last quarter. Nuveen LLC acquired a new position in shares of Spire in the 1st quarter valued at $73,254,000. Finally, Northern Trust Corp boosted its stake in Spire by 13.0% during the 4th quarter. Northern Trust Corp now owns 845,612 shares of the utilities provider's stock worth $57,358,000 after purchasing an additional 97,573 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

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.