A.R.T. Advisors LLC acquired a new position in Spire Inc (NYSE:SR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,229 shares of the utilities provider’s stock, valued at approximately $1,110,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Spire by 0.6% in the 2nd quarter. BlackRock Inc. now owns 5,961,041 shares of the utilities provider’s stock valued at $500,251,000 after purchasing an additional 33,304 shares in the last quarter. American Century Companies Inc. raised its position in shares of Spire by 6.1% during the 1st quarter. American Century Companies Inc. now owns 3,394,915 shares of the utilities provider’s stock worth $279,368,000 after acquiring an additional 194,435 shares in the last quarter. Northern Trust Corp raised its position in shares of Spire by 1.1% during the 2nd quarter. Northern Trust Corp now owns 1,148,062 shares of the utilities provider’s stock worth $96,346,000 after acquiring an additional 12,416 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Spire by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,032,902 shares of the utilities provider’s stock worth $86,681,000 after acquiring an additional 9,464 shares in the last quarter. Finally, FMR LLC raised its position in shares of Spire by 19.7% during the 1st quarter. FMR LLC now owns 821,696 shares of the utilities provider’s stock worth $67,617,000 after acquiring an additional 135,051 shares in the last quarter. Institutional investors and hedge funds own 79.21% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Spire from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Wells Fargo & Co raised their target price on Spire from $89.00 to $90.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.00.
In other news, EVP Steven P. Rasche bought 1,108 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $27.20 per share, for a total transaction of $30,137.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by insiders.
Shares of SR stock opened at $86.58 on Friday. The business’s 50 day moving average is $84.05 and its two-hundred day moving average is $83.68. Spire Inc has a twelve month low of $70.53 and a twelve month high of $88.00. The company has a market capitalization of $4.41 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 5.26 and a beta of 0.19. The company has a current ratio of 0.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.86.
Spire (NYSE:SR) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). Spire had a net margin of 9.74% and a return on equity of 7.56%. The business had revenue of $321.30 million during the quarter, compared to analysts’ expectations of $333.14 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Spire Inc will post 3.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.592 per share. The ex-dividend date is Tuesday, September 10th. This represents a $2.37 dividend on an annualized basis and a yield of 2.74%. Spire’s payout ratio is 63.71%.
Spire Company Profile
Spire Inc, through 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 two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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