Allianz Asset Management GmbH lowered its position in shares of Spire Inc (NYSE:SR) by 2.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 63,106 shares of the utilities provider’s stock after selling 1,821 shares during the quarter. Allianz Asset Management GmbH owned about 0.12% of Spire worth $5,296,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SR. 6 Meridian lifted its holdings in shares of Spire by 1.9% in the 2nd quarter. 6 Meridian now owns 9,090 shares of the utilities provider’s stock valued at $763,000 after buying an additional 167 shares during the period. Magnus Financial Group LLC grew its position in shares of Spire by 4.2% in the first quarter. Magnus Financial Group LLC now owns 4,661 shares of the utilities provider’s stock valued at $384,000 after purchasing an additional 189 shares in the last quarter. Tortoise Index Solutions LLC grew its position in shares of Spire by 0.3% in the first quarter. Tortoise Index Solutions LLC now owns 56,227 shares of the utilities provider’s stock valued at $4,627,000 after purchasing an additional 189 shares in the last quarter. Commerce Bank lifted its holdings in Spire by 0.6% in the first quarter. Commerce Bank now owns 50,619 shares of the utilities provider’s stock valued at $4,166,000 after acquiring an additional 299 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Spire by 4.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,424 shares of the utilities provider’s stock valued at $529,000 after acquiring an additional 301 shares during the last quarter. 79.27% of the stock is owned by institutional investors.
A number of research analysts have commented on the company. Zacks Investment Research cut Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Morgan Stanley set a $80.00 price objective on Spire and gave the stock a “sell” rating in a research report on Thursday, May 16th. Finally, Wells Fargo & Co upped their price objective 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 stock. Spire currently has a consensus rating of “Hold” and a consensus price target of $82.00.
Shares of SR stock opened at $85.94 on Friday. Spire Inc has a 1 year low of $70.53 and a 1 year high of $87.13. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 5.12 and a beta of 0.19. The stock’s 50-day moving average is $83.01 and its two-hundred day moving average is $83.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.40 and a current ratio of 0.53.
Spire (NYSE:SR) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.07 EPS 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 firm had revenue of $321.30 million during the quarter, compared to analyst estimates of $333.14 million. During the same quarter in the previous year, the business earned $0.31 EPS. Spire’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts predict that Spire Inc will post 3.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.592 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.76%. Spire’s payout ratio is 63.71%.
In other Spire news, EVP Steven P. Rasche acquired 1,825 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $27.33 per share, with a total value of $49,877.25. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.
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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