Zimmer Partners LP decreased its stake in shares of Spire Inc. (NYSE:SR) by 57.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 60,000 shares of the utilities provider’s stock after selling 82,345 shares during the quarter. Zimmer Partners LP’s holdings in Spire were worth $4,433,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Eaton Vance Management bought a new position in shares of Spire during the 1st quarter worth about $90,000. Deprince Race & Zollo Inc. increased its holdings in shares of Spire by 21.8% during the 1st quarter. Deprince Race & Zollo Inc. now owns 211,738 shares of the utilities provider’s stock worth $15,645,000 after purchasing an additional 37,948 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Spire by 318.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 18,399 shares of the utilities provider’s stock valued at $1,360,000 after acquiring an additional 14,004 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Spire by 48.5% during the 1st quarter. Citadel Advisors LLC now owns 23,913 shares of the utilities provider’s stock valued at $1,767,000 after acquiring an additional 7,812 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Spire by 22.8% during the 1st quarter. Jane Street Group LLC now owns 4,991 shares of the utilities provider’s stock valued at $369,000 after acquiring an additional 927 shares in the last quarter. Institutional investors own 82.07% of the company’s stock.
Several analysts have recently weighed in on SR shares. Sidoti upgraded shares of Spire from a “neutral” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Thursday, June 10th. Morgan Stanley reduced their price target on shares of Spire from $84.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of Spire from $69.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, May 10th. Mizuho dropped their price target on shares of Spire from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, July 1st. Finally, Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Tuesday, July 13th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.22.
Spire (NYSE:SR) last announced its earnings results on Friday, May 7th. The utilities provider reported $3.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.05 by $0.66. Spire had a net margin of 7.32% and a return on equity of 11.05%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $773.77 million. During the same quarter in the prior year, the company posted $2.75 earnings per share. The firm’s revenue was up 54.4% on a year-over-year basis. As a group, equities analysts predict that Spire Inc. will post 4.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 2nd. Investors of record on Friday, June 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.69%. The ex-dividend date was Thursday, June 10th. Spire’s payout ratio is 69.15%.
In related news, Director John P. Stupp, Jr. sold 6,000 shares of the stock in a transaction on Thursday, June 10th. The shares were sold at an average price of $74.73, for a total transaction of $448,380.00. Following the completion of the transaction, the director now owns 17,160 shares in the company, valued at $1,282,366.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
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 in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of 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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