Nisa Investment Advisors LLC reduced its position in Spire Inc. (NYSE:SR) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,192 shares of the utilities provider’s stock after selling 2,134 shares during the period. Nisa Investment Advisors LLC’s holdings in Spire were worth $711,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in SR. Strs Ohio increased its stake in Spire by 0.7% in the first quarter. Strs Ohio now owns 54,900 shares of the utilities provider’s stock worth $3,705,000 after buying an additional 400 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Spire by 53.7% in the first quarter. Janney Montgomery Scott LLC now owns 31,010 shares of the utilities provider’s stock worth $2,093,000 after buying an additional 10,832 shares in the last quarter. Cardinal Capital Management increased its stake in Spire by 1.2% in the first quarter. Cardinal Capital Management now owns 15,745 shares of the utilities provider’s stock worth $1,063,000 after buying an additional 191 shares in the last quarter. Sit Investment Associates Inc. increased its stake in Spire by 22.5% in the first quarter. Sit Investment Associates Inc. now owns 22,875 shares of the utilities provider’s stock worth $1,544,000 after buying an additional 4,200 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Spire by 14.7% in the first quarter. ProShare Advisors LLC now owns 112,637 shares of the utilities provider’s stock worth $7,603,000 after buying an additional 14,416 shares in the last quarter. 74.68% of the stock is owned by institutional investors and hedge funds.
Shares of Spire Inc. (SR) traded up 0.60% during trading on Tuesday, hitting $75.75. The stock had a trading volume of 30,763 shares. The stock’s 50-day moving average price is $70.85 and its 200 day moving average price is $68.17. Spire Inc. has a 1-year low of $59.54 and a 1-year high of $75.75. The firm has a market capitalization of $3.64 billion, a P/E ratio of 21.89 and a beta of 0.33.
Spire (NYSE:SR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The company had revenue of $323.50 million for the quarter, compared to analysts’ expectations of $293.99 million. During the same period last year, the firm earned $0.33 EPS. Spire’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, analysts anticipate that Spire Inc. will post $3.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be issued a $0.525 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a yield of 2.79%. Spire’s dividend payout ratio is currently 60.17%.
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Several equities analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $71.00 price target on shares of Spire in a research report on Thursday, August 3rd. Zacks Investment Research cut Spire from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Morgan Stanley lifted their price target on Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $70.83.
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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