Schwab Charles Investment Management Inc. raised its position in Spire Inc. (NYSE:SR) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,198 shares of the utilities provider’s stock after buying an additional 2,958 shares during the period. Schwab Charles Investment Management Inc. owned about 0.49% of Spire worth $15,944,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Mosaic Family Wealth LLC boosted its stake in shares of Spire by 0.4% in the first quarter. Mosaic Family Wealth LLC now owns 4,873 shares of the utilities provider’s stock worth $329,000 after buying an additional 18 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Spire by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,070 shares of the utilities provider’s stock worth $342,000 after buying an additional 100 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Spire by 2.4% in the first quarter. IFP Advisors Inc now owns 7,191 shares of the utilities provider’s stock worth $485,000 after buying an additional 170 shares in the last quarter. Cardinal Capital Management boosted its stake in shares of 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. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Spire by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the utilities provider’s stock worth $1,256,000 after buying an additional 200 shares in the last quarter. 74.68% of the stock is owned by hedge funds and other institutional investors.
Shares of Spire Inc. (NYSE SR) traded up 0.66% during midday trading on Tuesday, hitting $75.80. The company had a trading volume of 121,482 shares. The firm’s 50-day moving average is $71.07 and its 200-day moving average is $68.32. The firm has a market capitalization of $3.65 billion, a P/E ratio of 21.90 and a beta of 0.33. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $75.93.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The business had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. During the same period in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts predict that Spire Inc. will post $3.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Friday, September 8th. Spire’s dividend payout ratio (DPR) is currently 60.17%.
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SR has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price target on shares of Spire in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average 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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