State of Alaska Department of Revenue raised its stake in Spire Inc. (NYSE:SR) by 87.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,522 shares of the utilities provider’s stock after buying an additional 4,452 shares during the period. State of Alaska Department of Revenue’s holdings in Spire were worth $664,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its stake in Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock valued at $108,000 after buying an additional 407 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Spire by 86.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,200 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,019 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock valued at $223,000 after buying an additional 255 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Spire during the first quarter valued at $242,000. Finally, Creative Planning boosted its stake in Spire by 6.1% in the second quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock valued at $267,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Spire Inc. (NYSE:SR) opened at 71.45 on Friday. Spire Inc. has a 52-week low of $59.54 and a 52-week high of $72.82. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 21.82 and a beta of 0.33. The firm’s 50-day moving average price is $70.60 and its 200 day moving average price is $67.70.
Spire (NYSE:SR) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.01. Spire had a return on equity of 8.66% and a net margin of 8.87%. The company had revenue of $663.40 million for the quarter, compared to the consensus estimate of $662.43 million. During the same quarter last year, the business posted $2.37 EPS. Spire’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Spire Inc. will post $3.53 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Monday, June 12th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, June 8th. Spire’s dividend payout ratio is presently 64.02%.
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SR has been the subject of several recent analyst reports. Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Wednesday, July 12th. Morgan Stanley lifted their price target on Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $70.80.
Spire Company Profile
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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