HighTower Advisors LLC acquired a new position in shares of Spire Inc. (NYSE:SR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,732 shares of the utilities provider’s stock, valued at approximately $5,987,000. HighTower Advisors LLC owned about 0.18% of Spire at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SR. Mosaic Family Wealth LLC boosted its position in 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 during the last quarter. State of Alaska Department of Revenue boosted its position in 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 during the last quarter. IFP Advisors Inc boosted its position in 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 during the last quarter. Cardinal Capital Management boosted its position 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 during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in 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 during the last quarter. 74.51% of the stock is owned by hedge funds and other institutional investors.
Spire Inc. (NYSE:SR) traded down 0.21% on Thursday, reaching $70.45. The company’s stock had a trading volume of 158,778 shares. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 21.51 and a beta of 0.35. The firm’s 50-day moving average price is $70.42 and its 200-day moving average price is $66.87. Spire Inc. has a 52-week low of $59.54 and a 52-week high of $72.82.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $2.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.01. Spire had a return on equity of 8.66% and a net margin of 8.87%. The firm had revenue of $663.40 million during the quarter, compared to analyst estimates of $662.43 million. During the same period last year, the company posted $2.37 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Spire Inc. will post $3.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 12th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, June 8th. Spire’s dividend payout ratio (DPR) is presently 64.02%.
A number of research firms have issued reports on SR. Zacks Investment Research cut Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Morgan Stanley boosted their target price on Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $68.80.
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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