KLP Kapitalforvaltning AS Invests $1.98 Million in Spire Inc. (NYSE:SR)

KLP Kapitalforvaltning AS purchased a new stake in Spire Inc. (NYSE:SR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,900 shares of the utilities provider’s stock, valued at approximately $1,979,000.

A number of other large investors have also recently bought and sold shares of the stock. Captrust Financial Advisors bought a new stake in Spire during the third quarter worth about $39,228,000. Assenagon Asset Management S.A. bought a new stake in Spire during the 4th quarter worth approximately $8,277,000. Bank of New York Mellon Corp increased its holdings in Spire by 15.8% during the 4th quarter. Bank of New York Mellon Corp now owns 778,442 shares of the utilities provider’s stock valued at $52,802,000 after purchasing an additional 106,386 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Spire by 13.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 731,682 shares of the utilities provider’s stock valued at $49,630,000 after purchasing an additional 85,476 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Spire by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider’s stock worth $93,244,000 after buying an additional 71,798 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Spire Trading Up 0.2 %

SR opened at $77.45 on Friday. The firm’s fifty day moving average is $74.07 and its two-hundred day moving average is $69.47. The firm has a market cap of $4.52 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.82 and a beta of 0.53. Spire Inc. has a twelve month low of $57.27 and a twelve month high of $78.83. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.37 and a current ratio of 0.50.

Spire (NYSE:SR) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. Equities research analysts anticipate that Spire Inc. will post 4.5 EPS for the current year.

Spire Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 11th will be paid a dividend of $0.785 per share. The ex-dividend date is Tuesday, March 11th. This represents a $3.14 dividend on an annualized basis and a yield of 4.05%. Spire’s payout ratio is 76.03%.

Analysts Set New Price Targets

Several research analysts have issued reports on SR shares. Mizuho upped their price objective on Spire from $76.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Morgan Stanley lifted their price objective on Spire from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Janney Montgomery Scott initiated coverage on shares of Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. JPMorgan Chase & Co. raised shares of Spire from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $85.00 in a research note on Thursday, March 20th. Finally, Bank of America started coverage on shares of Spire in a research note on Friday, December 13th. They set a “neutral” rating and a $70.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Spire has an average rating of “Hold” and an average target price of $76.00.

Spire Profile

Spire Inc, together with 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 through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.