Bank of New York Mellon Corp Acquires 33,325 Shares of Spire Inc. (SR)
Bank of New York Mellon Corp raised its position in shares of Spire Inc. (NYSE:SR) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,185 shares of the utilities provider’s stock after buying an additional 33,325 shares during the period. Bank of New York Mellon Corp owned about 1.65% of Spire worth $55,673,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Parkside Financial Bank & Trust increased its stake in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Spire by 13.0% in the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock worth $125,000 after buying an additional 206 shares during the last quarter. World Asset Management Inc acquired a new stake in shares of Spire during the second quarter worth about $222,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of 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 worth $223,000 after buying an additional 255 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Spire by 6.1% in the second quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock worth $267,000 after buying an additional 220 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.
Spire Inc. (NYSE SR) opened at 77.10 on Friday. The company has a market cap of $3.72 billion, a P/E ratio of 22.28 and a beta of 0.32. Spire Inc. has a one year low of $59.54 and a one year high of $77.75. The company has a 50-day moving average of $74.46 and a 200 day moving average of $70.05.
Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The company had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. Analysts anticipate that Spire Inc. will post $3.57 earnings per share for the current 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 given a dividend of $0.525 per share. The ex-dividend date is Friday, September 8th. This represents a $2.10 annualized dividend and a yield of 2.72%. Spire’s dividend payout ratio is presently 60.17%.
A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $73.00 price objective on shares of Spire in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Spire from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Morgan Stanley boosted their price objective on shares of Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $71.00 price objective on shares of Spire in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Spire has an average rating of “Hold” and a consensus price target of $71.83.
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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