CIBC Asset Management Inc Has $326,000 Stake in Spire Inc (SR)
CIBC Asset Management Inc trimmed its stake in shares of Spire Inc (NYSE:SR) by 29.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,395 shares of the utilities provider’s stock after selling 1,832 shares during the period. CIBC Asset Management Inc’s holdings in Spire were worth $326,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Martingale Asset Management L P lifted its holdings in shares of Spire by 48.9% in the 4th quarter. Martingale Asset Management L P now owns 125,729 shares of the utilities provider’s stock worth $9,315,000 after acquiring an additional 41,317 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Spire by 12.8% in the 4th quarter. Advisor Group Inc. now owns 3,310 shares of the utilities provider’s stock worth $246,000 after acquiring an additional 375 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Spire by 4.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,050 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 283 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Spire by 46.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,616 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 3,372 shares during the last quarter. Finally, Truehand Inc bought a new stake in shares of Spire in the 4th quarter worth about $107,000. 81.52% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Credit Suisse Group restated a “hold” rating and issued a $72.00 target price on shares of Spire in a report on Thursday, February 7th. Guggenheim lowered shares of Spire from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Tuesday, January 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Spire has a consensus rating of “Hold” and an average target price of $75.75.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, February 6th. The utilities provider reported $1.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.04). The company had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $602.54 million. Spire had a return on equity of 8.52% and a net margin of 8.25%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. On average, equities research analysts expect that Spire Inc will post 3.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 11th will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, March 8th. Spire’s dividend payout ratio is presently 63.71%.
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Spire Inc, through 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 two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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