JPMorgan Chase & Co. Lowers Position in Spire Inc. (SR)
JPMorgan Chase & Co. trimmed its holdings in Spire Inc. (NYSE:SR) by 27.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 434,511 shares of the utilities provider’s stock after selling 161,485 shares during the period. JPMorgan Chase & Co. owned 0.90% of Spire worth $30,307,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State of Tennessee Treasury Department grew its stake in Spire by 6.5% in the 2nd quarter. State of Tennessee Treasury Department now owns 45,532 shares of the utilities provider’s stock valued at $3,176,000 after acquiring an additional 2,765 shares during the last quarter. Swiss National Bank grew its stake in Spire by 1.6% in the 2nd quarter. Swiss National Bank now owns 76,450 shares of the utilities provider’s stock valued at $5,332,000 after acquiring an additional 1,200 shares during the last quarter. Commerce Bank grew its stake in Spire by 2.0% in the 2nd quarter. Commerce Bank now owns 48,098 shares of the utilities provider’s stock valued at $3,355,000 after acquiring an additional 950 shares during the last quarter. Principal Financial Group Inc. grew its stake in Spire by 6.4% in the 2nd quarter. Principal Financial Group Inc. now owns 375,709 shares of the utilities provider’s stock valued at $26,205,000 after acquiring an additional 22,533 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Spire by 1.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,078 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 69 shares during the last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.
Spire Inc. (NYSE SR) opened at 75.80 on Monday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 21.90 and a beta of 0.33. The firm has a 50-day moving average of $75.86 and a 200-day moving average of $70.80. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $78.00.
Spire (NYSE:SR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. Spire’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Equities research analysts forecast that Spire Inc. will post $3.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a yield of 2.77%. Spire’s dividend payout ratio is currently 60.17%.
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A number of equities research analysts recently commented on SR shares. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $73.00 price objective on shares of Spire in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price objective on shares of Spire in a research note on Thursday, August 3rd. Finally, Morgan Stanley increased their price objective on shares of Spire from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $72.17.
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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