JPMorgan Chase & Co. Trims Position in Spire Inc (SR)
JPMorgan Chase & Co. decreased its holdings in Spire Inc (NYSE:SR) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,128 shares of the utilities provider’s stock after selling 16,383 shares during the quarter. JPMorgan Chase & Co. owned about 0.87% of Spire worth $31,485,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SR. Bruderman Asset Management LLC purchased a new position in Spire during the 2nd quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Spire by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after buying an additional 144 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Spire by 11.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock worth $144,000 after buying an additional 209 shares during the last quarter. Advisor Group Inc. raised its position in Spire by 30.7% during the 2nd quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock worth $149,000 after buying an additional 504 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its position in Spire by 66.5% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock worth $168,000 after buying an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Spire Inc (NYSE SR) traded down $2.35 during trading hours on Wednesday, hitting $77.15. 146,800 shares of the stock were exchanged, compared to its average volume of 186,474. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.46 and a current ratio of 0.66. Spire Inc has a fifty-two week low of $62.33 and a fifty-two week high of $82.85. The firm has a market cap of $3,837.22, a PE ratio of 21.84, a PEG ratio of 4.01 and a beta of 0.31.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.04. Spire had a net margin of 9.28% and a return on equity of 8.71%. The business had revenue of $258.70 million for the quarter, compared to analysts’ expectations of $271.65 million. During the same period in the prior year, the company posted ($0.32) EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. analysts forecast that Spire Inc will post 3.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 11th will be paid a dividend of $0.5625 per share. The ex-dividend date of this dividend is Friday, December 8th. This is a boost from Spire’s previous quarterly dividend of $0.53. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.92%. Spire’s dividend payout ratio is 63.92%.
A number of brokerages have commented on SR. Stifel Nicolaus upped their price objective on shares of Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, November 16th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Wednesday, October 4th. ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Morgan Stanley upped their price objective on shares of Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Finally, Royal Bank of Canada restated a “hold” rating and set a $73.00 price objective on shares of Spire in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Spire has a consensus rating of “Hold” and an average price target of $75.00.
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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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