Spire Inc (SR) Holdings Raised by Wells Fargo & Company MN
Wells Fargo & Company MN grew its holdings in Spire Inc (NYSE:SR) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,059,918 shares of the utilities provider’s stock after acquiring an additional 73,219 shares during the quarter. Wells Fargo & Company MN owned 2.20% of Spire worth $79,123,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in SR. Legal & General Group Plc grew its holdings in shares of Spire by 7.5% during the third quarter. Legal & General Group Plc now owns 243,030 shares of the utilities provider’s stock worth $18,144,000 after buying an additional 16,952 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Spire by 132.6% during the third quarter. Nordea Investment Management AB now owns 136,605 shares of the utilities provider’s stock worth $10,198,000 after buying an additional 77,879 shares in the last quarter. American International Group Inc. grew its holdings in shares of Spire by 5.7% during the third quarter. American International Group Inc. now owns 37,540 shares of the utilities provider’s stock worth $2,802,000 after buying an additional 2,028 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Spire by 11.6% during the third quarter. Pacer Advisors Inc. now owns 6,967 shares of the utilities provider’s stock worth $520,000 after buying an additional 725 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Spire by 11.1% during the third quarter. Macquarie Group Ltd. now owns 665,843 shares of the utilities provider’s stock worth $49,705,000 after buying an additional 66,308 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.
Spire Inc (NYSE SR) remained flat at $$80.35 during mid-day trading on Thursday. 110,100 shares of the company were exchanged, compared to its average volume of 186,723. The company has a quick ratio of 0.46, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3,878.24, a P/E ratio of 22.07, a P/E/G ratio of 4.05 and a beta of 0.31. Spire Inc has a one year low of $62.33 and a one year high of $82.85.
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, beating the Zacks’ consensus estimate of ($0.26) by $0.04. The firm had revenue of $258.70 million during the quarter, compared to the consensus estimate of $271.65 million. Spire had a return on equity of 8.71% and a net margin of 9.28%. The business’s revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. sell-side analysts predict that Spire Inc will post 3.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th will be paid a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 2.80%. This is an increase from Spire’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, December 8th. Spire’s dividend payout ratio (DPR) is currently 59.66%.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Stifel Nicolaus raised their price target on Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price target on shares of Spire in a research note on Monday, October 16th. J P Morgan Chase & Co raised their price target on Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Spire has an average rating of “Hold” and a consensus price target of $75.00.
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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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