Spire Inc (SR) Position Lowered by Magnetar Financial LLC

Magnetar Financial LLC lessened its holdings in shares of Spire Inc (NYSE:SR) by 72.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,793 shares of the utilities provider’s stock after selling 7,182 shares during the quarter. Magnetar Financial LLC’s holdings in Spire were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Spire by 3.3% during the second quarter. BlackRock Inc. now owns 5,901,195 shares of the utilities provider’s stock valued at $411,607,000 after acquiring an additional 188,507 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Spire by 5.3% during the second quarter. Vanguard Group Inc. now owns 4,443,903 shares of the utilities provider’s stock valued at $309,962,000 after acquiring an additional 224,903 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Spire by 124.9% during the second quarter. American Century Companies Inc. now owns 3,475,470 shares of the utilities provider’s stock valued at $242,414,000 after acquiring an additional 1,930,140 shares in the last quarter. State Street Corp raised its holdings in shares of Spire by 5.7% during the second quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock valued at $86,214,000 after acquiring an additional 67,106 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Spire by 7.4% during the third quarter. Wells Fargo & Company MN now owns 1,059,918 shares of the utilities provider’s stock valued at $79,123,000 after acquiring an additional 73,219 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.

Spire Inc (SR) traded up $0.50 on Friday, reaching $77.05. The company’s stock had a trading volume of 549,930 shares, compared to its average volume of 157,529. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.46 and a current ratio of 0.66. The company has a market capitalization of $3,721.13, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 4.14 and a beta of 0.31. Spire Inc has a twelve month low of $62.33 and a twelve month high of $82.85.

Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The business 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 firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.32) earnings per share. sell-side analysts predict that Spire Inc will post 3.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th will be issued a $0.5625 dividend. This is an increase from Spire’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, December 8th. This represents a $2.25 dividend on an annualized basis and a yield of 2.92%. Spire’s dividend payout ratio is 63.92%.

SR has been the subject of a number of research reports. Royal Bank of Canada reiterated a “hold” rating and issued a $73.00 price objective on shares of Spire in a report on Monday, October 16th. Morgan Stanley increased their price objective on Spire from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Wednesday. ValuEngine downgraded Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. J P Morgan Chase & Co increased their price objective on Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Finally, Stifel Nicolaus increased their price objective on Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $75.33.

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About Spire

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.

Institutional Ownership by Quarter for Spire (NYSE:SR)

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