Kavar Capital Partners LLC purchased a new position in shares of Spire Inc (NYSE:SR) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 2,193 shares of the utilities provider’s stock, valued at approximately $184,000.
Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Spire by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 940,227 shares of the utilities provider’s stock worth $69,651,000 after acquiring an additional 9,987 shares in the last quarter. Norges Bank purchased a new stake in shares of Spire during the 4th quarter worth about $30,284,000. Geode Capital Management LLC boosted its stake in shares of Spire by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 524,755 shares of the utilities provider’s stock worth $38,873,000 after acquiring an additional 36,785 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Spire during the 1st quarter worth about $355,000. Finally, Retirement Systems of Alabama purchased a new stake in shares of Spire during the 1st quarter worth about $5,435,000. Hedge funds and other institutional investors own 78.55% of the company’s stock.
Several research firms have recently issued reports on SR. Wells Fargo & Co lowered their target price on shares of Spire from $91.00 to $88.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Credit Suisse Group set a $75.00 target price on shares of Spire and gave the stock a “sell” rating in a research note on Monday, April 22nd. Zacks Investment Research lowered shares of Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley set a $80.00 target price on shares of Spire and gave the stock a “sell” rating in a research note on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $81.80.
Spire stock traded up $0.82 during midday trading on Thursday, reaching $81.07. The company had a trading volume of 3,162 shares, compared to its average volume of 230,632. The company has a market capitalization of $4.09 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.88 and a beta of 0.21. Spire Inc has a 12-month low of $70.53 and a 12-month high of $87.13. The business has a fifty day moving average of $83.81. The company has a quick ratio of 0.40, a current ratio of 0.53 and a debt-to-equity ratio of 0.86.
Spire (NYSE:SR) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). The company had revenue of $321.30 million during the quarter, compared to analysts’ expectations of $333.14 million. Spire had a net margin of 9.74% and a return on equity of 7.56%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. On average, research analysts forecast that Spire Inc will post 3.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.592 dividend. This represents a $2.37 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, September 10th. Spire’s dividend payout ratio is presently 63.71%.
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.
Recommended Story: What are momentum indicators and what do they show?
Want to see what other hedge funds are holding SR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spire Inc (NYSE:SR).
Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.