Ontario Teachers Pension Plan Board purchased a new stake in Spire Inc (NYSE:SR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,729 shares of the utilities provider’s stock, valued at approximately $1,230,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Spire by 11.2% during the second quarter. BlackRock Inc. now owns 7,036,823 shares of the utilities provider’s stock worth $497,152,000 after purchasing an additional 708,454 shares during the period. Cornerstone Wealth Management LLC boosted its position in Spire by 30.6% during the third quarter. Cornerstone Wealth Management LLC now owns 893,511 shares of the utilities provider’s stock worth $11,852,000 after purchasing an additional 209,304 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Spire during the second quarter worth approximately $13,085,000. Russell Investments Group Ltd. boosted its position in Spire by 224.6% during the second quarter. Russell Investments Group Ltd. now owns 236,992 shares of the utilities provider’s stock worth $16,748,000 after purchasing an additional 163,975 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Spire by 18.5% during the second quarter. Renaissance Technologies LLC now owns 885,400 shares of the utilities provider’s stock worth $62,554,000 after purchasing an additional 138,100 shares during the period. 82.50% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Credit Suisse Group upped their target price on Spire from $71.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, November 19th. Morgan Stanley upped their target price on Spire from $75.00 to $77.00 and gave the stock a “sell” rating in a research report on Tuesday, September 11th. Zacks Investment Research upgraded Spire from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Wells Fargo & Co set a $82.00 price target on Spire and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, ValuEngine upgraded Spire from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $76.00.
Shares of SR stock opened at $77.28 on Friday. Spire Inc has a 12 month low of $60.08 and a 12 month high of $82.85. The company has a market cap of $4.00 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 5.31 and a beta of 0.03. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.50 and a quick ratio of 0.34.
Spire (NYSE:SR) last issued its quarterly earnings results on Thursday, November 15th. The utilities provider reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.07. Spire had a return on equity of 8.35% and a net margin of 10.90%. The company had revenue of $239.20 million during the quarter, compared to analyst estimates of $237.31 million. Equities analysts anticipate that Spire Inc will post 3.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th will be issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Monday, December 10th. This is a positive change from Spire’s previous quarterly dividend of $0.56. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.07%. Spire’s payout ratio is 60.48%.
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Spire Company Profile
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 customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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