Spire Inc (SR) Stake Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Spire Inc (NYSE:SR) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,500 shares of the utilities provider’s stock after selling 19,275 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of Spire worth $14,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mesirow Financial Investment Management Equity Management increased its holdings in shares of Spire by 29.3% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 203,444 shares of the utilities provider’s stock valued at $14,962,000 after acquiring an additional 46,125 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Spire by 10.9% during the third quarter. Congress Asset Management Co. MA now owns 41,687 shares of the utilities provider’s stock valued at $3,066,000 after acquiring an additional 4,083 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Spire by 7.9% during the third quarter. Russell Investments Group Ltd. now owns 255,628 shares of the utilities provider’s stock valued at $18,797,000 after acquiring an additional 18,636 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Spire by 8.9% during the third quarter. First Trust Advisors LP now owns 364,993 shares of the utilities provider’s stock valued at $26,845,000 after acquiring an additional 29,831 shares in the last quarter. Finally, UMB Bank N A MO boosted its position in shares of Spire by 22.1% during the third quarter. UMB Bank N A MO now owns 16,139 shares of the utilities provider’s stock valued at $1,187,000 after buying an additional 2,925 shares during the last quarter. 82.48% of the stock is owned by institutional investors.

Several equities research analysts recently commented on the company. Wells Fargo & Co set a $82.00 price objective on Spire and gave the company a “buy” rating in a research report on Monday, September 17th. ValuEngine cut Spire from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. set a $72.00 price objective on Spire and gave the company a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised Spire from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Morgan Stanley dropped their price objective on Spire from $77.00 to $73.00 and set a “sell” rating on the stock in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Spire currently has an average rating of “Hold” and a consensus price target of $76.00.

Spire stock opened at $79.47 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.34 and a current ratio of 0.50. Spire Inc has a one year low of $60.08 and a one year high of $81.13. The firm has a market cap of $3.92 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 5.21 and a beta of 0.06.

Spire (NYSE:SR) last released its quarterly earnings data on Thursday, November 15th. The utilities provider reported ($0.52) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $237.31 million. As a group, equities analysts anticipate that Spire Inc will post 3.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.98%. This is a boost from Spire’s previous quarterly dividend of $0.56. The ex-dividend date is Monday, December 10th. Spire’s dividend payout ratio (DPR) is presently 60.48%.

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About Spire

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.

Read More: Cost of Debt

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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