Texas Permanent School Fund grew its stake in Spire Inc (NYSE:SR) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,452 shares of the utilities provider’s stock after purchasing an additional 1,290 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Spire worth $2,835,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its position in Spire by 3.6% in the fourth quarter. BlackRock Inc. now owns 7,593,934 shares of the utilities provider’s stock worth $562,557,000 after buying an additional 261,819 shares during the last quarter. Vanguard Group Inc increased its position in Spire by 2.4% in the third quarter. Vanguard Group Inc now owns 5,130,613 shares of the utilities provider’s stock worth $377,356,000 after buying an additional 119,269 shares during the last quarter. American Century Companies Inc. increased its position in Spire by 0.3% in the fourth quarter. American Century Companies Inc. now owns 3,200,480 shares of the utilities provider’s stock worth $237,092,000 after buying an additional 9,639 shares during the last quarter. Macquarie Group Ltd. increased its position in Spire by 15.8% in the fourth quarter. Macquarie Group Ltd. now owns 1,208,210 shares of the utilities provider’s stock worth $89,504,000 after buying an additional 164,422 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased 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 buying an additional 9,987 shares during the last quarter. Institutional investors own 82.30% of the company’s stock.
A number of analysts have issued reports on SR shares. Credit Suisse Group downgraded Spire from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $74.00 to $72.00 in a research report on Wednesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research raised Spire from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Saturday, April 20th. Finally, Wells Fargo & Co lifted their price target on Spire from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $79.71.
Shares of NYSE SR traded up $0.89 during mid-day trading on Thursday, hitting $85.79. The company had a trading volume of 1,385 shares, compared to its average volume of 360,026. The stock has a market cap of $4.35 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 6.07 and a beta of 0.23. Spire Inc has a 1 year low of $64.95 and a 1 year high of $86.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.50 and a current ratio of 0.59.
Spire (NYSE:SR) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.27. The company had revenue of $803.50 million during the quarter, compared to analysts’ expectations of $795.74 million. Spire had a return on equity of 8.05% and a net margin of 11.12%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.83 earnings per share. On average, sell-side analysts predict that Spire Inc will post 3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, June 10th. Spire’s dividend payout ratio (DPR) is presently 63.71%.
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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.
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