State of Tennessee Treasury Department boosted its stake in Spire Inc. (NYSE:SR) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,532 shares of the utilities provider’s stock after acquiring an additional 2,765 shares during the period. State of Tennessee Treasury Department owned 0.09% of Spire worth $3,176,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its holdings in shares of Spire by 13.0% during the 2nd quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock worth $125,000 after buying an additional 206 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Spire by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after buying an additional 144 shares in the last quarter. World Asset Management Inc bought a new position in shares of Spire during the 2nd quarter worth approximately $222,000. Creative Planning boosted its holdings in shares of Spire by 6.1% during the 2nd quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock worth $267,000 after buying an additional 220 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Spire by 19.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the utilities provider’s stock worth $271,000 after buying an additional 654 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
SR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and set a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. Morgan Stanley increased their price target on Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Spire has an average rating of “Hold” and a consensus target price of $72.17.
Spire Inc. (NYSE SR) opened at 75.47 on Friday. The company has a market capitalization of $3.64 billion, a PE ratio of 21.81 and a beta of 0.33. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $78.00. The firm’s 50 day moving average price is $75.78 and its 200-day moving average price is $70.73.
Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The firm had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. On average, equities analysts anticipate that Spire Inc. will post $3.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be given a $0.525 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.78%. Spire’s dividend payout ratio is currently 60.17%.
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.
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