California Public Employees Retirement System Grows Stock Position in Spire Inc. (NYSE:SR)

California Public Employees Retirement System raised its stake in shares of Spire Inc. (NYSE:SRGet Rating) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 115,418 shares of the utilities provider’s stock after buying an additional 1,367 shares during the period. California Public Employees Retirement System’s holdings in Spire were worth $8,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of Spire by 40.9% in the 2nd quarter. Principal Financial Group Inc. now owns 246,714 shares of the utilities provider’s stock valued at $18,348,000 after purchasing an additional 71,675 shares in the last quarter. Tortoise Index Solutions LLC increased its stake in shares of Spire by 2.5% in the 2nd quarter. Tortoise Index Solutions LLC now owns 117,720 shares of the utilities provider’s stock valued at $8,755,000 after purchasing an additional 2,854 shares in the last quarter. Pictet Asset Management SA increased its stake in shares of Spire by 510.1% in the 2nd quarter. Pictet Asset Management SA now owns 21,329 shares of the utilities provider’s stock valued at $1,586,000 after purchasing an additional 17,833 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Spire in the 2nd quarter valued at about $875,000. Finally, Baird Financial Group Inc. increased its stake in shares of Spire by 5.4% in the 2nd quarter. Baird Financial Group Inc. now owns 40,275 shares of the utilities provider’s stock valued at $2,995,000 after purchasing an additional 2,062 shares in the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on Spire from $78.00 to $71.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. StockNews.com upgraded Spire from a “sell” rating to a “hold” rating in a report on Thursday, November 17th. Royal Bank of Canada lifted their price objective on Spire from $69.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday. Mizuho lowered their price objective on Spire from $77.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, November 18th. Finally, TheStreet cut Spire from a “b-” rating to a “c+” rating in a report on Monday, September 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.14.

Spire Trading Up 1.2 %

Shares of Spire stock opened at $73.29 on Wednesday. The stock has a market cap of $3.85 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.23 and a beta of 0.39. The stock’s 50 day simple moving average is $67.27 and its 200-day simple moving average is $71.45. Spire Inc. has a 1-year low of $59.60 and a 1-year high of $79.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.68 and a quick ratio of 0.50.

Spire Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Monday, December 12th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, December 9th. Spire’s dividend payout ratio is currently 68.84%.

About Spire

(Get Rating)

Spire Inc, together with 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 the marketing of natural gas.

Featured Stories

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:SRGet Rating).

Institutional Ownership by Quarter for Spire (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.