Wipfli Financial Advisors LLC bought a new stake in Spire Inc. (NYSE:SR – Get Rating) in the third quarter, Holdings Channel reports. The institutional investor bought 483 shares of the utilities provider’s stock, valued at approximately $30,000.
A number of other institutional investors also recently modified their holdings of SR. Private Trust Co. NA bought a new position in Spire in the 3rd quarter worth approximately $32,000. Quadrant Capital Group LLC grew its holdings in shares of Spire by 47.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 581 shares of the utilities provider’s stock valued at $43,000 after buying an additional 186 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Spire by 31.8% in the 1st quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock valued at $46,000 after buying an additional 154 shares during the period. Gladius Capital Management LP acquired a new position in Spire in the 2nd quarter worth $90,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Spire by 191.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,466 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 963 shares during the period. Institutional investors own 99.86% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Spire from an “overweight” rating to a “neutral” rating and set a $69.00 price target on the stock. in a research report on Monday, December 5th. Guggenheim increased their target price on shares of Spire from $61.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 7th. TheStreet lowered shares of Spire from a “b-” rating to a “c+” rating in a research report on Monday, September 26th. Mizuho reduced their price target on shares of Spire from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, December 8th. Finally, Morgan Stanley increased their price target on shares of Spire from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 15th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.86.
Spire Stock Down 0.3 %
Spire (NYSE:SR – Get Rating) last posted its quarterly earnings results on Wednesday, November 16th. The utilities provider reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.02). Spire had a net margin of 10.04% and a return on equity of 8.48%. The business had revenue of $314.20 million during the quarter, compared to the consensus estimate of $280.97 million. Research analysts expect that Spire Inc. will post 4.14 earnings per share for the current fiscal year.
Spire Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Monday, December 12th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, December 9th. Spire’s dividend payout ratio (DPR) is currently 72.36%.
Spire Company Profile
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.
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