State Street Corp Has $78.91 Million Position in Spire Inc. (SR)
State Street Corp raised its position in Spire Inc. (NYSE:SR) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,168,925 shares of the utilities provider’s stock after buying an additional 76,134 shares during the period. State Street Corp’s holdings in Spire were worth $78,909,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in SR. Parkside Financial Bank & Trust boosted its stake in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Spire by 86.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,200 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,019 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock worth $223,000 after buying an additional 255 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Spire during the first quarter worth about $242,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Spire by 19.5% in the first 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. 74.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Spire Inc. (NYSE:SR) opened at 69.45 on Monday. Spire Inc. has a 52 week low of $59.54 and a 52 week high of $72.82. The company has a market capitalization of $3.35 billion, a PE ratio of 21.21 and a beta of 0.33. The company has a 50 day moving average price of $70.69 and a 200 day moving average price of $67.14.
Spire (NYSE:SR) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.01. Spire had a net margin of 8.87% and a return on equity of 8.66%. The firm had revenue of $663.40 million during the quarter, compared to the consensus estimate of $662.43 million. During the same period last year, the firm earned $2.37 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Spire Inc. will post $3.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Monday, June 12th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, June 8th. Spire’s payout ratio is 64.02%.
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A number of equities research analysts have recently issued reports on SR shares. Zacks Investment Research cut Spire from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Morgan Stanley boosted their price objective on Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $70.80.
Spire Company Profile
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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