Opus Investment Management Inc. Maintains Position in Spire Inc. (NYSE:SR)
Opus Investment Management Inc. held its stake in shares of Spire Inc. (NYSE:SR) during the second quarter, Holdings Channel reports. The fund owned 70,000 shares of the utilities provider’s stock at the end of the second quarter. Opus Investment Management Inc.’s holdings in Spire were worth $4,883,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Spire by 11,569.5% in the first quarter. BlackRock Inc. now owns 5,712,688 shares of the utilities provider’s stock valued at $385,606,000 after buying an additional 5,663,734 shares during the last quarter. Denver Investment Advisors LLC purchased a new position in shares of Spire during the first quarter valued at approximately $17,993,000. Vanguard Group Inc. raised its position in shares of Spire by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,219,000 shares of the utilities provider’s stock valued at $284,783,000 after buying an additional 216,388 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Spire by 30.8% in the first quarter. Renaissance Technologies LLC now owns 399,700 shares of the utilities provider’s stock valued at $26,980,000 after buying an additional 94,100 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Spire during the first quarter valued at approximately $5,987,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.
Spire Inc. (SR) opened at 75.10 on Friday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 21.70 and a beta of 0.33. Spire Inc. has a 12 month low of $59.54 and a 12 month high of $75.40. The stock has a 50 day moving average price of $70.85 and a 200 day moving average price of $68.17.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, equities analysts expect that Spire Inc. will post $3.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be issued a $0.525 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.10 annualized dividend and a yield of 2.80%. Spire’s dividend payout ratio (DPR) is 60.17%.
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SR has been the subject of several research reports. Zacks Investment Research upgraded Spire from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Morgan Stanley lifted their target price on Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $71.00 target price on shares of Spire in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Spire presently has a consensus rating of “Hold” and an average target price of $70.83.
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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