Spire Inc. (NYSE:SR) Stake Boosted by Bank of Montreal Can
Bank of Montreal Can raised its position in Spire Inc. (NYSE:SR) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 32,322 shares of the utilities provider’s stock after buying an additional 372 shares during the period. Bank of Montreal Can’s holdings in Spire were worth $2,255,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in SR. Green Square Capital LLC purchased a new position in Spire during the first quarter valued at approximately $409,000. Macquarie Group Ltd. increased its position in Spire by 15.1% in the first quarter. Macquarie Group Ltd. now owns 429,571 shares of the utilities provider’s stock valued at $28,996,000 after buying an additional 56,375 shares during the last quarter. HighTower Advisors LLC purchased a new position in Spire during the first quarter valued at approximately $5,987,000. State Street Corp increased its position in Spire by 7.0% in the first quarter. State Street Corp now owns 1,168,925 shares of the utilities provider’s stock valued at $78,909,000 after buying an additional 76,134 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Spire by 58.2% in the first quarter. Bank of America Corp DE now owns 224,357 shares of the utilities provider’s stock valued at $15,145,000 after buying an additional 82,551 shares during the last quarter. 74.68% of the stock is currently owned by hedge funds and other institutional investors.
Spire Inc. (SR) traded down 1.58% during midday trading on Friday, reaching $74.85. The company’s stock had a trading volume of 70,848 shares. Spire Inc. has a 12 month low of $59.54 and a 12 month high of $76.20. The stock has a 50-day moving average price of $71.54 and a 200 day moving average price of $68.62. The company has a market cap of $3.61 billion, a PE ratio of 21.63 and a beta of 0.33.
Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $323.50 million during the quarter, compared to analyst estimates of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. Analysts expect that Spire Inc. will post $3.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors 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 annualized dividend and a yield of 2.76%. Spire’s dividend payout ratio (DPR) is presently 60.17%.
Several research firms have recently commented on SR. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $73.00 target price on shares of Spire in a research report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $71.00 target price on shares of Spire in a research report on Thursday, August 3rd. Morgan Stanley increased their price target on Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded Spire from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $71.43.
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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