Nuveen Asset Management LLC Buys 134,402 Shares of Spire Inc (SR)
Nuveen Asset Management LLC boosted its stake in shares of Spire Inc (NYSE:SR) by 33.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 531,617 shares of the utilities provider’s stock after buying an additional 134,402 shares during the period. Nuveen Asset Management LLC owned 1.10% of Spire worth $38,436,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Spire by 0.9% during the first quarter. BlackRock Inc. now owns 6,328,369 shares of the utilities provider’s stock worth $457,540,000 after buying an additional 55,036 shares during the last quarter. American Century Companies Inc. boosted its stake in Spire by 0.8% during the first quarter. American Century Companies Inc. now owns 3,285,714 shares of the utilities provider’s stock worth $237,557,000 after buying an additional 25,755 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Spire by 2.7% during the first quarter. Wells Fargo & Company MN now owns 1,125,561 shares of the utilities provider’s stock worth $81,379,000 after buying an additional 29,412 shares during the last quarter. Northern Trust Corp boosted its stake in Spire by 0.5% during the first quarter. Northern Trust Corp now owns 1,048,549 shares of the utilities provider’s stock worth $75,810,000 after buying an additional 5,133 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Spire by 9.5% during the fourth quarter. Macquarie Group Ltd. now owns 728,873 shares of the utilities provider’s stock worth $56,894,000 after buying an additional 63,030 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.
NYSE:SR opened at $67.95 on Thursday. Spire Inc has a 52 week low of $60.08 and a 52 week high of $82.85. The company has a current ratio of 0.77, a quick ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 5.10 and a beta of 0.04.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Monday, June 11th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Friday, June 8th. This represents a $2.25 annualized dividend and a dividend yield of 3.31%. Spire’s dividend payout ratio is presently 63.20%.
A number of research firms have weighed in on SR. ValuEngine lowered Spire from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Bank of America restated a “buy” rating and issued a $75.00 target price on shares of Spire in a research report on Monday, March 26th. Stifel Nicolaus lifted their target price on Spire from $65.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, May 3rd. Morgan Stanley lifted their target price on Spire from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Thursday, March 8th. Finally, Credit Suisse Group upgraded Spire from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $68.25 to $68.00 in a research report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $72.29.
Spire Company Profile
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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