Prudential Financial Inc. trimmed its position in shares of Spire Inc (NYSE:SR) by 26.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,655 shares of the utilities provider’s stock after selling 33,510 shares during the period. Prudential Financial Inc. owned approximately 0.19% of Spire worth $6,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Spire by 17.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,346 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 787 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Spire by 5.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,839 shares of the utilities provider’s stock valued at $1,119,000 after purchasing an additional 795 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Spire by 0.9% during the 2nd quarter. New York State Teachers Retirement System now owns 93,098 shares of the utilities provider’s stock valued at $6,577,000 after purchasing an additional 822 shares during the last quarter. MetLife Investment Advisors LLC increased its position in shares of Spire by 3.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 22,428 shares of the utilities provider’s stock valued at $1,585,000 after purchasing an additional 849 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Spire by 25.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,000 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 1,000 shares during the last quarter. 82.48% of the stock is currently owned by institutional investors and hedge funds.

SR has been the topic of several analyst reports. ValuEngine raised Spire from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Wells Fargo & Co set a $82.00 target price on Spire and gave the company a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research raised Spire from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Credit Suisse Group boosted their target price on Spire from $71.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, November 19th. Finally, Morgan Stanley cut their target price on Spire from $77.00 to $73.00 and set a “sell” rating on the stock in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $76.00.

Shares of Spire stock opened at $79.47 on Friday. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 5.21 and a beta of 0.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.34 and a current ratio of 0.50. Spire Inc has a 52 week low of $60.08 and a 52 week high of $81.13.

Spire (NYSE:SR) last announced its quarterly earnings data on Thursday, November 15th. The utilities provider reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.07. The company had revenue of $239.20 million for the quarter, compared to the consensus estimate of $237.31 million. Spire had a return on equity of 8.35% and a net margin of 10.90%. On average, equities analysts expect that Spire Inc will post 3.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 11th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, December 10th. This is an increase from Spire’s previous quarterly dividend of $0.56. Spire’s dividend payout ratio is 60.48%.

TRADEMARK VIOLATION NOTICE: This story was reported by Daily Political and is the sole property of of Daily Political. If you are reading this story on another site, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2018/12/08/prudential-financial-inc-sells-33510-shares-of-spire-inc-sr.html.

Spire 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.

See Also: Understanding Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding SR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spire Inc (NYSE:SR).

Institutional Ownership by Quarter for Spire (NYSE:SR)

Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.