Cornercap Investment Counsel Inc. acquired a new stake in Spire Inc (NYSE:SR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,330 shares of the utilities provider’s stock, valued at approximately $701,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in shares of Spire by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after acquiring an additional 209 shares during the period. Advisor Group Inc. lifted its position in Spire by 62.0% during the fourth quarter. Advisor Group Inc. now owns 2,635 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 1,008 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Spire by 52.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,780 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 955 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Spire during the third quarter valued at approximately $209,000. Finally, HL Financial Services LLC bought a new stake in Spire during the third quarter valued at approximately $210,000. Institutional investors own 82.90% of the company’s stock.
Several brokerages have issued reports on SR. Morgan Stanley lifted their target price on shares of Spire from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Thursday, March 8th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Wednesday, January 10th. JPMorgan Chase & Co. dropped their target price on shares of Spire from $77.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, January 25th. Stifel Nicolaus reiterated a “hold” rating and set a $65.00 target price on shares of Spire in a research report on Friday, February 2nd. Finally, Hilliard Lyons upgraded shares of Spire to a “buy” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $69.83.
Shares of Spire Inc (NYSE:SR) opened at $68.75 on Thursday. Spire Inc has a 1 year low of $60.08 and a 1 year high of $82.85. The stock has a market cap of $3,304.32, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 4.06 and a beta of 0.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.53 and a current ratio of 0.70.
Spire (NYSE:SR) last announced its earnings results on Thursday, February 1st. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.13. The business had revenue of $561.80 million during the quarter, compared to analyst estimates of $516.16 million. Spire had a net margin of 12.86% and a return on equity of 8.91%. Spire’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 earnings per share. equities research analysts anticipate that Spire Inc will post 3.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 12th will be paid a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, March 9th. This is an increase from Spire’s previous quarterly dividend of $0.56. This represents a $2.25 annualized dividend and a dividend yield of 3.28%. Spire’s dividend payout ratio (DPR) is 45.73%.
ILLEGAL ACTIVITY WARNING: This article was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/03/15/cornercap-investment-counsel-inc-acquires-shares-of-9330-spire-inc-sr.html.
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.
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).
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.