Fmr LLC Cuts Holdings in Spire Inc (SR)

Fmr LLC lowered its stake in Spire Inc (NYSE:SR) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 686,645 shares of the utilities provider’s stock after selling 59,738 shares during the quarter. Fmr LLC’s holdings in Spire were worth $50,868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Macquarie Group Ltd. grew its stake in Spire by 15.8% during the fourth quarter. Macquarie Group Ltd. now owns 1,208,210 shares of the utilities provider’s stock worth $89,504,000 after buying an additional 164,422 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Spire by 4.5% in the fourth quarter. Legal & General Group Plc now owns 335,283 shares of the utilities provider’s stock worth $24,822,000 after acquiring an additional 14,474 shares during the last quarter. Smith Moore & CO. lifted its holdings in shares of Spire by 3.7% in the fourth quarter. Smith Moore & CO. now owns 11,155 shares of the utilities provider’s stock worth $826,000 after acquiring an additional 399 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Spire in the fourth quarter worth about $1,299,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Spire by 31.6% in the fourth quarter. Gotham Asset Management LLC now owns 4,937 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 1,185 shares during the last quarter. 82.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on SR. Credit Suisse Group cut shares of Spire from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $74.00 to $72.00 in a report on Wednesday, January 23rd. They noted that the move was a valuation call. Guggenheim cut shares of Spire from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Tuesday, January 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Spire presently has an average rating of “Hold” and a consensus price target of $75.75.

Shares of NYSE SR opened at $81.23 on Wednesday. The company has a market capitalization of $4.16 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 6.46 and a beta of 0.23. Spire Inc has a 1 year low of $64.95 and a 1 year high of $83.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.58 and a quick ratio of 0.44.

Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The business had revenue of $602.00 million during the quarter, compared to the consensus estimate of $602.54 million. Spire had a net margin of 8.25% and a return on equity of 8.52%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 EPS. Analysts forecast that Spire Inc will post 3.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 11th were given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, March 8th. Spire’s dividend payout ratio is presently 63.71%.

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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 in the United States. The company operates through two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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