Denver Investment Advisors LLC increased its holdings in Spire Inc (NYSE:SR) by 3.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 379,960 shares of the utilities provider’s stock after buying an additional 11,057 shares during the period. Spire makes up 1.5% of Denver Investment Advisors LLC’s holdings, making the stock its 5th largest holding. Denver Investment Advisors LLC’s holdings in Spire were worth $27,471,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SR. Advisor Group Inc. raised its position in shares of Spire by 62.0% in the fourth quarter. Advisor Group Inc. now owns 2,635 shares of the utilities provider’s stock valued at $198,000 after buying an additional 1,008 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 in the last quarter. Parametrica Management Ltd acquired a new position in Spire during the fourth quarter valued at approximately $222,000. Private Advisor Group LLC acquired a new position in Spire during the first quarter valued at approximately $226,000. Finally, Zeke Capital Advisors LLC acquired a new position in Spire during the fourth quarter valued at approximately $227,000. Institutional investors own 81.80% of the company’s stock.
Several research analysts have commented on the stock. Stifel Nicolaus boosted their price objective on shares of Spire from $65.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, May 3rd. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Friday, April 6th. Bank of America downgraded shares of Spire from a “buy” rating to a “neutral” rating and set a $75.00 price objective for the company. in a research report on Friday, May 4th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered their price objective 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. Finally, Credit Suisse Group downgraded shares of Spire from an “outperform” rating to a “neutral” rating in a research report on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Spire currently has an average rating of “Hold” and an average target price of $72.29.
Spire (NYSE:SR) last posted its earnings results on Wednesday, May 2nd. The utilities provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.35. The firm had revenue of $813.40 million for the quarter, compared to analysts’ expectations of $685.12 million. Spire had a net margin of 11.37% and a return on equity of 9.99%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 earnings per share. sell-side analysts anticipate that Spire Inc will post 3.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Monday, June 11th will be paid a dividend of $0.5625 per share. The ex-dividend date of this dividend is Friday, June 8th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.20%. Spire’s payout ratio is presently 63.20%.
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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