Spire Inc. (NYSE:SR) Plans $0.69 Quarterly Dividend

Spire Inc. (NYSE:SRGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Monday, September 12th will be given a dividend of 0.685 per share by the utilities provider on Tuesday, October 4th. This represents a $2.74 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, September 9th.

Spire has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Spire to earn $4.38 per share next year, which means the company should continue to be able to cover its $2.74 annual dividend with an expected future payout ratio of 62.6%.

Spire Stock Down 1.9 %

Shares of SR stock traded down $1.42 on Friday, hitting $71.74. The company’s stock had a trading volume of 4,836 shares, compared to its average volume of 246,417. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.66. Spire has a fifty-two week low of $59.60 and a fifty-two week high of $79.24. The firm’s fifty day moving average price is $73.62 and its 200-day moving average price is $71.34. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 3.77 and a beta of 0.29.

Spire (NYSE:SRGet Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Spire had a net margin of 10.94% and a return on equity of 9.59%. The business had revenue of $448.00 million during the quarter, compared to analyst estimates of $323.58 million. During the same quarter in the previous year, the business earned $0.03 EPS. Spire’s quarterly revenue was up 36.7% compared to the same quarter last year. Research analysts anticipate that Spire will post 3.91 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on SR. StockNews.com raised shares of Spire from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Sidoti lowered shares of Spire from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 13th. Morgan Stanley cut their target price on shares of Spire from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 26th. Mizuho boosted their target price on shares of Spire from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 25th. Finally, Wells Fargo & Company boosted their target price on shares of Spire from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $72.33.

Insider Activity at Spire

In other Spire news, EVP Steven P. Rasche bought 1,703 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were acquired at an average price of $24.09 per share, with a total value of $41,025.27. Following the completion of the purchase, the executive vice president now directly owns 9,500 shares in the company, valued at approximately $228,855. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Steven P. Rasche acquired 1,703 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were purchased at an average cost of $24.09 per share, with a total value of $41,025.27. Following the completion of the purchase, the executive vice president now owns 9,500 shares of the company’s stock, valued at $228,855. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer Adam W. Woodard sold 2,211 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $74.35, for a total transaction of $164,387.85. Following the sale, the treasurer now directly owns 1,327 shares in the company, valued at $98,662.45. The disclosure for this sale can be found here. 2.97% of the stock is currently owned by insiders.

Institutional Trading of Spire

Hedge funds have recently modified their holdings of the stock. Walleye Capital LLC acquired a new position in Spire in the first quarter valued at approximately $1,718,000. Ethic Inc. lifted its holdings in Spire by 58.3% in the first quarter. Ethic Inc. now owns 10,595 shares of the utilities provider’s stock valued at $760,000 after buying an additional 3,900 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Spire by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,826 shares of the utilities provider’s stock valued at $562,000 after buying an additional 645 shares during the period. Jane Street Group LLC lifted its holdings in Spire by 116.3% in the first quarter. Jane Street Group LLC now owns 7,666 shares of the utilities provider’s stock valued at $550,000 after buying an additional 4,122 shares during the period. Finally, Bridgewater Associates LP lifted its holdings in Spire by 103.5% in the first quarter. Bridgewater Associates LP now owns 6,243 shares of the utilities provider’s stock valued at $448,000 after buying an additional 3,175 shares during the period. 84.91% of the stock is owned by institutional investors.

About Spire

(Get Rating)

Spire Inc, together with 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 in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.

See Also

Dividend History for Spire (NYSE:SR)

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