Spire Inc. (NYSE:SR) Shares Sold by Texas Permanent School Fund

Posted by on May 10th, 2023

Texas Permanent School Fund reduced its stake in shares of Spire Inc. (NYSE:SR – Get Rating) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,290 shares of the utilities provider’s stock after selling 2,466 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Spire worth $2,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in Spire by 2.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,345 shares of the utilities provider’s stock valued at $384,000 after purchasing an additional 142 shares during the period. Gamco Investors INC. ET AL lifted its position in Spire by 0.9% during the third quarter. Gamco Investors INC. ET AL now owns 16,850 shares of the utilities provider’s stock valued at $1,050,000 after purchasing an additional 150 shares during the period. Cohen & Steers Inc. lifted its position in Spire by 31.8% during the first quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 154 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Spire by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,441 shares of the utilities provider’s stock valued at $1,063,000 after purchasing an additional 167 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Spire by 5.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,826 shares of the utilities provider’s stock valued at $238,000 after purchasing an additional 196 shares during the period. 99.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SR. Morgan Stanley boosted their target price on shares of Spire from $70.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, April 20th. TheStreet raised shares of Spire from a “c+” rating to a “b” rating in a report on Friday, February 3rd. Mizuho lifted their price objective on shares of Spire from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. Stifel Nicolaus cut shares of Spire from a “buy” rating to a “hold” rating and lifted their price objective for the company from $73.00 to $75.00 in a report on Monday, February 6th. Finally, StockNews.com started coverage on shares of Spire in a report on Thursday, March 16th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.63.

Spire Stock Up 0.2 %

SR stock opened at $68.44 on Wednesday. The stock has a market capitalization of $3.60 billion, a P/E ratio of 14.59, a P/E/G ratio of 3.89 and a beta of 0.49. The firm has a 50-day simple moving average of $69.25 and a 200-day simple moving average of $70.05. The company has a quick ratio of 0.64, a current ratio of 0.79 and a debt-to-equity ratio of 1.35. Spire Inc. has a 52 week low of $61.52 and a 52 week high of $78.86.

Spire (NYSE:SR – Get Rating) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.21. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $887.98 million. Spire had a net margin of 9.69% and a return on equity of 9.75%. The company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.42 earnings per share. Equities analysts forecast that Spire Inc. will post 4.24 earnings per share for the current fiscal year.

Spire Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 12th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, June 9th. This represents a $2.88 annualized dividend and a yield of 4.21%. Spire’s dividend payout ratio is presently 61.41%.

Spire Profile

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Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the Gas Utility and Gas Marketing Business segments. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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