Cambridge Investment Research Advisors Inc. lifted its stake in shares of Spire Inc. (NYSE:SR – Free Report) by 31.8% during the second quarter, HoldingsChannel.com reports. The fund owned 8,780 shares of the utilities provider’s stock after buying an additional 2,119 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Spire were worth $557,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of SR. Duality Advisers LP purchased a new position in Spire during the first quarter valued at approximately $270,000. Integrated Advisors Network LLC purchased a new position in Spire during the first quarter valued at approximately $3,353,000. Credit Suisse AG increased its holdings in Spire by 4.6% during the first quarter. Credit Suisse AG now owns 64,360 shares of the utilities provider’s stock valued at $4,514,000 after buying an additional 2,813 shares during the period. Pacer Advisors Inc. purchased a new position in Spire during the second quarter valued at approximately $584,000. Finally, Nisa Investment Advisors LLC increased its holdings in Spire by 26.4% during the first quarter. Nisa Investment Advisors LLC now owns 8,749 shares of the utilities provider’s stock valued at $614,000 after buying an additional 1,825 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Spire
In related news, Director Paul D. Koonce acquired 5,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $59.27 per share, for a total transaction of $296,350.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $296,350. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Spire news, Director Paul D. Koonce bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $59.27 per share, for a total transaction of $296,350.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $296,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Adam W. Woodard bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were acquired at an average price of $58.70 per share, with a total value of $58,700.00. Following the completion of the transaction, the treasurer now directly owns 4,190 shares of the company’s stock, valued at $245,953. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 9,100 shares of company stock worth $450,592. Company insiders own 2.93% of the company’s stock.
Spire Trading Up 0.7 %
Spire (NYSE:SR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.40). Spire had a return on equity of 8.81% and a net margin of 9.05%. The company had revenue of $418.50 million for the quarter, compared to analyst estimates of $428.86 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Spire Inc. will post 4.18 earnings per share for the current year.
Spire Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.88 annualized dividend and a dividend yield of 4.97%. Spire’s payout ratio is currently 66.82%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. TheStreet lowered shares of Spire from a “b” rating to a “c+” rating in a report on Wednesday, August 2nd. StockNews.com began coverage on shares of Spire in a report on Thursday, October 5th. They set a “sell” rating on the stock. Morgan Stanley raised their target price on shares of Spire from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, September 21st. Mizuho upgraded shares of Spire from a “neutral” rating to a “buy” rating and lowered their target price for the company from $71.00 to $66.00 in a research note on Friday, September 29th. Finally, Royal Bank of Canada lowered their target price on shares of Spire from $67.00 to $66.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.63.
About Spire
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 through two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.
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