Enterprise Financial Services Corp reduced its stake in Spire Inc. (NYSE:SR) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,877 shares of the utilities provider’s stock after selling 297 shares during the period. Enterprise Financial Services Corp’s holdings in Spire were worth $201,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Spire by 11,569.5% in the first quarter. BlackRock Inc. now owns 5,712,688 shares of the utilities provider’s stock valued at $385,606,000 after buying an additional 5,663,734 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Spire by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,219,000 shares of the utilities provider’s stock valued at $284,783,000 after buying an additional 216,388 shares in the last quarter. State Street Corp boosted its stake in shares of Spire by 7.0% in the first quarter. State Street Corp now owns 1,168,925 shares of the utilities provider’s stock valued at $78,909,000 after buying an additional 76,134 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Spire by 6.9% in the first quarter. Wells Fargo & Company MN now owns 979,376 shares of the utilities provider’s stock valued at $66,108,000 after buying an additional 62,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Spire by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 891,803 shares of the utilities provider’s stock valued at $60,196,000 after buying an additional 5,863 shares during the period. 78.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Spire Inc. (SR) traded up 0.13% during midday trading on Friday, hitting $75.85. 126,311 shares of the company were exchanged. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 21.92 and a beta of 0.33. Spire Inc. has a one year low of $59.54 and a one year high of $76.80. The firm’s 50 day moving average price is $72.50 and its 200 day moving average price is $69.10.
Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. The business had revenue of $323.50 million during the quarter, compared to the consensus estimate of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. Analysts forecast that Spire Inc. will post $3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.77%. Spire’s dividend payout ratio is currently 60.17%.
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Several research firms have recently commented on SR. Morgan Stanley increased their price target on shares of Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reissued a “hold” rating and set a $73.00 price target on shares of Spire in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and issued a $71.00 price objective on shares of Spire in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Spire from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Spire has a consensus rating of “Hold” and a consensus price target of $71.43.
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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