Nisa Investment Advisors LLC Cuts Stake in Spire Inc. (NYSE:SR)

Nisa Investment Advisors LLC cut its stake in Spire Inc. (NYSE:SR) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,192 shares of the utilities provider’s stock after selling 2,134 shares during the period. Nisa Investment Advisors LLC’s holdings in Spire were worth $711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Spire by 13.0% in the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock worth $125,000 after buying an additional 206 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock worth $223,000 after buying an additional 255 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Spire during the first quarter worth about $242,000. Finally, Creative Planning increased its position in shares of Spire by 6.1% in the second quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock worth $267,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 78.59% of the company’s stock.

Spire Inc. (SR) opened at 75.85 on Friday. The firm’s 50 day moving average price is $72.50 and its 200-day moving average price is $69.10. The stock has a market cap of $3.66 billion, a P/E ratio of 21.92 and a beta of 0.33. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $76.80.

Spire (NYSE:SR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The business had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. Equities research analysts anticipate that Spire Inc. will post $3.57 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s dividend payout ratio (DPR) is presently 60.17%.

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A number of research analysts recently issued reports on the company. Royal Bank Of Canada restated a “hold” rating and set a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. Zacks Investment Research upgraded Spire from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Morgan Stanley boosted their price target on Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Finally, Stifel Nicolaus restated a “hold” rating and set a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.43.

Spire Company Profile

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.

Institutional Ownership by Quarter for Spire (NYSE:SR)

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