New York State Teachers Retirement System cut its stake in Spire Inc (NYSE:SR) by 17.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 77,045 shares of the utilities provider’s stock after selling 16,053 shares during the quarter. New York State Teachers Retirement System’s holdings in Spire were worth $6,340,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. JOYN Advisors Inc. lifted its stake in Spire by 115.3% in the 4th quarter. JOYN Advisors Inc. now owns 407 shares of the utilities provider’s stock valued at $30,000 after buying an additional 218 shares in the last quarter. Resources Investment Advisors Inc. purchased a new position in Spire in the 4th quarter valued at about $37,000. Parkside Financial Bank & Trust lifted its stake in Spire by 90.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 593 shares of the utilities provider’s stock valued at $44,000 after buying an additional 281 shares in the last quarter. Clarus Wealth Advisors purchased a new position in Spire in the 4th quarter valued at about $44,000. Finally, Lindbrook Capital LLC acquired a new stake in Spire in the 4th quarter valued at about $65,000. 79.75% of the stock is currently owned by hedge funds and other institutional investors.
SR has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Tuesday, May 7th. Credit Suisse Group reiterated a “hold” rating and issued a $72.00 price objective on shares of Spire in a report on Thursday, February 7th. Wells Fargo & Co downgraded shares of Spire from an “outperform” rating to a “market perform” rating and set a $92.00 price objective for the company. in a report on Friday. They noted that the move was a valuation call. Finally, Morgan Stanley set a $80.00 price objective on shares of Spire and gave the company a “sell” rating in a report on Thursday, May 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $80.71.
SR stock opened at $85.71 on Friday. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 6.03 and a beta of 0.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.59 and a quick ratio of 0.50. Spire Inc has a 12 month low of $64.95 and a 12 month high of $87.13.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $2.90 EPS for the quarter, beating the Zacks’ consensus estimate of $2.63 by $0.27. The company had revenue of $803.50 million during the quarter, compared to the consensus estimate of $795.74 million. Spire had a net margin of 11.12% and a return on equity of 8.05%. Spire’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.83 EPS. On average, sell-side analysts expect that Spire Inc will post 3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be issued a $0.5925 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.37 dividend on an annualized basis and a yield of 2.77%. Spire’s payout ratio is 63.71%.
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Spire Company Profile
Spire Inc, through 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 marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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