Spire (NYSE:SR) Releases FY22 Earnings Guidance

Spire (NYSE:SRGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.75-3.95 for the period, compared to the consensus estimate of $3.90. Spire also updated its FY 2022 guidance to $3.75-$3.95 EPS.

Spire Price Performance

Shares of SR stock traded down $0.85 during trading on Friday, hitting $72.31. The company had a trading volume of 296,278 shares, compared to its average volume of 250,032. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market capitalization of $3.77 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 3.74 and a beta of 0.29. The stock’s 50-day moving average price is $73.49 and its 200 day moving average price is $71.38. Spire has a one year low of $59.60 and a one year high of $79.24.

Spire (NYSE:SRGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $448.00 million during the quarter, compared to analysts’ expectations of $323.58 million. Spire had a return on equity of 9.34% and a net margin of 10.02%. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. Equities analysts expect that Spire will post 3.91 EPS for the current fiscal year.

Spire Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, September 9th. Spire’s payout ratio is presently 69.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SR. Sidoti downgraded shares of Spire from a buy rating to a neutral rating in a report on Wednesday, April 13th. Mizuho increased their price objective on Spire from $74.00 to $77.00 and gave the company a neutral rating in a report on Wednesday, May 25th. StockNews.com upgraded Spire from a sell rating to a hold rating in a report on Wednesday, May 11th. Wells Fargo & Company increased their price objective on Spire from $70.00 to $81.00 and gave the company an equal weight rating in a report on Tuesday, April 19th. Finally, Morgan Stanley decreased their price objective on Spire from $78.00 to $77.00 and set an equal weight rating for the company in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $72.33.

Insider Activity at Spire

In related news, Treasurer Adam W. Woodard sold 2,211 shares of Spire stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $74.35, for a total value of $164,387.85. Following the completion of the transaction, the treasurer now directly owns 1,327 shares in the company, valued at approximately $98,662.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Steven P. Rasche purchased 1,703 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $24.09 per share, with a total value of $41,025.27. Following the acquisition, the executive vice president now directly owns 9,500 shares in the company, valued at $228,855. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Treasurer Adam W. Woodard sold 2,211 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $74.35, for a total transaction of $164,387.85. Following the completion of the transaction, the treasurer now directly owns 1,327 shares of the company’s stock, valued at $98,662.45. The disclosure for this sale can be found here. 2.97% of the stock is owned by company insiders.

Institutional Trading of Spire

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Spire by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 5,212,332 shares of the utilities provider’s stock worth $374,037,000 after acquiring an additional 106,938 shares during the last quarter. State Street Corp lifted its stake in Spire by 34.1% in the first quarter. State Street Corp now owns 2,252,151 shares of the utilities provider’s stock worth $163,065,000 after purchasing an additional 572,381 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Spire by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 820,849 shares of the utilities provider’s stock worth $58,904,000 after purchasing an additional 28,953 shares during the last quarter. Invesco Ltd. lifted its stake in Spire by 68.0% in the first quarter. Invesco Ltd. now owns 762,483 shares of the utilities provider’s stock worth $54,715,000 after purchasing an additional 308,550 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Spire by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 582,773 shares of the utilities provider’s stock worth $41,820,000 after purchasing an additional 26,874 shares during the last quarter. 84.91% of the stock is owned by institutional investors.

About Spire

(Get Rating)

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 in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.

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