Amalgamated Bank reduced its position in Spire Inc. (NYSE:SR – Get Rating) by 4.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,868 shares of the utilities provider's stock after selling 1,427 shares during the quarter. Amalgamated Bank's holdings in Spire were worth $2,359,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SR. Cohen & Steers Inc. lifted its position in Spire by 31.8% during the first quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 154 shares during the last quarter. Guardian Wealth Management Inc. bought a new stake in Spire during the fourth quarter valued at approximately $65,000. MBM Wealth Consultants LLC lifted its position in Spire by 125.7% during the first quarter. MBM Wealth Consultants LLC now owns 1,072 shares of the utilities provider's stock valued at $77,000 after purchasing an additional 597 shares during the last quarter. Cyrus J. Lawrence LLC bought a new stake in Spire during the first quarter valued at approximately $84,000. Finally, Belpointe Asset Management LLC bought a new stake in Spire during the first quarter valued at approximately $105,000. 95.64% of the stock is currently owned by institutional investors.
Get Spire alerts:Spire Stock Down 2.1 %
Shares of NYSE SR opened at $67.94 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.72 and a debt-to-equity ratio of 1.23. Spire Inc. has a 52 week low of $59.60 and a 52 week high of $79.24. The firm's fifty day moving average is $72.08 and its 200 day moving average is $73.05. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 3.56 and a beta of 0.31.
Spire (NYSE:SR – Get Rating) last issued its earnings results on Thursday, August 4th. The utilities provider reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Spire had a net margin of 10.02% and a return on equity of 9.34%. The company had revenue of $448.00 million for the quarter, compared to the consensus estimate of $323.58 million. During the same period in the previous year, the firm earned $0.03 earnings per share. The firm's revenue for the quarter was up 36.7% on a year-over-year basis. On average, equities research analysts expect that Spire Inc. will post 3.9 earnings per share for the current year.Spire Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Monday, September 12th will be given a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Friday, September 9th. Spire's payout ratio is currently 69.90%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SR. JPMorgan Chase & Co. upgraded shares of Spire from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $74.00 to $78.00 in a report on Friday, September 9th. StockNews.com lowered shares of Spire from a "hold" rating to a "sell" rating in a report on Saturday, September 17th. Morgan Stanley boosted their price objective on shares of Spire from $77.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Spire from $77.00 to $78.00 and gave the stock an "equal weight" rating in a report on Monday, August 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $73.67.
Spire Company Profile
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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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