Key Points
- Director Paul Koonce bought 500 shares of Spire at $80.50 each, a $40,250 purchase that lifted his stake to 7,500 shares.
- Spire reported quarterly EPS of $3.76, topping estimates, though revenue of $1.02 billion came in below expectations.
- The company declared a quarterly dividend of $0.825 per share, implying an annualized yield of about 4.1%.
Spire Inc. (NYSE:SR - Get Free Report) Director Paul Koonce bought 500 shares of the company's stock in a transaction on Monday, June 1st. The stock was bought at an average price of $80.50 per share, with a total value of $40,250.00. Following the completion of the acquisition, the director owned 7,500 shares in the company, valued at $603,750. This represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Spire Stock Down 0.0%
Shares of NYSE:SR opened at $81.07 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.69. The business has a fifty day moving average of $88.76 and a two-hundred day moving average of $87.16. The stock has a market cap of $4.79 billion, a P/E ratio of 14.25, a PEG ratio of 1.81 and a beta of 0.52. Spire Inc. has a 52-week low of $71.24 and a 52-week high of $95.31.
Spire (NYSE:SR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.07 billion. Spire had a return on equity of 9.49% and a net margin of 13.97%.The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 EPS. On average, research analysts expect that Spire Inc. will post 4.01 earnings per share for the current year.
Spire Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, June 11th. Spire's dividend payout ratio is presently 58.00%.
Hedge Funds Weigh In On Spire
Hedge funds have recently bought and sold shares of the company. Community Bank N.A. acquired a new position in Spire during the 3rd quarter worth about $25,000. Sound Income Strategies LLC acquired a new position in Spire during the 4th quarter worth about $25,000. Optima Capital LLC acquired a new position in Spire during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new position in Spire during the 4th quarter worth about $25,000. Finally, Smartleaf Asset Management LLC lifted its stake in Spire by 186.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 370 shares of the utilities provider's stock worth $30,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on SR shares. TD Cowen started coverage on Spire in a research note on Thursday, April 16th. They issued a "hold" rating and a $101.00 price target on the stock. Wells Fargo & Company started coverage on Spire in a research note on Monday, May 11th. They issued an "overweight" rating and a $96.00 price target on the stock. Weiss Ratings raised Spire from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. UBS Group decreased their price target on Spire from $106.00 to $103.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Spire from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $96.22.
Check Out Our Latest Stock Analysis on Spire
About Spire
(
Get Free Report)
Spire Inc (NYSE: SR), formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.
Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.
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