Insider Buying: Spire Inc. (NYSE:SR) EVP Acquires 1,703 Shares of Stock

Spire Inc. (NYSE:SRGet Rating) EVP Steven P. Rasche acquired 1,703 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average price of $24.09 per share, for a total transaction of $41,025.27. Following the acquisition, the executive vice president now owns 9,500 shares of the company’s stock, valued at $228,855. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NYSE:SR opened at $74.13 on Thursday. Spire Inc. has a 1 year low of $59.60 and a 1 year high of $79.24. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 3.76 and a beta of 0.29. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.83 and a quick ratio of 0.64. The business’s 50 day moving average price is $72.30 and its 200-day moving average price is $66.92.

Spire (NYSE:SRGet Rating) last announced its earnings results on Friday, May 6th. The utilities provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The firm had revenue of $880.90 million for the quarter, compared to analyst estimates of $849.50 million. Spire had a return on equity of 10.13% and a net margin of 10.29%. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.71 EPS. On average, sell-side analysts expect that Spire Inc. will post 3.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 10th will be issued a $0.685 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.74 dividend on an annualized basis and a yield of 3.70%. Spire’s payout ratio is currently 67.65%.

SR has been the topic of several research reports. Mizuho increased their price target on shares of Spire from $68.00 to $74.00 in a report on Friday, April 29th. Wells Fargo & Company increased their price target on shares of Spire from $70.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. Zacks Investment Research downgraded shares of Spire from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a report on Tuesday, April 12th. StockNews.com upgraded shares of Spire from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet raised shares of Spire from a “c+” rating to a “b” rating in a research note on Monday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.33.

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Spire by 229.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,500,546 shares of the utilities provider’s stock worth $97,865,000 after acquiring an additional 1,045,621 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Spire by 60.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,326,654 shares of the utilities provider’s stock worth $86,524,000 after purchasing an additional 498,156 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Spire by 48,001.6% during the 3rd quarter. William Blair Investment Management LLC now owns 490,636 shares of the utilities provider’s stock worth $30,017,000 after purchasing an additional 489,616 shares during the last quarter. Norges Bank acquired a new stake in shares of Spire during the 4th quarter worth about $26,396,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Spire by 116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 625,933 shares of the utilities provider’s stock worth $40,824,000 after purchasing an additional 336,825 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.

Spire Company Profile (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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