Tower Research Capital LLC TRC Buys 39,647 Shares of Spire Inc. (NYSE:SR)

Tower Research Capital LLC TRC increased its stake in Spire Inc. (NYSE:SRFree Report) by 592.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,338 shares of the utilities provider’s stock after purchasing an additional 39,647 shares during the period. Tower Research Capital LLC TRC owned approximately 0.08% of Spire worth $2,889,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Spire by 34.4% in the fourth quarter. Signaturefd LLC now owns 887 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 227 shares during the period. Jones Financial Companies Lllp grew its position in Spire by 30.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,349 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 313 shares during the last quarter. Strs Ohio grew its position in Spire by 11.5% in the fourth quarter. Strs Ohio now owns 2,900 shares of the utilities provider’s stock valued at $180,000 after acquiring an additional 300 shares during the last quarter. Dupree Financial Group LLC bought a new position in Spire in the fourth quarter valued at about $211,000. Finally, Cape Cod Five Cents Savings Bank bought a new position in Spire in the third quarter valued at about $205,000. Institutional investors own 87.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SR. Wells Fargo & Company lifted their target price on Spire from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their target price on Spire from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Mizuho lowered Spire from a “buy” rating to a “neutral” rating and cut their price target for the company from $64.00 to $62.00 in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH began coverage on Spire in a research note on Friday, April 26th. They set a “neutral” rating and a $57.50 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price target on shares of Spire in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.17.

Check Out Our Latest Research Report on SR

Spire Price Performance

Spire stock opened at $59.74 on Friday. The stock’s 50 day moving average is $60.78 and its 200 day moving average is $60.72. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.48. The firm has a market cap of $3.45 billion, a P/E ratio of 15.09, a P/E/G ratio of 2.76 and a beta of 0.51. Spire Inc. has a one year low of $53.77 and a one year high of $67.77.

Spire (NYSE:SRGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.86 by ($0.41). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.21 billion. Spire had a return on equity of 7.88% and a net margin of 9.05%. Spire’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 earnings per share. As a group, research analysts expect that Spire Inc. will post 4.33 EPS for the current year.

Spire Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 11th will be paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Tuesday, June 11th. Spire’s dividend payout ratio is currently 76.26%.

Insider Buying and Selling

In other Spire news, Treasurer Adam W. Woodard sold 1,229 shares of Spire stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the sale, the treasurer now directly owns 1,560 shares in the company, valued at $92,944.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.86% of the stock is owned by insiders.

Spire Company Profile

(Free Report)

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 through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.

Further Reading

Institutional Ownership by Quarter for Spire (NYSE:SR)

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