Ameriprise Financial Inc. Boosts Holdings in Spire Inc. (SR)
Ameriprise Financial Inc. raised its holdings in shares of Spire Inc. (NYSE:SR) by 19.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 360,322 shares of the utilities provider’s stock after purchasing an additional 58,296 shares during the period. Ameriprise Financial Inc. owned 0.75% of Spire worth $25,134,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of SR. LS Investment Advisors LLC increased its position in Spire by 13.0% during the 2nd quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 206 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Spire by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after buying an additional 144 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Spire in the 2nd quarter valued at about $222,000. Creative Planning boosted its holdings in shares of Spire by 6.1% in the 2nd quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock valued at $267,000 after buying an additional 220 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Spire by 19.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,009 shares of the utilities provider’s stock valued at $271,000 after buying an additional 654 shares in the last quarter. 79.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Spire Inc. (NYSE SR) opened at 75.10 on Thursday. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $78.00. The company has a market capitalization of $3.62 billion, a PE ratio of 21.70 and a beta of 0.33. The stock has a 50 day moving average of $76.02 and a 200-day moving average of $71.00.
Spire (NYSE:SR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The firm had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts predict that Spire Inc. will post $3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.80%. Spire’s payout ratio is 60.17%.
A number of analysts have recently weighed in on SR shares. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and issued a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. Finally, Morgan Stanley raised their price target on shares of Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Spire has an average rating of “Hold” and an average target price of $72.17.
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Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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