Spire (NYSE:SR – Get Rating) posted its earnings results on Thursday. The utilities provider reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01, Briefing.com reports. Spire had a return on equity of 9.59% and a net margin of 10.94%. The company had revenue of $448.00 million for the quarter, compared to the consensus estimate of $323.58 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. Spire updated its FY22 guidance to $3.75-3.95 EPS and its FY 2022 guidance to $3.75-$3.95 EPS.
Spire Price Performance
NYSE SR traded down $0.85 on Friday, hitting $72.31. 296,275 shares of the company’s stock were exchanged, compared to its average volume of 355,501. The stock has a 50-day moving average of $73.49 and a 200-day moving average of $71.38. The company has a current ratio of 0.78, a quick ratio of 0.66 and a debt-to-equity ratio of 1.23. Spire has a 52 week low of $59.60 and a 52 week high of $79.24. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 3.77 and a beta of 0.29.
Spire Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a yield of 3.79%. The ex-dividend date is Friday, September 9th. Spire’s payout ratio is presently 67.65%.
Insiders Place Their Bets
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Spire by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 5,212,332 shares of the utilities provider’s stock worth $374,037,000 after purchasing an additional 106,938 shares during the last quarter. State Street Corp grew its holdings in Spire by 34.1% during the 1st quarter. State Street Corp now owns 2,252,151 shares of the utilities provider’s stock worth $163,065,000 after acquiring an additional 572,381 shares during the period. Dimensional Fund Advisors LP grew its holdings in Spire by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 820,849 shares of the utilities provider’s stock worth $58,904,000 after acquiring an additional 28,953 shares during the period. Invesco Ltd. grew its holdings in Spire by 68.0% during the 1st quarter. Invesco Ltd. now owns 762,483 shares of the utilities provider’s stock worth $54,715,000 after acquiring an additional 308,550 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Spire by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 582,773 shares of the utilities provider’s stock worth $41,820,000 after acquiring an additional 26,874 shares during the period. 84.91% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently commented on SR. Morgan Stanley decreased their target price on Spire from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 26th. Sidoti downgraded Spire from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 13th. Mizuho increased their price target on Spire from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 25th. StockNews.com raised Spire from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Wells Fargo & Company increased their price target on Spire from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, Spire has an average rating of “Hold” and an average price target of $72.33.
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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