Spire (NYSE:SR) Posts Quarterly Earnings Results, Hits Estimates

Spire (NYSE:SRGet 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

In other Spire news, EVP Steven P. Rasche bought 1,703 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $24.09 per share, for a total transaction of $41,025.27. Following the completion of the purchase, the executive vice president now directly owns 9,500 shares of the company’s stock, valued at $228,855. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Steven P. Rasche purchased 1,703 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $24.09 per share, for a total transaction of $41,025.27. Following the purchase, the executive vice president now owns 9,500 shares of the company’s stock, valued at $228,855. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Adam W. Woodard sold 2,211 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $74.35, for a total value of $164,387.85. Following the completion of the transaction, the treasurer now owns 1,327 shares of the company’s stock, valued at $98,662.45. The disclosure for this sale can be found here. Corporate insiders own 2.97% of the company’s stock.

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.

About Spire

(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.

Recommended Stories

Earnings History for Spire (NYSE:SR)

Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.