Wealthfront Advisers LLC bought a new stake in Spire Inc. (NYSE:SR – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 37,751 shares of the utilities provider’s stock, valued at approximately $2,561,000.
Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Spire in the 3rd quarter valued at $25,000. Golden State Wealth Management LLC purchased a new stake in shares of Spire during the fourth quarter valued at $27,000. GAMMA Investing LLC grew its holdings in shares of Spire by 87.2% in the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 204 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Spire by 1,318.4% in the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 501 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Spire in the 4th quarter worth about $37,000. Institutional investors own 87.36% of the company’s stock.
Spire Price Performance
SR opened at $76.13 on Friday. The firm has a market capitalization of $4.44 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.53. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.50 and a quick ratio of 0.37. The business’s 50-day moving average is $72.29 and its two-hundred day moving average is $68.77. Spire Inc. has a 1 year low of $57.27 and a 1 year high of $78.80.
Spire Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Tuesday, March 11th. Spire’s payout ratio is presently 76.03%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on SR shares. LADENBURG THALM/SH SH raised shares of Spire from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, February 26th. Janney Montgomery Scott assumed coverage on Spire in a report on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price target for the company. Mizuho upgraded Spire from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $76.00 in a report on Friday, December 20th. Bank of America began coverage on Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Spire presently has a consensus rating of “Hold” and a consensus target price of $74.00.
Check Out Our Latest Report on Spire
Spire Company Profile
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.
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