Spire Inc. (NYSE:SR) Stock Position Lowered by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its position in shares of Spire Inc. (NYSE:SR) by 30.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 195,999 shares of the utilities provider’s stock after selling 84,904 shares during the period. Brandywine Global Investment Management LLC’s holdings in Spire were worth $13,295,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Spire in the 4th quarter valued at about $42,432,000. JPMorgan Chase & Co. lifted its stake in Spire by 48.0% during the fourth quarter. JPMorgan Chase & Co. now owns 428,701 shares of the utilities provider’s stock valued at $29,079,000 after purchasing an additional 138,971 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Spire during the fourth quarter valued at approximately $8,277,000. Bank of New York Mellon Corp boosted its holdings in Spire by 15.8% during the fourth quarter. Bank of New York Mellon Corp now owns 778,442 shares of the utilities provider’s stock worth $52,802,000 after buying an additional 106,386 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Spire by 13.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 731,682 shares of the utilities provider’s stock worth $49,630,000 after buying an additional 85,476 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Spire Price Performance

Shares of SR opened at $78.18 on Monday. The business’s 50-day moving average is $74.24 and its 200-day moving average is $69.61. 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 company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.82 and a beta of 0.53. Spire Inc. has a fifty-two week low of $57.27 and a fifty-two week high of $78.83.

Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a net margin of 9.70% and a return on equity of 7.88%. Equities research analysts expect that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 11th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.14 annualized dividend and a dividend yield of 4.02%. Spire’s dividend payout ratio is 76.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Janney Montgomery Scott assumed coverage on Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 price objective for the company. JPMorgan Chase & Co. raised Spire from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $85.00 in a report on Thursday, March 20th. Bank of America assumed coverage on Spire in a research note on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target on the stock. StockNews.com lowered shares of Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. Finally, Mizuho lifted their target price on shares of Spire from $76.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.00.

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.