TD Asset Management Inc Sells 2,600 Shares of Spire Inc. (NYSE:SR)

TD Asset Management Inc reduced its position in shares of Spire Inc. (NYSE:SR) by 3.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,800 shares of the utilities provider’s stock after selling 2,600 shares during the quarter. TD Asset Management Inc owned approximately 0.11% of Spire worth $3,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SR. International Assets Investment Management LLC purchased a new stake in Spire during the 2nd quarter valued at about $31,000. LRI Investments LLC bought a new position in Spire during the first quarter valued at $35,000. Fidelis Capital Partners LLC bought a new stake in shares of Spire in the 1st quarter worth about $37,000. Blue Trust Inc. lifted its holdings in shares of Spire by 26.8% in the 2nd quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 161 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Spire in the 1st quarter worth about $47,000. 87.36% of the stock is currently owned by institutional investors.

Spire Stock Down 2.1 %

SR stock opened at $64.77 on Thursday. The firm has a 50 day moving average of $64.67 and a 200 day moving average of $61.82. The stock has a market capitalization of $3.74 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 1.11. Spire Inc. has a 52 week low of $53.77 and a 52 week high of $68.02.

Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.04. Spire had a net margin of 9.40% and a return on equity of 8.10%. The business had revenue of $414.10 million during the quarter, compared to analysts’ expectations of $313.86 million. During the same period in the previous year, the business posted ($0.42) EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts forecast that Spire Inc. will post 4.23 earnings per share for the current year.

Spire Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Wednesday, September 11th. Spire’s dividend payout ratio (DPR) is 76.26%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Spire from $64.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Morgan Stanley cut their target price on shares of Spire from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.50.

Insider Activity

In related news, Director Maria V. Fogarty sold 6,590 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $65.15, for a total value of $429,338.50. Following the completion of the sale, the director now owns 9,800 shares of the company’s stock, valued at approximately $638,470. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Gerard J. Gorla sold 500 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $64.82, for a total transaction of $32,410.00. Following the completion of the sale, the vice president now owns 7,311 shares of the company’s stock, valued at $473,899.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maria V. Fogarty sold 6,590 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $65.15, for a total transaction of $429,338.50. Following the sale, the director now directly owns 9,800 shares of the company’s stock, valued at approximately $638,470. The disclosure for this sale can be found here. Insiders own 2.86% of the company’s stock.

Spire 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.