Fmr LLC Grows Stake in Spire Inc. (NYSE:SR)

Fmr LLC increased its holdings in shares of Spire Inc. (NYSE:SR) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,547 shares of the utilities provider’s stock after purchasing an additional 502 shares during the quarter. Fmr LLC’s holdings in Spire were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SR. Janney Montgomery Scott LLC purchased a new position in shares of Spire during the third quarter worth about $787,000. Allspring Global Investments Holdings LLC boosted its position in shares of Spire by 116.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider’s stock valued at $1,886,000 after purchasing an additional 15,060 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in Spire by 12.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 288,339 shares of the utilities provider’s stock worth $17,511,000 after buying an additional 31,923 shares during the last quarter. Victory Capital Management Inc. grew its stake in Spire by 11.0% during the 2nd quarter. Victory Capital Management Inc. now owns 698,819 shares of the utilities provider’s stock worth $42,439,000 after buying an additional 69,020 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Spire during the third quarter worth approximately $790,000. 87.36% of the stock is owned by institutional investors and hedge funds.

Spire Stock Up 1.7 %

SR stock opened at $65.55 on Friday. The stock has a market capitalization of $3.79 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. The company has a fifty day moving average of $67.42 and a 200-day moving average of $65.00. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.30 and a current ratio of 0.45. Spire Inc. has a one year low of $56.36 and a one year high of $73.64.

Spire Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be given a $3.14 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $12.56 dividend on an annualized basis and a yield of 19.16%. This is an increase from Spire’s previous quarterly dividend of $0.76. Spire’s dividend payout ratio (DPR) is presently 72.85%.

Insider Activity at Spire

In other Spire news, Director Paul D. Koonce acquired 1,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the transaction, the director now owns 2,425 shares of the company’s stock, valued at $178,504.25. The trade was a 70.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Adam W. Woodard sold 1,150 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the completion of the sale, the treasurer now directly owns 2,587 shares of the company’s stock, valued at approximately $174,544.89. This trade represents a 30.77 % decrease in their position. The disclosure for this sale can be found here. 2.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Spire from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com downgraded shares of Spire from a “hold” rating to a “sell” rating in a research report on Friday, November 29th. Bank of America began coverage on shares of Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, Janney Montgomery Scott assumed coverage on shares of Spire in a research note on Tuesday. They set a “neutral” rating and a $73.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Spire currently has an average rating of “Hold” and an average price target of $70.28.

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.