Cynosure Group LLC purchased a new position in shares of Spire Inc. (NYSE:SR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 60,436 shares of the utilities provider's stock, valued at approximately $4,067,000. Cynosure Group LLC owned 0.10% of Spire at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of SR. BNP Paribas Financial Markets increased its holdings in shares of Spire by 18.8% in the third quarter. BNP Paribas Financial Markets now owns 16,034 shares of the utilities provider's stock valued at $1,079,000 after purchasing an additional 2,542 shares during the period. FMR LLC increased its stake in Spire by 10.0% in the 3rd quarter. FMR LLC now owns 5,547 shares of the utilities provider's stock valued at $373,000 after buying an additional 502 shares during the period. Larson Financial Group LLC raised its position in Spire by 1,318.4% during the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider's stock worth $36,000 after buying an additional 501 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Spire by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 805,932 shares of the utilities provider's stock worth $54,231,000 after buying an additional 36,214 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Spire in the third quarter valued at about $790,000. 87.36% of the stock is owned by hedge funds and other institutional investors.
Spire Price Performance
Shares of Spire stock traded up $0.37 on Wednesday, hitting $72.97. The company's stock had a trading volume of 107,551 shares, compared to its average volume of 414,114. The company has a market capitalization of $4.21 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.25 and a beta of 0.52. Spire Inc. has a 52-week low of $56.36 and a 52-week high of $73.64. The firm has a fifty day moving average price of $66.11 and a 200-day moving average price of $64.03. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.
Spire Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 11th will be issued a $3.14 dividend. This represents a $12.56 annualized dividend and a dividend yield of 17.21%. The ex-dividend date is Wednesday, December 11th. This is an increase from Spire's previous quarterly dividend of $0.76. Spire's dividend payout ratio is 70.07%.
Analyst Ratings Changes
A number of brokerages have weighed in on SR. StockNews.com lowered Spire from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. UBS Group lifted their price target on Spire from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Mizuho upped their price objective on Spire from $62.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Stifel Nicolaus reduced their target price on Spire from $70.00 to $69.00 and set a "hold" rating for the company in a report on Friday, November 22nd. Finally, Morgan Stanley lowered their price target on shares of Spire from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $68.06.
View Our Latest Report on SR
Spire Company Profile
(
Free Report)
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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