KLP Kapitalforvaltning AS Makes New $1.98 Million Investment in Spire Inc. (NYSE:SR)

KLP Kapitalforvaltning AS purchased a new position in Spire Inc. (NYSE:SR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 28,900 shares of the utilities provider's stock, valued at approximately $1,979,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. raised its stake in Spire by 7.8% during the 4th quarter. Sei Investments Co. now owns 220,327 shares of the utilities provider's stock valued at $14,945,000 after purchasing an additional 15,854 shares during the period. Lee Danner & Bass Inc. acquired a new position in Spire during the fourth quarter valued at $32,000. Xponance Inc. raised its position in Spire by 4.6% during the fourth quarter. Xponance Inc. now owns 8,115 shares of the utilities provider's stock valued at $550,000 after buying an additional 355 shares during the period. Thrivent Financial for Lutherans lifted its stake in Spire by 13.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 731,682 shares of the utilities provider's stock worth $49,630,000 after acquiring an additional 85,476 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Spire by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 460,769 shares of the utilities provider's stock worth $31,254,000 after acquiring an additional 11,109 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

Analyst Upgrades and Downgrades

SR has been the subject of a number of research analyst reports. Bank of America began coverage on shares of Spire in a research report on Friday, December 13th. They issued a "neutral" rating and a $70.00 price target for the company. LADENBURG THALM/SH SH upgraded shares of Spire to a "strong-buy" rating in a research report on Monday, March 17th. Janney Montgomery Scott assumed coverage on shares of Spire in a report on Tuesday, December 17th. They set a "neutral" rating and a $73.00 price target on the stock. Guggenheim increased their price objective on Spire from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Morgan Stanley boosted their target price on Spire from $75.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $75.64.

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Spire Stock Up 0.6 %

Shares of SR traded up $0.50 during trading hours on Tuesday, hitting $78.75. 453,596 shares of the company were exchanged, compared to its average volume of 379,376. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.37 and a current ratio of 0.50. The company has a market cap of $4.59 billion, a PE ratio of 19.07, a PEG ratio of 2.82 and a beta of 0.53. The firm's 50 day moving average is $74.54 and its 200-day moving average is $69.79. Spire Inc. has a 52 week low of $57.27 and a 52 week high of $86.00.

Spire (NYSE:SR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. On average, equities research analysts forecast that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 3.99%. The ex-dividend date of this dividend is Tuesday, March 11th. Spire's dividend payout ratio is 76.03%.

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.