Spire Inc. (NYSE:SR) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in Spire Inc. (NYSE:SR - Free Report) by 51.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,356 shares of the utilities provider's stock after buying an additional 13,004 shares during the period. Martingale Asset Management L P owned about 0.07% of Spire worth $2,581,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Spire by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,611 shares of the utilities provider's stock worth $12,624,000 after buying an additional 5,899 shares during the last quarter. MetLife Investment Management LLC increased its stake in Spire by 0.9% during the third quarter. MetLife Investment Management LLC now owns 61,067 shares of the utilities provider's stock valued at $4,109,000 after purchasing an additional 519 shares during the last quarter. Cynosure Group LLC bought a new stake in Spire during the third quarter valued at $4,067,000. BNP Paribas Financial Markets raised its holdings in shares of Spire by 18.8% during the third quarter. BNP Paribas Financial Markets now owns 16,034 shares of the utilities provider's stock worth $1,079,000 after purchasing an additional 2,542 shares during the period. Finally, FMR LLC lifted its position in shares of Spire by 10.0% in the 3rd quarter. FMR LLC now owns 5,547 shares of the utilities provider's stock worth $373,000 after buying an additional 502 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Spire Stock Performance

Spire stock traded up $0.08 during mid-day trading on Friday, hitting $73.19. 140,414 shares of the company's stock traded hands, compared to its average volume of 362,627. Spire Inc. has a one year low of $56.36 and a one year high of $73.64. The company has a market cap of $4.23 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 3.24 and a beta of 0.52. The firm has a 50 day moving average price of $66.49 and a 200 day moving average price of $64.25. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be issued a $3.14 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $12.56 annualized dividend and a yield of 17.16%. This is an increase from Spire's previous quarterly dividend of $0.76. Spire's dividend payout ratio is presently 70.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SR shares. UBS Group increased their price objective on shares of Spire from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Mizuho upped their target price on Spire from $62.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Wells Fargo & Company raised their price target on Spire from $73.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, November 21st. Stifel Nicolaus reduced their price objective on Spire from $70.00 to $69.00 and set a "hold" rating for the company in a research report on Friday, November 22nd. Finally, StockNews.com lowered Spire from a "hold" rating to a "sell" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Spire has a consensus rating of "Hold" and an average price target of $69.93.

About Spire

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.