Spire Inc. (NYSE:SR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Spire Inc. (NYSE:SR - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 674,538 shares of the utilities provider's stock after selling 50,058 shares during the quarter. Franklin Resources Inc. owned about 1.16% of Spire worth $45,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new stake in Spire in the 4th quarter worth about $27,000. GAMMA Investing LLC lifted its stake in shares of Spire by 87.2% during the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider's stock worth $30,000 after acquiring an additional 204 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in Spire during the 4th quarter valued at $32,000. R Squared Ltd purchased a new stake in Spire in the fourth quarter worth $37,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Spire by 431.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 627 shares of the utilities provider's stock worth $43,000 after purchasing an additional 509 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SR. StockNews.com upgraded Spire from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. LADENBURG THALM/SH SH raised shares of Spire to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America assumed coverage on Spire in a research note on Friday, December 13th. They set a "neutral" rating and a $70.00 price target on the stock. Morgan Stanley lifted their price target on Spire from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, Mizuho boosted their target price on shares of Spire from $76.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $75.64.

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Spire Price Performance

Shares of NYSE:SR traded down $0.88 during midday trading on Thursday, reaching $73.68. 48,554 shares of the company's stock traded hands, compared to its average volume of 385,867. 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 fifty day simple moving average of $75.38 and a two-hundred day simple moving average of $70.23. The company has a market cap of $4.30 billion, a P/E ratio of 17.89, a PEG ratio of 2.82 and a beta of 0.56. Spire Inc. has a 1 year low of $57.27 and a 1 year high of $79.81.

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

Spire Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 11th were issued a $0.785 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.14 annualized dividend and a dividend yield of 4.26%. Spire's dividend payout ratio is presently 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.