Spire Inc. (NYSE:SR) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its holdings in Spire Inc. (NYSE:SR) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,512 shares of the utilities provider’s stock after selling 1,381 shares during the period. Magellan Asset Management Ltd owned approximately 0.07% of Spire worth $2,884,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in Spire in the fourth quarter valued at about $27,000. GAMMA Investing LLC raised its holdings in shares of Spire by 87.2% during the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after buying an additional 204 shares during the period. Lee Danner & Bass Inc. acquired a new position in Spire during the 4th quarter worth approximately $32,000. R Squared Ltd purchased a new position in Spire in the 4th quarter worth approximately $37,000. Finally, Capital Advisors Ltd. LLC grew its position in Spire by 431.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 627 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Spire Price Performance

Shares of NYSE:SR opened at $78.91 on Thursday. The firm’s 50 day moving average is $74.73 and its two-hundred day moving average is $69.85. The firm has a market capitalization of $4.60 billion, a P/E ratio of 19.11, a PEG ratio of 2.82 and a beta of 0.53. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21. Spire Inc. has a 52 week low of $57.27 and a 52 week high of $79.22.

Spire (NYSE:SR) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 EPS 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%. Analysts anticipate that Spire Inc. will post 4.5 earnings per share for the current year.

Spire Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 11th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.98%. Spire’s dividend payout ratio (DPR) is 76.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SR shares. StockNews.com cut shares of Spire from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. Guggenheim boosted their price objective on shares of Spire from $67.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday. Janney Montgomery Scott started coverage on Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. LADENBURG THALM/SH SH raised Spire to a “strong-buy” rating in a report on Monday, March 17th. Finally, Mizuho lifted their price objective on Spire from $76.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Spire has a consensus rating of “Hold” and a consensus target price of $75.64.

Spire 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.