Spire Inc (SR) Stake Boosted by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA increased its holdings in shares of Spire Inc (NYSE:SR) by 23.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,571 shares of the utilities provider’s stock after purchasing an additional 4,472 shares during the period. BNP Paribas Arbitrage SA’s holdings in Spire were worth $1,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Spire by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 736,470 shares of the utilities provider’s stock valued at $54,167,000 after buying an additional 26,597 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Spire by 2.3% in the 3rd quarter. Martingale Asset Management L P now owns 84,412 shares of the utilities provider’s stock worth $6,209,000 after acquiring an additional 1,901 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Spire in the 3rd quarter worth approximately $270,000. Teachers Advisors LLC lifted its holdings in shares of Spire by 9.5% in the 3rd quarter. Teachers Advisors LLC now owns 102,119 shares of the utilities provider’s stock worth $7,511,000 after acquiring an additional 8,899 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Spire by 1.2% in the 3rd quarter. Morgan Stanley now owns 373,551 shares of the utilities provider’s stock worth $27,475,000 after acquiring an additional 4,313 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Several equities analysts have recently commented on the stock. Wells Fargo & Co upped their price objective on shares of Spire from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Zacks Investment Research lowered shares of Spire from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Credit Suisse Group set a $75.00 price objective on shares of Spire and gave the stock a “sell” rating in a report on Monday, April 22nd. Finally, Guggenheim lowered shares of Spire from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $79.00.

Spire stock opened at $85.32 on Tuesday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 6.83 and a beta of 0.23. Spire Inc has a 52-week low of $64.95 and a 52-week high of $86.76. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.85.

Spire (NYSE:SR) last released its earnings results on Wednesday, May 1st. The utilities provider reported $2.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.63 by $0.27. The company had revenue of $803.50 million for the quarter, compared to analyst estimates of $795.74 million. Spire had a net margin of 11.12% and a return on equity of 8.05%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.83 EPS. Equities analysts expect that Spire Inc will post 3.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.37 dividend on an annualized basis and a yield of 2.78%. Spire’s dividend payout ratio (DPR) is presently 63.71%.

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Spire Company Profile

Spire Inc, through 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 two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.

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Institutional Ownership by Quarter for Spire (NYSE:SR)

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