Magellan Asset Management Ltd Grows Stake in Spire Inc. (SR)

Magellan Asset Management Ltd lifted its stake in shares of Spire Inc. (NYSE:SR) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,310 shares of the utilities provider’s stock after acquiring an additional 4,044 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of Spire worth $2,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SR. Great West Life Assurance Co. Can boosted its stake in shares of Spire by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 63,539 shares of the utilities provider’s stock worth $4,285,000 after acquiring an additional 3,891 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Spire by 5.9% during the 1st quarter. Advisors Asset Management Inc. now owns 7,156 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 398 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Spire by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 764,860 shares of the utilities provider’s stock worth $51,628,000 after acquiring an additional 32,048 shares in the last quarter. Swiss National Bank boosted its stake in shares of Spire by 0.9% during the 1st quarter. Swiss National Bank now owns 75,250 shares of the utilities provider’s stock worth $5,079,000 after acquiring an additional 700 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Spire by 65.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 37,182 shares of the utilities provider’s stock worth $2,510,000 after acquiring an additional 14,738 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued a “hold” rating and set a $73.00 price objective on shares of Spire in a research note on Wednesday, August 9th. Morgan Stanley raised their price objective on Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered Spire from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $71.00 price objective on shares of Spire in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Spire presently has a consensus rating of “Hold” and an average price target of $72.17.

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Shares of Spire Inc. (NYSE:SR) traded up 0.40% during mid-day trading on Friday, hitting $75.80. The stock had a trading volume of 464,172 shares. Spire Inc. has a 12-month low of $59.54 and a 12-month high of $78.00. The stock’s 50-day moving average price is $75.86 and its 200-day moving average price is $70.80. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 21.90 and a beta of 0.33.

Spire (NYSE:SR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities analysts anticipate that Spire Inc. will post $3.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, September 8th. Spire’s dividend payout ratio (DPR) is 60.17%.

Spire Profile

Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.

Institutional Ownership by Quarter for Spire (NYSE:SR)

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