California Public Employees’ Retirement System reported Spire Inc. (NYSE:SR – RECEIVE Rating) shares to 1.2%, according to its most recent 13F filing with the SEC. The fund held 115,418 shares of the utility provider’s stock after purchasing an additional 1,367 shares during the period. California Public Employees’ Retirement System’s holdings in Spire were $8,584,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in Spire shares to 40.9% in the second quarter. After buying an additional 71,675 shares in the last quarter, Principal Financial Group Inc. Now owns 246,714 shares of the utility provider’s stock valued at $18,348,000. Turtle Index Solutions LLC increased its stake in Spire shares by 2.5% in the second quarter. Turtle Index Solutions LLC now owns 117,720 shares of the utility provider’s stock valued at $8,755,000 after buying an additional 2,854 shares in the last quarter. Pictet Asset Management SA increased its stake in Spire shares to 510.1% in the second quarter. Pictet Asset Management SA now owns 21,329 shares of the utility provider’s stock valued at $1,586,000 after buying an additional 17,833 shares in the last quarter. Duality Advisors LP purchased a new position in shares of Spire valued at approximately $875,000 in the second quarter. Finally, Baird Financial Group Inc. raised its stake in Spire shares by 5.4% in the second quarter. Baird Financial Group Inc., after buying an additional 2,062 shares in the last quarter. Now owns 40,275 shares of the utility provider’s stock valued at $2,995,000. Hedge funds and other institutional investors hold 95.64% of the company’s stock.
Wall Street analysts forecast growth
Several equity research analysts recently issued reports on the company. Wells Fargo & Company cut its price objective on Spire from $78.00 to $71.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19. StockNews.com upgraded Spire from a “Sell” rating to a “Hold” rating in a report on Thursday, November 17. Royal Bank of Canada raised its price objective on Spire from $69.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday. Mizuho reduced its price objective on Spire from $77.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, November 18. Finally, TheStreet cut Spire from a “B-” rating to a “C+” rating in a report on Monday, September 26. One analyst has Sell rating on the stock, seven have Hold rating and one has Buy rating on the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.14, based on data from MarketBeat.com.
peak trade up 1.2%
Shares of Spire stock opened at $73.29 on Wednesday. The stock has a market cap of $3.85 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.23, and a beta of 0.39. The stock’s 50-day simple moving average is $67.27 and its 200-day simple moving average is $71.45. Spire Inc. The 1-Year Low is $59.60 and the 1-Year High is $79.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.68, and a quick ratio of 0.50.
Spire Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record will be issued a dividend of $0.14 per share on Monday, December 12. This represents an annual dividend of $0.56 and a dividend yield of 0.76%. The ex-dividend date is Friday, December 9th. Spire’s dividend payout ratio currently stands at 68.84%.
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 two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.
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