SteelPeak Wealth LLC Sells 224 Shares of Spire Inc. $SR

SteelPeak Wealth LLC cut its stake in shares of Spire Inc. (NYSE:SR) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,040 shares of the utilities provider’s stock after selling 224 shares during the quarter. SteelPeak Wealth LLC’s holdings in Spire were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC bought a new position in shares of Spire during the second quarter valued at $2,168,000. 111 Capital bought a new position in shares of Spire during the second quarter valued at $211,000. Hennessy Advisors Inc. increased its holdings in shares of Spire by 2.5% during the second quarter. Hennessy Advisors Inc. now owns 62,241 shares of the utilities provider’s stock valued at $4,543,000 after acquiring an additional 1,500 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Spire by 9.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 974,127 shares of the utilities provider’s stock valued at $71,102,000 after acquiring an additional 80,965 shares in the last quarter. Finally, Cardinal Capital Management increased its holdings in shares of Spire by 1.9% during the second quarter. Cardinal Capital Management now owns 40,713 shares of the utilities provider’s stock valued at $3,003,000 after acquiring an additional 756 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

Spire Trading Down 0.5%

Shares of NYSE:SR opened at $83.12 on Friday. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.43 and a beta of 0.69. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.27 and a current ratio of 0.37. The stock’s 50-day simple moving average is $77.39 and its two-hundred day simple moving average is $75.85. Spire Inc. has a 52-week low of $61.56 and a 52-week high of $83.95.

Spire (NYSE:SR) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. The business had revenue of $421.90 million for the quarter, compared to analysts’ expectations of $417.27 million. Spire had a return on equity of 8.66% and a net margin of 11.56%.The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted ($0.14) earnings per share. Spire has set its FY 2025 guidance at 4.400-4.60 EPS. Analysts expect that Spire Inc. will post 4.5 EPS for the current year.

Spire Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 11th. Spire’s payout ratio is presently 67.82%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SR shares. Jefferies Financial Group upgraded Spire to a “strong-buy” rating in a report on Tuesday. Bank of America reiterated an “underperform” rating and issued a $76.00 price objective (down from $81.00) on shares of Spire in a report on Friday, August 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Spire in a report on Wednesday. Morgan Stanley reduced their price objective on Spire from $81.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Finally, Stifel Nicolaus set a $81.00 price objective on Spire and gave the stock a “hold” rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

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.