Principal Financial Group Inc. boosted its stake in shares of Spire Inc. (NYSE:SR) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 375,709 shares of the utilities provider’s stock after buying an additional 22,533 shares during the period. Principal Financial Group Inc. owned about 0.78% of Spire worth $26,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in Spire by 1.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 236,198 shares of the utilities provider’s stock worth $15,944,000 after buying an additional 2,958 shares during the period. State of Alaska Department of Revenue raised its holdings in Spire by 87.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,522 shares of the utilities provider’s stock worth $664,000 after buying an additional 4,452 shares during the period. Citadel Advisors LLC raised its holdings in Spire by 15.4% during the 1st quarter. Citadel Advisors LLC now owns 17,953 shares of the utilities provider’s stock worth $1,212,000 after buying an additional 2,396 shares during the period. Vanguard Group Inc. raised its holdings in Spire by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,219,000 shares of the utilities provider’s stock worth $284,783,000 after buying an additional 216,388 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Spire by 22.3% during the 1st quarter. Pacer Advisors Inc. now owns 5,356 shares of the utilities provider’s stock worth $362,000 after buying an additional 975 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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Spire Inc. (SR) opened at 76.95 on Monday. Spire Inc. has a one year low of $59.54 and a one year high of $78.00. The firm has a market cap of $3.71 billion, a P/E ratio of 22.23 and a beta of 0.33. The stock has a 50 day moving average price of $75.35 and a 200-day moving average price of $70.42.

Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The company had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. Spire’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. Analysts predict that Spire Inc. will post $3.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s dividend payout ratio is currently 60.17%.

Several analysts have issued reports on SR shares. Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and set a $71.00 price objective on shares of Spire in a report on Thursday, August 3rd. Morgan Stanley boosted their price objective on Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Royal Bank Of Canada restated a “hold” rating and set a $73.00 price objective on shares of Spire in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Spire has a consensus rating of “Hold” and an average target price of $72.17.

About Spire

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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