Spire Inc (NYSE:SR) Short Interest Update
Spire Inc (NYSE:SR) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 454,100 shares, a decline of 20.3% from the June 15th total of 569,600 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 307,300 shares, the short-interest ratio is currently 1.5 days.
Several equities research analysts recently issued reports on SR shares. Cfra reduced their target price on shares of Spire from $84.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Guggenheim upgraded shares of Spire from a “sell” rating to a “neutral” rating in a research note on Monday, March 16th. Morgan Stanley cut their price objective on Spire from $70.00 to $67.00 and set an “underweight” rating for the company in a research report on Wednesday, June 17th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $78.00 target price on shares of Spire in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised Spire from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $82.00 to $69.00 in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $77.80.
SR stock traded down $0.72 during midday trading on Tuesday, reaching $66.35. 416,972 shares of the company traded hands, compared to its average volume of 306,952. Spire has a 52-week low of $57.37 and a 52-week high of $88.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.51 and a current ratio of 0.62. The business has a 50 day moving average of $69.40 and a 200-day moving average of $76.09. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 3.84 and a beta of 0.17.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.6225 dividend. This represents a $2.49 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Wednesday, June 10th. Spire’s dividend payout ratio is currently 66.76%.
Several hedge funds have recently added to or reduced their stakes in SR. Cornerstone Wealth Management LLC grew its holdings in Spire by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,355 shares of the utilities provider’s stock valued at $529,000 after purchasing an additional 129 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Spire by 1.3% during the first quarter. Commonwealth Equity Services LLC now owns 11,168 shares of the utilities provider’s stock valued at $831,000 after buying an additional 147 shares during the period. Profund Advisors LLC grew its stake in shares of Spire by 1.9% during the fourth quarter. Profund Advisors LLC now owns 8,323 shares of the utilities provider’s stock valued at $693,000 after buying an additional 156 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Spire by 7.7% in the first quarter. HighTower Advisors LLC now owns 2,911 shares of the utilities provider’s stock worth $216,000 after buying an additional 208 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Spire by 2.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,318 shares of the utilities provider’s stock worth $768,000 after acquiring an additional 252 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.
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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