Spire Inc. (SR) to Issue Quarterly Dividend of $0.76 on July 2nd

Spire Inc. (NYSE:SR) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, June 11th will be paid a dividend of 0.755 per share by the utilities provider on Tuesday, July 2nd. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Tuesday, June 11th.

Spire has raised its dividend by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 21 years. Spire has a dividend payout ratio of 65.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Spire to earn $4.56 per share next year, which means the company should continue to be able to cover its $3.02 annual dividend with an expected future payout ratio of 66.2%.

Spire Price Performance

Shares of Spire stock traded down $0.35 during trading hours on Friday, reaching $61.40. The stock had a trading volume of 361,004 shares, compared to its average volume of 320,353. The stock’s 50 day moving average is $60.01 and its 200 day moving average is $59.98. The firm has a market capitalization of $3.38 billion, a PE ratio of 16.55, a PEG ratio of 2.84 and a beta of 0.51. Spire has a twelve month low of $53.77 and a twelve month high of $69.99. The company has a current ratio of 0.55, a quick ratio of 0.43 and a debt-to-equity ratio of 1.16.

Spire (NYSE:SR) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. Spire had a net margin of 8.11% and a return on equity of 8.27%. The business had revenue of $756.60 million during the quarter, compared to the consensus estimate of $688.88 million. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year. Equities analysts expect that Spire will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph B. Hampton sold 1,294 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the sale, the insider now owns 6,768 shares of the company’s stock, valued at $393,423.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Treasurer Adam W. Woodard sold 1,229 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the transaction, the treasurer now owns 1,560 shares of the company’s stock, valued at $92,944.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph B. Hampton sold 1,294 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the transaction, the insider now directly owns 6,768 shares of the company’s stock, valued at approximately $393,423.84. The disclosure for this sale can be found here. 2.86% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price objective on shares of Spire in a report on Tuesday, April 16th. LADENBURG THALM/SH SH started coverage on shares of Spire in a research note on Friday. They issued a “neutral” rating and a $57.50 price target for the company. UBS Group started coverage on shares of Spire in a research report on Friday, April 12th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Mizuho lowered their price objective on shares of Spire from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Spire currently has a consensus rating of “Hold” and an average target price of $61.72.

About Spire

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.