Spire Inc. (NYSE:SR – Get Free Report) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Thursday, June 11th will be paid a dividend of 0.825 per share by the utilities provider on Thursday, July 2nd. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, June 11th.
Spire has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 22 years. Spire has a dividend payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Spire to earn $5.53 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 59.7%.
Spire Trading Down 2.3%
Shares of SR opened at $80.46 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.69. The firm’s 50-day moving average is $88.39 and its two-hundred day moving average is $87.10. Spire has a twelve month low of $71.24 and a twelve month high of $95.31. The firm has a market capitalization of $4.76 billion, a P/E ratio of 14.14, a PEG ratio of 1.84 and a beta of 0.52.
Insider Activity
In other Spire news, Director Paul D. Koonce purchased 500 shares of Spire stock in a transaction on Monday, June 1st. The shares were bought at an average price of $80.50 per share, with a total value of $40,250.00. Following the completion of the acquisition, the director directly owned 7,500 shares of the company’s stock, valued at approximately $603,750. This trade represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.26% of the stock is owned by company insiders.
Hedge Funds Weigh In On Spire
Several institutional investors and hedge funds have recently modified their holdings of the company. Edgestream Partners L.P. boosted its position in Spire by 226.5% during the first quarter. Edgestream Partners L.P. now owns 125,465 shares of the utilities provider’s stock worth $11,360,000 after acquiring an additional 87,036 shares during the last quarter. Amundi grew its stake in Spire by 231.1% in the 1st quarter. Amundi now owns 10,624 shares of the utilities provider’s stock worth $962,000 after acquiring an additional 7,415 shares during the period. EverSource Wealth Advisors LLC grew its stake in Spire by 51.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,692 shares of the utilities provider’s stock worth $244,000 after acquiring an additional 917 shares during the period. California State Teachers Retirement System grew its stake in Spire by 20.1% in the 1st quarter. California State Teachers Retirement System now owns 66,491 shares of the utilities provider’s stock worth $6,020,000 after acquiring an additional 11,120 shares during the period. Finally, Royal Bank of Canada grew its stake in Spire by 1.2% in the 1st quarter. Royal Bank of Canada now owns 16,282 shares of the utilities provider’s stock worth $1,475,000 after acquiring an additional 193 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.
About Spire
Spire Inc (NYSE: SR), formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire’s service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.
Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.
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