Spire Inc. (NYSE:SR – Get Free Report) announced a quarterly dividend on Thursday, July 30th. Investors of record on Friday, September 11th will be paid a dividend of 0.825 per share by the utilities provider on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, September 11th.
Spire has increased its dividend payment 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. Analysts expect Spire to earn $5.52 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 59.8%.
Spire Stock Performance
NYSE:SR opened at $80.61 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.55 and a quick ratio of 0.48. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.81 and a beta of 0.52. The firm’s fifty day moving average price is $80.78 and its 200 day moving average price is $86.04. Spire has a 1-year low of $73.41 and a 1-year high of $95.31.
Insider Transactions at Spire
In related news, Director Paul D. Koonce acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $78.46 per share, with a total value of $39,230.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at approximately $627,680. This represents a 6.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ryan L. Hyman sold 3,822 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total transaction of $307,709.22. Following the transaction, the senior vice president owned 14,295 shares in the company, valued at $1,150,890.45. The trade was a 21.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 3,000 shares of company stock worth $251,100. 2.26% of the stock is owned by insiders.
Institutional Investors Weigh In On Spire
Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in Spire in the 2nd quarter valued at approximately $742,000. Pacer Advisors Inc. boosted its position in Spire by 19.7% during the first quarter. Pacer Advisors Inc. now owns 8,453 shares of the utilities provider’s stock worth $765,000 after purchasing an additional 1,393 shares in the last quarter. Empowered Funds LLC grew its holdings in Spire by 26.7% in the first quarter. Empowered Funds LLC now owns 2,292 shares of the utilities provider’s stock valued at $208,000 after purchasing an additional 483 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Spire by 226.5% in the first quarter. Edgestream Partners L.P. now owns 125,465 shares of the utilities provider’s stock valued at $11,360,000 after purchasing an additional 87,036 shares during the last quarter. Finally, Amundi increased its position in shares of Spire by 231.1% in the first quarter. Amundi now owns 10,624 shares of the utilities provider’s stock valued at $962,000 after buying an additional 7,415 shares in the last quarter. Institutional investors and hedge funds 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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