JPMorgan Chase & Co. Increases Stake in Spire Inc. (NYSE:SR)

JPMorgan Chase & Co. boosted its position in Spire Inc. (NYSE:SR) by 18.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 289,730 shares of the utilities provider’s stock after acquiring an additional 44,506 shares during the period. JPMorgan Chase & Co.’s holdings in Spire were worth $19,496,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of Spire in the third quarter valued at approximately $25,000. Larson Financial Group LLC grew its stake in Spire by 1,318.4% in the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after buying an additional 501 shares in the last quarter. Missouri Trust & Investment Co raised its holdings in Spire by 28.6% during the 3rd quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 200 shares during the period. Blue Trust Inc. lifted its position in shares of Spire by 38.9% during the third quarter. Blue Trust Inc. now owns 1,057 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 296 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Spire by 33.1% in the third quarter. KBC Group NV now owns 1,557 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 387 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Spire Stock Up 1.2 %

SR opened at $67.27 on Friday. The business’s fifty day simple moving average is $68.04 and its 200 day simple moving average is $65.83. Spire Inc. has a 52 week low of $56.36 and a 52 week high of $73.64. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.89 billion, a PE ratio of 15.61, a P/E/G ratio of 3.00 and a beta of 0.57.

Spire Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Wednesday, December 11th were issued a dividend of $3.14 per share. This represents a $12.56 dividend on an annualized basis and a dividend yield of 18.67%. This is a boost from Spire’s previous quarterly dividend of $0.76. The ex-dividend date was Wednesday, December 11th. Spire’s dividend payout ratio (DPR) is currently 72.85%.

Analysts Set New Price Targets

SR has been the topic of a number of analyst reports. Bank of America began coverage on Spire in a research note on Friday, December 13th. They set a “neutral” rating and a $70.00 price objective on the stock. Wells Fargo & Company upped their price target on Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Stifel Nicolaus cut their price objective on shares of Spire from $70.00 to $69.00 and set a “hold” rating for the company in a research report on Friday, November 22nd. Janney Montgomery Scott initiated coverage on shares of Spire in a research note on Tuesday, December 17th. They set a “neutral” rating and a $73.00 price objective for the company. Finally, Morgan Stanley lowered their target price on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.50.

Insider Buying and Selling

In related news, Treasurer Adam W. Woodard sold 1,150 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the completion of the sale, the treasurer now directly owns 2,587 shares in the company, valued at $174,544.89. This represents a 30.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul D. Koonce purchased 1,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was bought at an average cost of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the purchase, the director now directly owns 2,425 shares in the company, valued at approximately $178,504.25. This trade represents a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.33% of the stock is currently owned by corporate insiders.

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.