KLP Kapitalforvaltning AS Makes New $1.98 Million Investment in Spire Inc. (NYSE:SR)

KLP Kapitalforvaltning AS purchased a new stake in Spire Inc. (NYSE:SR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,900 shares of the utilities provider’s stock, valued at approximately $1,979,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Spire by 87.2% in the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 204 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Spire by 11.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,308 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 241 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Spire by 8.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,406 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 271 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Spire by 26.5% during the 4th quarter. Blue Trust Inc. now owns 1,337 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC increased its holdings in Spire by 7.1% during the fourth quarter. MBM Wealth Consultants LLC now owns 4,444 shares of the utilities provider’s stock worth $304,000 after buying an additional 295 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Spire Stock Performance

NYSE:SR opened at $77.45 on Friday. The stock has a 50 day simple moving average of $74.07 and a 200 day simple moving average of $69.47. The stock has a market cap of $4.52 billion, a P/E ratio of 18.75, a PEG ratio of 2.82 and a beta of 0.53. Spire Inc. has a 1-year low of $57.27 and a 1-year high of $78.83. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SR) last posted its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. Research analysts anticipate that Spire Inc. will post 4.5 earnings per share for the current year.

Spire Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.785 per share. The ex-dividend date is Tuesday, March 11th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.05%. Spire’s payout ratio is presently 76.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Janney Montgomery Scott assumed coverage on shares of Spire in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price objective for the company. Bank of America initiated coverage on Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley raised their price objective on Spire from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Mizuho boosted their target price on Spire from $76.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Finally, LADENBURG THALM/SH SH upgraded Spire to a “strong-buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Spire presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Spire Company Profile

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.