Investment management firm ProShare Advisors LLC has reduced its stake in Spire Inc. (NYSE:SR) by 1.8% during the first quarter of this year, according to the company’s recent filing with the Securities and Exchange Commission (SEC). The firm now owns 628,107 shares of Spire’s stock, having sold 11,670 shares during the quarter. This represents approximately 1.19% of Spire’s total value, which amounts to $44,055,000 as per the most recent SEC filing.
Spire is a utilities provider that is publicly listed on the New York Stock Exchange under the emblem SR. It recently released its quarterly earnings data on August 2nd. During this time, the company reported earning per share (EPS) of ($0.42) for the quarter, which fell short of analyst expectations by ($0.40).
The revenue generated by Spire for this period was $418.50 million, slightly lower than projected estimates of $428.86 million in revenue. Comparing it to the same quarter from last year, Spire experienced a decrease in revenue by 6.6%. However, it is important to note that during this same period last year, Spire earned EPS of $0.01.
Despite this decrease in revenue and missing earnings estimates for the quarter, analysts remain optimistic about Spire’s future performance in terms of EPS growth for fiscal year 2023. On average, they expect Spire Inc. to post an EPS of 4.18 for the current fiscal year.
Investors and market observers will be closely watching how ProShare Advisors LLC’s decision to lessen its stake in Spire Inc., as well as other factors such as industry trends and shifts in consumer demand for utilities services impact Spire’s future financial performance and valuation.
As always, investors are advised to conduct their own research and analysis before making any investment decisions based on the information provided.
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Changes in Investor Landscape and Analyst Reports for Spire: What Does the Future Hold?
Investors in the stock of Spire, a utilities provider, have been making significant changes to their positions recently. American Century Companies Inc., for example, increased its holdings in shares of Spire by 6.0% in the fourth quarter. As a result, American Century now owns 7,642,947 shares of the company’s stock valued at $526,293,000. Similarly, BlackRock Inc. lifted its holdings in Spire by 2.0% during the first quarter and now possesses 6,755,246 shares with a value of $473,813,000.
Vanguard Group Inc., another major investor in Spire, also made changes to its position during the third quarter. With an increase of 2.6%, Vanguard now holds 5,411,808 shares valued at $337,318,000. Meanwhile, Moneta Group Investment Advisors LLC experienced an astounding increase of 70,596.2% in its holdings during the fourth quarter and currently owns 4,264,392 shares worth $293,,646 ,000.
Lastly but not leastly State Street Corp raised its position by 2.6% during the third quarter and currently has 2,350,,580 shà res stimated at a staggering $148,,082 ,000.
It is worthy to note that institutional investors and hedge funds own approximately 87.36% of the company’s stock.
On September 14th , Spire (NYSE:SR) opened at $60.36 but it is noteworthy that it has been experiencing some fluctuation recently with its 50-day simple moving average recorded at $61..04 also with a low-end trade sitting at and even though is no way near it’s high all time value those numbers could give us hope for what can be next movement as its 200-day simple moving average stood at an impressive $65.,28 which is somewhat far from its high all time value $75..83..
With a market capitalization of $3.18 billion, Spire Inc. stands as a significant player in the utilities provider industry. The company currently has a price-to-earnings (P/E) ratio of 14.00 and a price-to-earnings-growth (PEG) ratio of 3.37, indicating a relatively attractive valuation for investors. Additionally, Spire has a beta of 0.49.
When considering the financial health of Spire, it is worth noting that the company has a quick ratio of 0.40 and a current ratio of 0.56. However, it does have a debt-to-equity ratio of 1.32, which could raise concerns for some investors.
As for dividends, Spire recently declared a quarterly dividend to be paid on October 3rd to shareholders who were recorded on September 11th. This dividend amounts to $0.72 per share, representing an annualized dividend of $2.88 and yielding at 4 .77%. The ex-dividend date was set for September 8th.
Analysts from various brokerages have offered their reports on Spire’s stock performance as well. Royal Bank of Canada, for instance, lowered its price target from $67..00 to $66..00 but maintained its “sector perform” rating on the company in their report published on September ,6th . In addition, TheStreet downgraded Spire from a “b” rating to a “c+” rating in their report released on August ,2nd while Guggenheim reduces the price target from $69..00 to $65..00 inits .report shared nga te30 ebann ruJylacthAnot meMorgan Stanley was also less optimistic about Spire’s future when it lowered its price objective from$73..00 to $70..00 and assigned an “equal weight” rating on the stock on August, 23rd. Lastly, in a report released on August 17th,V In their report from August 17th, StockNews.com also expressed concerns about Spire’s performance and rated the stock as “sell”.
Overall, the consensus among analysts regarding Spire’s stock is that of a “Hold” with an average price target of $67.25, according to data from Bloomberg.com.
In conclusion, it is clear that significant changes have been occurring in the investor landscape for Spire. With institutional investors and hedge funds owning a large portion of the company’s stock and several brokerage reports expressing concern or caution regarding its performance, it will be interesting to see how these factors play out in the future. Investors should carefully consider these dynamics when making decisions about Spire’s stock.
