Cynosure Group LLC Takes Position in Spire Inc. (NYSE:SR)

Cynosure Group LLC bought a new position in Spire Inc. (NYSE:SR) in the third quarter, according to its most recent filing with the SEC. The firm bought 60,436 shares of the utilities provider’s stock, valued at approximately $4,067,000. Cynosure Group LLC owned approximately 0.10% of Spire as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Manning & Napier Advisors LLC acquired a new position in shares of Spire in the second quarter valued at about $2,233,000. Janney Montgomery Scott LLC acquired a new position in Spire in the 3rd quarter worth approximately $787,000. Assenagon Asset Management S.A. raised its position in Spire by 197.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 162,195 shares of the utilities provider’s stock worth $9,850,000 after buying an additional 107,662 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Spire by 116.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider’s stock worth $1,886,000 after buying an additional 15,060 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Spire by 12.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 288,339 shares of the utilities provider’s stock valued at $17,511,000 after acquiring an additional 31,923 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Spire Stock Down 1.1 %

Shares of SR opened at $72.60 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.24. The firm has a market cap of $4.19 billion, a P/E ratio of 16.84, a PEG ratio of 3.25 and a beta of 0.52. The stock’s 50 day moving average is $66.11 and its two-hundred day moving average is $64.03. Spire Inc. has a 12 month low of $56.36 and a 12 month high of $73.52.

Spire Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be issued a $3.14 dividend. This represents a $12.56 annualized dividend and a yield of 17.30%. The ex-dividend date is Wednesday, December 11th. This is a positive change from Spire’s previous quarterly dividend of $0.76. Spire’s payout ratio is presently 70.07%.

Analyst Ratings Changes

Several brokerages recently issued reports on SR. Mizuho raised their target price on shares of Spire from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their price target on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. UBS Group boosted their price objective on Spire from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com lowered Spire from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus decreased their price target on Spire from $70.00 to $69.00 and set a “hold” rating for the company in a report on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Spire presently has a consensus rating of “Hold” and a consensus price target of $68.06.

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.