JPMorgan Chase & Co. Increases Shares in Spire Inc.

JPMorgan Chase & Co. has boosted its investment in Spire Inc. (NYSE:SR) by 18.1% during the third quarter, as revealed in a recent 13F filing with the SEC. This move increased their total holdings to 289,730 shares, following the purchase of an additional 44,506 shares in the respective period. As per the latest filing, JPMorgan Chase & Co. represents approximately 0.50% of Spire, with the total worth being $19,496,000.

Moreover, several other institutional investors and hedge funds have also made adjustments to their positions in Spire Inc. Oddo BHF Asset Management Sas added a new stake valued around $994,000 during the third quarter. Sanctuary Advisors LLC similarly acquired a new interest in Spire amounting to about $575,000. In a notable increase, Geode Capital Management LLC raised its holdings by 5.5%, now owning 1,385,452 shares of Spire, which is valued at $93,244,000 after buying 71,798 additional shares last quarter. Barclays PLC's stake in Spire saw a significant increase of 127.8% in the third quarter as well, bringing their total to 109,372 shares worth $7,360,000 after purchasing 61,357 additional shares. Finally, Yaupon Capital Management LP also raised its stake in Spire by 17.0% in the third quarter.

Wall Street Analyst Insights

Analysts have expressed varied opinions regarding Spire's stock performance. Mizuho upgraded Spire from a "neutral" to an "outperform" rating, raising their target price from $65.00 to $76.00. Wells Fargo & Company also increased their price target from $73.00 to $75.00, categorizing it with an "equal weight" rating. Conversely, Stifel Nicolaus adjusted their target down to $69.00 with a "hold" recommendation. Bank of America commenced coverage on Spire with a "neutral" rating and a target price of $70.00. In contrast, StockNews.com downgraded the stock from a "hold" to a "sell" rating. Presently, Spire holds a consensus rating of "Hold" with a target price of $71.50, as per data from MarketBeat.

Spire's Stock Performance

On Friday, NYSE:SR opened at $67.27. The company's quick ratio stands at 0.30, while its current ratio is 0.45, indicating potential liquidity challenges. Spire showcases a debt-to-equity ratio of 1.24. Over the year, the stock has fluctuated between a low of $56.36 and a high of $73.64. Its fifty-day moving average is $68.04, whereas the two-hundred day moving average is $65.83, with Spire holding a market capitalization of $3.89 billion. The stock's P/E ratio stands at 15.61, and it has a P/E/G ratio of 3.00 with a beta of 0.57.

Dividend Announcement by Spire

Recently, Spire disclosed a quarterly dividend that was paid on January 3rd. Shareholders registered on December 11th received a dividend of $3.14 per share, marking a notable increase from the previous quarterly dividend of $0.76. This indicates an annualized dividend of $12.56 with a substantial yield of 18.67%. Presently, Spire’s dividend payout ratio sits at 72.85%.

Corporate Insider Transactions at Spire

In other corporate activities, Spire’s Director, Paul D. Koonce, purchased 1,000 shares on December 2nd. The average purchase price was $73.61 per share, amounting to a total of $73,610. Following this, the director now holds 2,425 shares in Spire, valued at $178,504.25. This acquisition reflects a significant 70.18% escalated position in his holdings. Conversely, Treasurer Adam W. Woodard sold 1,150 shares on December 13th, priced at an average of $67.47, totaling $77,590.50 for the transaction. After this sale, the treasurer’s direct holding is 2,587 shares valued at $174,544.89, indicating a 30.77% decrease in his ownership. Together, insiders own about 2.33% of Spire’s stock.

Overview of Spire

Spire Inc. operates across the United States through its subsidiaries, focusing on the purchase, retail distribution, and sale of natural gas to various user categories like residential, commercial, and industrial sectors. The company classifies its operations into three segments: Gas Utility, Gas Marketing, and Midstream. Additionally, it engages in marketing natural gas and related services, as well as in the transportation and storage of natural gas.

JPMorgan, Spire, Investment