Franklin Resources Inc. Has $47.29 Million Holdings in Spire Inc. (NYSE:SR)

Franklin Resources Inc. lessened its stake in shares of Spire Inc. (NYSE:SR) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 724,596 shares of the utilities provider’s stock after selling 7,920 shares during the period. Franklin Resources Inc.’s holdings in Spire were worth $47,287,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SR. Meeder Asset Management Inc. acquired a new position in Spire during the third quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of Spire during the second quarter worth $31,000. Larson Financial Group LLC increased its holdings in Spire by 1,318.4% in the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 501 shares in the last quarter. Blue Trust Inc. raised its holdings in Spire by 26.8% in the 2nd quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock valued at $47,000 after buying an additional 161 shares during the last quarter. Finally, Missouri Trust & Investment Co raised its stake in shares of Spire by 28.6% during the third 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 last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. LADENBURG THALM/SH SH cut Spire from a “neutral” rating to a “sell” rating and decreased their price target for the company from $65.50 to $60.50 in a research note on Thursday, October 17th. Mizuho raised their price target on shares of Spire from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Stifel Nicolaus dropped their price target on Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, November 22nd. StockNews.com cut shares of Spire from a “hold” rating to a “sell” rating in a report on Friday, November 29th. Finally, Morgan Stanley cut their target price on Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.28.

Insider Buying and Selling

In related news, Director Paul D. Koonce purchased 1,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was purchased at an average cost of $73.61 per share, with a total value of $73,610.00. Following the completion of the acquisition, the director now directly owns 2,425 shares of the company’s stock, valued at approximately $178,504.25. The trade was a 70.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Treasurer Adam W. Woodard sold 1,150 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the sale, the treasurer now owns 2,587 shares in the company, valued at approximately $174,544.89. The trade was a 30.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.86% of the stock is currently owned by insiders.

Spire Price Performance

Spire stock opened at $68.31 on Wednesday. The business’s 50 day simple moving average is $67.39 and its 200 day simple moving average is $65.00. Spire Inc. has a 12 month low of $56.36 and a 12 month high of $73.64. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 3.04 and a beta of 0.57. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.24.

Spire Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 11th will be paid a dividend of $3.14 per share. This is an increase from Spire’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $12.56 annualized dividend and a dividend yield of 18.39%. Spire’s dividend payout ratio is presently 72.85%.

Spire 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.