State of Alaska Department of Revenue Acquires 455 Shares of Spire Inc. (NYSE:SR)

State of Alaska Department of Revenue grew its holdings in shares of Spire Inc. (NYSE:SR) by 7.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,733 shares of the utilities provider’s stock after acquiring an additional 455 shares during the period. State of Alaska Department of Revenue’s holdings in Spire were worth $453,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SR. Manning & Napier Advisors LLC acquired a new stake in Spire during the 2nd quarter valued at approximately $2,233,000. Clearbridge Investments LLC acquired a new stake in shares of Spire during the first quarter worth $2,401,000. Assenagon Asset Management S.A. raised its stake in Spire by 197.4% during the second 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. Vanguard Group Inc. lifted its holdings in Spire by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,626,863 shares of the utilities provider’s stock valued at $345,321,000 after buying an additional 65,486 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Spire by 116.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider’s stock valued at $1,886,000 after acquiring an additional 15,060 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Spire Stock Performance

NYSE SR opened at $64.42 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.35 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $65.46 and a 200 day simple moving average of $63.40. Spire Inc. has a 12-month low of $56.36 and a 12-month high of $68.02. The company has a market cap of $3.72 billion, a P/E ratio of 15.49, a PEG ratio of 2.88 and a beta of 0.52.

Analysts Set New Price Targets

Several research firms have recently weighed in on SR. Wells Fargo & Company lifted their price objective on Spire from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. LADENBURG THALM/SH SH lowered Spire from a “neutral” rating to a “sell” rating and dropped their price target for the company from $65.50 to $60.50 in a research note on Thursday, October 17th. Stifel Nicolaus increased their price target on Spire from $64.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on shares of Spire from $70.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.19.

Insider Activity

In related news, VP Gerard J. Gorla sold 500 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $64.82, for a total value of $32,410.00. Following the transaction, the vice president now owns 7,311 shares of the company’s stock, valued at approximately $473,899.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.86% of the company’s stock.

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.