Spire Inc. (NYSE: SR) announced its quarterly earnings results on Tuesday, reporting earnings per share (EPS) of $1.77, which surpassed analysts’ expectations of $1.53 by $0.24. This performance reflects a significant increase from the same period last year when the company reported an EPS of $1.34. The utilities provider also achieved a net margin of 10.96% and a return on equity of 8.78%, indicating solid financial health.
Revenue for the quarter rose by 13.9% year-over-year, showcasing the company’s growth trajectory. To provide further insights into its future performance, Spire updated its fiscal year 2027 guidance to an EPS range of $5.650 to $5.850, and for fiscal year 2026, it projected an EPS between $5.250 and $5.450.
Stock Performance and Dividends
Following the earnings announcement, shares of Spire opened at $85.21, reflecting a 0.9% increase. Over the past year, the stock has fluctuated between a low of $68.48 and a high of $91.11. Spire currently holds a market capitalization of $5.04 billion, with a price-to-earnings ratio of 19.37 and a PEG ratio of 1.51. The company’s debt-to-equity ratio stands at 1.07, while its current and quick ratios are 0.32 and 0.21, respectively. Additionally, the stock has a 50-day simple moving average of $83.66 and a 200-day simple moving average of $81.64.
Spire also announced a quarterly dividend of $0.825 per share, set to be paid on April 2, 2024. Shareholders on record as of March 11, 2024 will receive this dividend, which amounts to an annualized dividend of $3.30 and a yield of 3.9%. The company’s dividend payout ratio is currently 75.00%, indicating a robust commitment to returning value to shareholders.
Investor Activity and Ownership Structure
Recent trading activity has seen notable changes in Spire’s institutional ownership. A number of large investors have adjusted their positions, reflecting growing confidence in the company. For instance, Headlands Technologies LLC acquired a new stake valued at approximately $38,000 in the second quarter. Meanwhile, Northwestern Mutual Wealth Management Co. significantly increased its stake by 1,031.5%, now holding 611 shares valued at $45,000 after purchasing an additional 557 shares.
Other investors include Daiwa Securities Group Inc., which purchased a new position valued at about $48,000, and Parallel Advisors LLC, which boosted its holdings by 24.2% to now own 975 shares worth $80,000. Overall, institutional investors and hedge funds currently hold 87.36% of the stock.
Founded in 1857 as the Laclede Gas Light Company, Spire Inc. is a regulated natural gas distribution company headquartered in St. Louis, Missouri. The firm operates through three divisions: Spire Missouri, Spire Alabama, and Spire Mississippi, delivering natural gas to over 1.7 million residential, commercial, and industrial customers. Spire’s service areas encompass key markets throughout the central and southern United States, including metropolitan St. Louis, central Alabama, and central Mississippi.
This quarterly performance reinforces Spire’s position in the utilities sector and highlights its potential for future growth and stability.