Spire Inc. (NYSE: SR) announced its quarterly earnings results on March 11, 2024, revealing a significant increase in earnings per share (EPS). The utilities provider reported an EPS of $1.77, surpassing analysts’ expectations of $1.53 by $0.24, according to Briefing.com. This positive performance marks a notable year-over-year increase from the $1.34 EPS reported during the same quarter last year.
The company achieved a net margin of 10.96% and a return on equity of 8.78%. Spire’s revenue rose by 13.9% compared to the previous year, indicating robust growth in its operations. In light of these results, Spire updated its fiscal year 2027 guidance to an EPS range of $5.650 to $5.850, while also adjusting its fiscal year 2026 guidance to $5.250 to $5.450.
Market Performance and Dividend Announcement
Following the earnings announcement, shares of Spire opened at $85.21, reflecting a 0.9% increase. The stock has fluctuated within a year, recording a low of $68.48 and a high of $91.11. Spire 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 ratio is 0.32 and quick ratio is 0.21. 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 declared a quarterly dividend of $0.825 per share, scheduled for payment on April 2, 2024. Shareholders of record as of March 11, 2024, will receive this dividend, which translates to an annualized dividend of $3.30 and a dividend yield of 3.9%. The ex-dividend date is set for March 11, 2024, and Spire’s current dividend payout ratio is 75.00%.
Investor Activity and Company Background
Recent activity shows that several large investors have adjusted their positions in Spire. Headlands Technologies LLC acquired a new stake valued at approximately $38,000 in the second quarter. Northwestern Mutual Wealth Management Co. increased its stake by 1,031.5%, now owning 611 shares valued at $45,000 after purchasing an additional 557 shares. Other notable transactions 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% in the third quarter.
Currently, institutional investors and hedge funds own 87.36% of Spire’s stock, reflecting strong institutional confidence in the company’s stability and growth potential.
Founded in 1857 as the Laclede Gas Light Company, Spire Inc. is a regulated natural gas distribution company headquartered in St. Louis, Missouri. It 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 has expanded significantly through strategic acquisitions, including Alabama Gas Corporation in 2013 and Mississippi Gas in 2016, solidifying its presence in key markets across the central and southern United States.
