Paul D. Koonce, a director at Spire Inc. (NYSE:SR), recently purchased 1,000 shares of the company's common stock. The transaction, which took place on December 2, 2024, was executed at a price of $73.61 per share, totaling approximately $73,610. The purchase comes as Spire trades near its 52-week high of $73.64, with the stock showing strong momentum, up about 21% over the past six months. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. Following this acquisition, Koonce holds a total of 2,425 shares in a revocable trust, with an additional 2,150 shares owned directly and 5,000 shares held in an IRA. This move reflects Koonce's continued investment in the natural gas distribution company, headquartered in St. Louis, Missouri. The $4.2 billion market cap utility company boasts an impressive track record of 21 consecutive years of dividend increases, currently offering a 4.3% yield. For deeper insights into insider trading patterns and additional ProTips, visit InvestingPro, where a comprehensive research report is available.
In other recent news, Spire Inc. has filed a request with the Missouri Public Service Commission for a proposed base rate increase for its natural gas services. The proposed net increase amounts to $235.9 million, intended to cover the costs of system investments and operating expenses necessary for safety, reliability, and improved customer service. The company also seeks to harmonize tariffs across its service areas.
In financial developments, Spire's fourth quarter earnings surpassed estimates. The company reported an adjusted loss of $0.54 per share for the quarter, an improvement from a $0.78 per share loss in the same period the previous year. However, revenue decreased by 5.3% year-over-year to $293.8 million.
For fiscal year 2024, Spire reported adjusted earnings of $4.13 per share, an increase from $4.05 per share in fiscal 2023. Looking ahead, the company issued fiscal 2025 adjusted EPS guidance of $4.40 to $4.60, notably higher than the current analyst consensus of $4.38. These developments reflect a positive operational performance across Spire's key business segments.
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