Spire Inc. (NYSE:SR – Get Free Report) has received an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $63.88.
SR has been the topic of a number of research analyst reports. Mizuho raised Spire from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $71.00 to $66.00 in a report on Friday, September 29th. Stifel Nicolaus reduced their target price on Spire from $67.00 to $64.00 and set a “hold” rating on the stock in a report on Monday. Morgan Stanley reduced their target price on Spire from $72.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 25th. StockNews.com upgraded Spire to a “sell” rating in a research report on Friday. Finally, Guggenheim dropped their price target on Spire from $65.00 to $55.00 in a research report on Monday, October 9th.
Insider Buying and Selling at Spire
Institutional Trading of Spire
Hedge funds and other institutional investors have recently modified their holdings of the business. Duality Advisers LP purchased a new stake in shares of Spire during the first quarter worth $270,000. Dean Investment Associates LLC raised its holdings in shares of Spire by 17.5% during the second quarter. Dean Investment Associates LLC now owns 60,824 shares of the utilities provider’s stock worth $3,859,000 after acquiring an additional 9,054 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Spire by 60.0% during the second quarter. Janney Montgomery Scott LLC now owns 10,129 shares of the utilities provider’s stock valued at $643,000 after buying an additional 3,800 shares in the last quarter. Barclays PLC raised its holdings in Spire by 78.9% during the second quarter. Barclays PLC now owns 87,868 shares of the utilities provider’s stock valued at $5,573,000 after buying an additional 38,765 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new position in Spire during the second quarter valued at about $401,000. Institutional investors and hedge funds own 87.36% of the company’s stock.
Spire Price Performance
Shares of NYSE SR opened at $60.95 on Thursday. Spire has a 1-year low of $53.77 and a 1-year high of $75.83. The business has a 50-day moving average of $57.83 and a 200-day moving average of $61.34. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.61 and a quick ratio of 0.40. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.44 and a beta of 0.50.
Spire (NYSE:SR – Get Free Report) last issued its quarterly earnings results on Thursday, November 16th. The utilities provider reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.14). The business had revenue of $310.40 million during the quarter, compared to analysts’ expectations of $337.48 million. Spire had a net margin of 8.16% and a return on equity of 8.50%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.66) EPS. On average, equities analysts anticipate that Spire will post 4.28 EPS for the current fiscal year.
Spire Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.755 per share. This is a positive change from Spire’s previous quarterly dividend of $0.72. This represents a $3.02 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Friday, December 8th. Spire’s dividend payout ratio (DPR) is presently 74.81%.
Spire Company 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 two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.
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