Spire (NYSE:SR) Price Target Cut to $75.00 by Analysts at Morgan Stanley

Spire (NYSE:SR) had its target price decreased by analysts at Morgan Stanley from $77.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 3.73% from the stock’s previous close.

A number of other analysts have also issued reports on SR. Mizuho lifted their price target on Spire from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group lifted their target price on shares of Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their target price on shares of Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus lowered their price target on shares of Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday. Finally, LADENBURG THALM/SH SH downgraded shares of Spire from a “neutral” rating to a “sell” rating and cut their price objective for the company from $65.50 to $60.50 in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.06.

Spire Price Performance

Shares of Spire stock traded up $1.64 on Friday, reaching $72.30. The company’s stock had a trading volume of 133,198 shares, compared to its average volume of 413,725. Spire has a 52-week low of $56.36 and a 52-week high of $72.30. The company has a market capitalization of $4.18 billion, a P/E ratio of 17.36, a PEG ratio of 3.00 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average price of $65.74 and a 200-day moving average price of $63.76.

Institutional Trading of Spire

Several institutional investors and hedge funds have recently bought and sold shares of SR. Geode Capital Management LLC boosted its position in shares of Spire by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider’s stock worth $93,244,000 after purchasing an additional 71,798 shares during the period. Barclays PLC lifted its stake in Spire by 127.8% during the third quarter. Barclays PLC now owns 109,372 shares of the utilities provider’s stock worth $7,360,000 after purchasing an additional 61,357 shares in the last quarter. Yaupon Capital Management LP lifted its stake in Spire by 17.0% during the third quarter. Yaupon Capital Management LP now owns 132,075 shares of the utilities provider’s stock worth $8,887,000 after purchasing an additional 19,190 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Spire in the third quarter valued at $643,000. Finally, EP Wealth Advisors LLC acquired a new position in Spire during the 3rd quarter worth about $220,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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 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.