StockNews.com Upgrades Spire (NYSE:SR) to Hold

Spire (NYSE:SR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other research firms have also recently weighed in on SR. Morgan Stanley cut their price objective on Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Mizuho raised shares of Spire from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $65.00 to $76.00 in a research report on Friday, December 20th. Bank of America initiated coverage on shares of Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 target price for the company. UBS Group lifted their price target on shares of Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Janney Montgomery Scott initiated coverage on Spire in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Spire currently has an average rating of “Hold” and a consensus target price of $71.50.

Spire Price Performance

Spire stock opened at $67.11 on Tuesday. Spire has a 52 week low of $56.36 and a 52 week high of $73.64. The company’s 50 day moving average price is $67.52 and its two-hundred day moving average price is $65.19. The stock has a market cap of $3.88 billion, a P/E ratio of 15.57, a P/E/G ratio of 3.00 and a beta of 0.57. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Insider Activity at Spire

In related news, Treasurer Adam W. Woodard sold 1,150 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the sale, the treasurer now directly owns 2,587 shares of the company’s stock, valued at $174,544.89. This trade represents a 30.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul D. Koonce purchased 1,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was bought at an average cost of $73.61 per share, with a total value of $73,610.00. Following the purchase, the director now owns 2,425 shares in the company, valued at approximately $178,504.25. This represents a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.33% of the stock is owned by corporate insiders.

Institutional Trading of Spire

Hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new stake in Spire in the 3rd quarter worth approximately $994,000. Sanctuary Advisors LLC purchased a new position in shares of Spire during the third quarter worth approximately $575,000. Geode Capital Management LLC lifted its holdings in shares of Spire by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider’s stock worth $93,244,000 after acquiring an additional 71,798 shares during the last quarter. Barclays PLC boosted its stake in shares of Spire by 127.8% in the 3rd quarter. Barclays PLC now owns 109,372 shares of the utilities provider’s stock valued at $7,360,000 after purchasing an additional 61,357 shares in the last quarter. Finally, Yaupon Capital Management LP boosted its stake in shares of Spire by 17.0% in the 3rd quarter. Yaupon Capital Management LP now owns 132,075 shares of the utilities provider’s stock valued at $8,887,000 after purchasing an additional 19,190 shares in the last quarter. 87.36% of the stock is owned by 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.