Janney Montgomery Scott Initiates Coverage on Spire (NYSE:SR)

Analysts at Janney Montgomery Scott started coverage on shares of Spire (NYSE:SR) in a report issued on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $73.00 price target on the utilities provider’s stock. Janney Montgomery Scott’s price target indicates a potential upside of 13.25% from the company’s current price.

SR has been the topic of a number of other reports. Morgan Stanley cut their price target on Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Wells Fargo & Company raised their target price on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. LADENBURG THALM/SH SH downgraded Spire from a “neutral” rating to a “sell” rating and lowered their price target for the company from $65.50 to $60.50 in a report on Thursday, October 17th. Bank of America assumed coverage on shares of Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Spire presently has a consensus rating of “Hold” and a consensus price target of $70.28.

Spire Trading Down 5.6 %

NYSE:SR opened at $64.46 on Tuesday. Spire has a 12-month low of $56.36 and a 12-month high of $73.64. The firm has a market cap of $3.72 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average price of $67.39 and a 200 day moving average price of $65.00.

Insider Activity

In other news, Director Paul D. Koonce bought 1,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were bought at an average cost of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the transaction, the director now owns 2,425 shares in the company, valued at $178,504.25. This trade represents a 70.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Adam W. Woodard sold 1,150 shares of the firm’s stock in a transaction 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 completion of the transaction, the treasurer now owns 2,587 shares of the company’s stock, valued at approximately $174,544.89. This represents a 30.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On Spire

Several hedge funds have recently bought and sold shares of SR. Meeder Asset Management Inc. purchased a new stake in shares of Spire during the third quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in Spire in the 2nd quarter valued at $31,000. Larson Financial Group LLC raised its holdings in Spire by 1,318.4% in the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 501 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Spire by 26.8% during the 2nd quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 161 shares during the period. Finally, Missouri Trust & Investment Co lifted its stake in shares of Spire by 28.6% during the 3rd quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.