Spire Inc (NYSE:SR) has earned an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $78.75.
A number of brokerages have issued reports on SR. Wells Fargo & Co reduced their price objective on Spire from $91.00 to $88.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Zacks Investment Research downgraded Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley set a $80.00 price objective on Spire and gave the company a “sell” rating in a research note on Thursday, May 16th.
NYSE SR opened at $82.02 on Monday. The firm has a market capitalization of $4.20 billion, a P/E ratio of 22.05, a PEG ratio of 5.00 and a beta of 0.21. The business has a fifty day simple moving average of $83.58 and a 200 day simple moving average of $82.45. Spire has a 12 month low of $70.53 and a 12 month high of $87.13. The company has a current ratio of 0.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.86.
Spire (NYSE:SR) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $321.30 million during the quarter, compared to analysts’ expectations of $333.14 million. Spire had a net margin of 9.74% and a return on equity of 7.56%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts predict that Spire will post 3.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.592 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.37 dividend on an annualized basis and a yield of 2.89%. Spire’s dividend payout ratio (DPR) is presently 63.71%.
In other Spire news, Director Edward L. Glotzbach acquired 8,000 shares of Spire stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $26.00 per share, for a total transaction of $208,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in SR. Invesco Ltd. grew its stake in shares of Spire by 230.0% during the 2nd quarter. Invesco Ltd. now owns 735,142 shares of the utilities provider’s stock worth $61,693,000 after acquiring an additional 512,346 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Spire by 91.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 943,689 shares of the utilities provider’s stock worth $79,194,000 after acquiring an additional 451,810 shares during the period. American Century Companies Inc. grew its stake in shares of Spire by 6.1% during the 1st quarter. American Century Companies Inc. now owns 3,394,915 shares of the utilities provider’s stock worth $279,368,000 after acquiring an additional 194,435 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Spire during the 1st quarter worth $13,674,000. Finally, FMR LLC grew its stake in shares of Spire by 19.7% during the 1st quarter. FMR LLC now owns 821,696 shares of the utilities provider’s stock worth $67,617,000 after acquiring an additional 135,051 shares during the period. Hedge funds and other institutional investors own 78.89% of the company’s stock.
Spire Company Profile
Spire Inc, through 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 marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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