Spire Inc. (NYSE:SR) Receives $77.57 Average Price Target from Brokerages

Spire Inc. (NYSE:SR) has been assigned a consensus recommendation of “Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $77.57.

A number of equities analysts recently weighed in on SR shares. Mizuho lowered their target price on shares of Spire from $78.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, July 1st. Morgan Stanley lowered their target price on shares of Spire from $79.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, August 19th. Zacks Investment Research downgraded shares of Spire from a “buy” rating to a “hold” rating in a research note on Thursday, August 19th. TheStreet cut shares of Spire from a “b” rating to a “c+” rating in a report on Tuesday, September 7th. Finally, Sidoti upgraded shares of Spire from a “neutral” rating to a “buy” rating and set a $83.00 price target for the company in a report on Thursday, June 10th.

Shares of SR stock traded down $0.87 during trading hours on Tuesday, hitting $62.87. 348,583 shares of the company’s stock traded hands, compared to its average volume of 310,933. The stock’s 50 day simple moving average is $69.77 and its 200 day simple moving average is $72.37. The stock has a market cap of $3.25 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.61 and a beta of 0.27. Spire has a 12 month low of $50.58 and a 12 month high of $77.95. The company has a quick ratio of 0.53, a current ratio of 0.70 and a debt-to-equity ratio of 1.20.

Spire (NYSE:SR) last announced its earnings results on Thursday, August 5th. The utilities provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Spire had a net margin of 11.74% and a return on equity of 10.87%. The business had revenue of $327.80 million during the quarter, compared to the consensus estimate of $313.39 million. As a group, equities research analysts expect that Spire will post 4.42 EPS for the current fiscal year.

The firm also recently disclosed a dividend, which will be paid on Saturday, October 2nd. Stockholders of record on Friday, September 10th will be issued a dividend of $0.65 per share. This is a boost from Spire’s previous dividend of $0.62. This represents a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, September 9th. Spire’s dividend payout ratio (DPR) is currently 69.15%.

Several hedge funds and other institutional investors have recently modified their holdings of SR. BlackRock Inc. boosted its holdings in Spire by 6.2% during the first quarter. BlackRock Inc. now owns 6,311,528 shares of the utilities provider’s stock worth $466,360,000 after purchasing an additional 367,565 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Spire by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,069,344 shares of the utilities provider’s stock worth $366,362,000 after purchasing an additional 86,608 shares during the last quarter. State Street Corp boosted its holdings in Spire by 1.6% during the second quarter. State Street Corp now owns 1,630,888 shares of the utilities provider’s stock worth $118,956,000 after purchasing an additional 25,967 shares during the last quarter. Deutsche Bank AG boosted its holdings in Spire by 16.9% during the second quarter. Deutsche Bank AG now owns 1,615,625 shares of the utilities provider’s stock worth $116,761,000 after purchasing an additional 233,257 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Spire by 3.3% during the first quarter. Franklin Resources Inc. now owns 1,129,766 shares of the utilities provider’s stock worth $83,478,000 after purchasing an additional 35,783 shares during the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.

About Spire

Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the following business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.

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Analyst Recommendations for Spire (NYSE:SR)

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