Spire (NYSE:SR – Get Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $3.75-3.95 for the period, compared to the consensus earnings per share estimate of $3.90. Spire also updated its FY 2022 guidance to $3.75-$3.95 EPS.
Analysts Set New Price Targets
Several research firms have weighed in on SR. Mizuho lifted their target price on Spire from $74.00 to $77.00 and gave the stock a neutral rating in a report on Wednesday, May 25th. StockNews.com upgraded Spire from a sell rating to a hold rating in a report on Wednesday, May 11th. Wells Fargo & Company boosted their price target on Spire from $70.00 to $81.00 and gave the company an equal weight rating in a report on Tuesday, April 19th. Morgan Stanley dropped their target price on Spire from $78.00 to $77.00 and set an equal weight rating on the stock in a report on Tuesday, July 26th. Finally, Sidoti lowered Spire from a buy rating to a neutral rating in a report on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $72.33.
Spire Price Performance
Shares of SR stock traded down $0.85 during trading on Friday, hitting $72.31. The company had a trading volume of 296,278 shares, compared to its average volume of 250,032. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market capitalization of $3.77 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 3.74 and a beta of 0.29. The stock’s 50-day moving average price is $73.49 and its 200 day moving average price is $71.38. Spire has a one year low of $59.60 and a one year high of $79.24.
Spire Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, September 9th. Spire’s payout ratio is presently 69.90%.
Insiders Place Their Bets
In other Spire news, EVP Steven P. Rasche bought 1,703 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $24.09 per share, for a total transaction of $41,025.27. Following the completion of the purchase, the executive vice president now directly owns 9,500 shares of the company’s stock, valued at $228,855. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Steven P. Rasche purchased 1,703 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $24.09 per share, for a total transaction of $41,025.27. Following the purchase, the executive vice president now owns 9,500 shares of the company’s stock, valued at $228,855. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Adam W. Woodard sold 2,211 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $74.35, for a total value of $164,387.85. Following the completion of the transaction, the treasurer now owns 1,327 shares of the company’s stock, valued at $98,662.45. The disclosure for this sale can be found here. Corporate insiders own 2.97% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SR. Cohen & Steers Inc. increased its holdings in Spire by 31.8% in the first quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 154 shares during the period. Captrust Financial Advisors grew its holdings in Spire by 50.7% during the 1st quarter. Captrust Financial Advisors now owns 1,768 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 595 shares during the period. Mackenzie Financial Corp acquired a new stake in Spire during the 1st quarter worth about $206,000. Quantbot Technologies LP acquired a new stake in Spire during the 1st quarter worth about $274,000. Finally, Bridgefront Capital LLC acquired a new stake in Spire during the 1st quarter worth about $305,000. 84.91% of the stock is currently owned by institutional investors.
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 in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.
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