Morgan Stanley Raises Spire (NYSE:SR) Price Target to $74.00

Spire (NYSE:SRGet Rating) had its target price raised by equities research analysts at Morgan Stanley from $70.00 to $74.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 6.28% from the stock’s current price.

A number of other research firms have also recently commented on SR. TheStreet upgraded shares of Spire from a “c+” rating to a “b” rating in a report on Monday, March 7th. Guggenheim cut shares of Spire from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a report on Thursday, January 20th. StockNews.com assumed coverage on shares of Spire in a report on Thursday, March 31st. They set a “sell” rating for the company. Wells Fargo & Company raised their price target on shares of Spire from $70.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Zacks Investment Research lowered shares of Spire from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a research report on Tuesday, April 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.22.

NYSE:SR traded up $0.87 on Wednesday, hitting $78.96. The company had a trading volume of 929 shares, compared to its average volume of 373,297. The stock has a market cap of $4.09 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.66 and a beta of 0.32. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average price is $69.14. Spire has a 52 week low of $59.60 and a 52 week high of $78.45.

Spire (NYSE:SRGet Rating) last released its quarterly earnings results on Wednesday, February 2nd. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.17). Spire had a net margin of 10.29% and a return on equity of 10.13%. The business had revenue of $555.40 million for the quarter, compared to the consensus estimate of $548.70 million. During the same period in the previous year, the business posted $1.42 EPS. Spire’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Spire will post 3.89 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Spire by 4.0% during the fourth quarter. BlackRock Inc. now owns 6,211,603 shares of the utilities provider’s stock valued at $405,121,000 after buying an additional 237,990 shares during the period. American Century Companies Inc. boosted its stake in Spire by 1.1% during the third quarter. American Century Companies Inc. now owns 4,958,287 shares of the utilities provider’s stock worth $303,348,000 after acquiring an additional 55,708 shares in the last quarter. State Street Corp boosted its stake in Spire by 2.4% during the fourth quarter. State Street Corp now owns 1,679,770 shares of the utilities provider’s stock worth $110,678,000 after acquiring an additional 39,066 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Spire by 229.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,500,546 shares of the utilities provider’s stock worth $97,865,000 after acquiring an additional 1,045,621 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Spire by 60.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,326,654 shares of the utilities provider’s stock worth $86,524,000 after acquiring an additional 498,156 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Spire Company Profile (Get Rating)

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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