Spire (NYSE:SR) Announces Quarterly Earnings Results

Spire (NYSE:SRGet Rating) announced its quarterly earnings data on Friday. The utilities provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.11 by $0.31, MarketWatch Earnings reports. The company had revenue of $880.90 million for the quarter, compared to the consensus estimate of $849.50 million. Spire had a return on equity of 10.13% and a net margin of 10.29%. Spire’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.71 EPS. Spire updated its FY22 guidance to $3.75-3.95 EPS.

Shares of SR stock opened at $73.95 on Friday. The stock’s 50-day simple moving average is $71.86 and its 200-day simple moving average is $66.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market capitalization of $3.83 billion, a PE ratio of 17.08, a P/E/G ratio of 3.78 and a beta of 0.29. Spire has a fifty-two week low of $59.60 and a fifty-two week high of $79.24.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be issued a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, June 9th. Spire’s dividend payout ratio is presently 63.28%.

SR has been the subject of several research reports. Morgan Stanley upped their target price on Spire from $74.00 to $78.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Zacks Investment Research cut Spire from a “hold” rating to a “sell” rating and set a $80.00 target price for the company. in a report on Tuesday, April 12th. StockNews.com began coverage on Spire in a report on Thursday, March 31st. They issued a “sell” rating for the company. Wells Fargo & Company upped their price objective on Spire from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. Finally, Sidoti cut Spire from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Spire has an average rating of “Hold” and a consensus price target of $75.33.

Institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its holdings in Spire by 9.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 503,357 shares of the utilities provider’s stock worth $32,829,000 after acquiring an additional 44,272 shares during the period. Legal & General Group Plc grew its holdings in Spire by 2.9% in the fourth quarter. Legal & General Group Plc now owns 432,905 shares of the utilities provider’s stock valued at $28,234,000 after purchasing an additional 12,201 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Spire by 1.0% in the fourth quarter. Parametric Portfolio Associates LLC now owns 353,876 shares of the utilities provider’s stock valued at $23,080,000 after purchasing an additional 3,463 shares during the period. Sei Investments Co. grew its holdings in Spire by 3.6% in the fourth quarter. Sei Investments Co. now owns 254,546 shares of the utilities provider’s stock valued at $16,616,000 after purchasing an additional 8,959 shares during the period. Finally, Morgan Stanley grew its holdings in Spire by 55.2% in the second quarter. Morgan Stanley now owns 155,120 shares of the utilities provider’s stock valued at $11,210,000 after purchasing an additional 55,164 shares during the period. 84.91% of the stock is currently owned by hedge funds and other institutional investors.

About Spire (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.

Read More

Earnings History for Spire (NYSE:SR)

Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.