Spire Inc. (NYSE:SR) Receives Average Recommendation of “Hold” from Analysts

Spire Inc. (NYSE:SRGet Rating) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $73.14.

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Spire from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 26th. Wells Fargo & Company raised their price objective on Spire from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19th. Sidoti downgraded Spire from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 13th. Zacks Investment Research downgraded Spire from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a research report on Tuesday, April 12th. Finally, Guggenheim downgraded Spire from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a research report on Thursday, January 20th.

In related news, EVP Steven P. Rasche acquired 1,703 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average price 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 approximately $228,855. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer Adam W. Woodard sold 2,211 shares of Spire stock in a transaction dated 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 approximately $98,662.45. The disclosure for this sale can be found here. Company insiders own 2.97% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SR. Renaissance Technologies LLC raised its position in shares of Spire by 2,941.9% during the 1st quarter. Renaissance Technologies LLC now owns 130,800 shares of the utilities provider’s stock worth $9,386,000 after acquiring an additional 126,500 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Spire during the 1st quarter worth about $5,382,000. Charles Schwab Investment Management Inc. raised its position in shares of Spire by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 582,773 shares of the utilities provider’s stock worth $41,820,000 after acquiring an additional 26,874 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Spire by 3.4% during the 1st quarter. Federated Hermes Inc. now owns 6,073 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 198 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in shares of Spire by 103.5% during the 1st quarter. Bridgewater Associates LP now owns 6,243 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 3,175 shares in the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.

Shares of SR opened at $74.50 on Friday. Spire has a 52-week low of $59.60 and a 52-week high of $79.24. The company has a market capitalization of $3.88 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.83 and a beta of 0.29. The stock has a fifty day simple moving average of $72.43 and a two-hundred day simple moving average of $67.06. The company has a quick ratio of 0.66, a current ratio of 0.78 and a debt-to-equity ratio of 1.23.

Spire (NYSE:SRGet Rating) last issued its earnings results on Friday, May 6th. The utilities provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. Spire had a return on equity of 9.59% and a net margin of 10.94%. The business had revenue of $880.90 million during the quarter, compared to the consensus estimate of $849.50 million. During the same period last year, the company earned $3.71 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities analysts anticipate that Spire will post 3.87 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 10th will be issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, June 9th. Spire’s dividend payout ratio (DPR) is 67.65%.

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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Analyst Recommendations for Spire (NYSE:SR)

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