Spire (NYSE:SR) Issues FY 2022 Earnings Guidance

Spire (NYSE:SRGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $3.75-$3.95 for the period, compared to the consensus earnings per share estimate of $3.96. The company issued revenue guidance of -.

Shares of SR stock opened at $75.36 on Monday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.90 and a beta of 0.29. The company’s fifty day simple moving average is $73.17 and its two-hundred day simple moving average is $67.51. Spire has a 1 year low of $59.60 and a 1 year high of $79.24. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.66.

Spire (NYSE:SRGet Rating) last issued its earnings results on Friday, May 6th. The utilities provider reported $3.42 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company earned $3.71 EPS. The firm’s revenue was down 20.3% compared to the same quarter last year. Equities research analysts anticipate that Spire will post 3.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be given a dividend of $0.685 per share. The ex-dividend date is Thursday, June 9th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 3.64%. Spire’s dividend payout ratio (DPR) is presently 67.65%.

A number of equities analysts have commented on SR shares. Wells Fargo & Company boosted their price target on shares of Spire from $70.00 to $81.00 and gave the stock an equal weight rating in a research note on Tuesday, April 19th. Sidoti cut Spire from a buy rating to a neutral rating in a 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 on the stock. in a report on Tuesday, April 12th. TheStreet upgraded Spire from a c+ rating to a b rating in a report on Monday, March 7th. Finally, Morgan Stanley increased their price objective on Spire from $74.00 to $78.00 and gave the company an equal weight rating in a research note on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $74.38.

In other news, EVP Steven P. Rasche purchased 1,703 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were purchased 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 directly owns 9,500 shares in the company, valued at approximately $228,855. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer Adam W. Woodard sold 2,211 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was 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 directly owns 1,327 shares in the company, valued at $98,662.45. The disclosure for this sale can be found here. Insiders own 2.97% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SR. EverSource Wealth Advisors LLC purchased a new position in shares of Spire during the fourth quarter valued at about $33,000. Cohen & Steers Inc. grew its holdings in shares of 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 in the last quarter. Captrust Financial Advisors raised its stake in Spire by 50.7% during the first quarter. Captrust Financial Advisors now owns 1,768 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 595 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Spire in the 1st quarter worth $206,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Spire during the 1st quarter valued at about $274,000. 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.

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