Spire (NYSE:SR) Price Target Raised to $75.00 at Morgan Stanley

Spire (NYSE:SRGet Rating) had its target price boosted by Morgan Stanley from $74.00 to $75.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

SR has been the topic of several other reports. TheStreet downgraded Spire from a b- rating to a c+ rating in a research report on Monday, September 26th. Guggenheim increased their price target on Spire from $61.00 to $63.00 and gave the stock a neutral rating in a research report on Wednesday, December 7th. Bank of America lowered shares of Spire from a neutral rating to an underperform rating and lowered their target price for the stock from $78.00 to $61.00 in a research note on Monday, December 12th. Royal Bank of Canada increased their target price on shares of Spire from $69.00 to $75.00 and gave the stock a sector perform rating in a research note on Monday, November 21st. Finally, Mizuho lowered their target price on shares of Spire from $72.00 to $69.00 and set a neutral rating on the stock in a research note on Thursday, December 8th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $69.00.

Spire Price Performance

NYSE SR opened at $70.40 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.68 and a quick ratio of 0.50. The stock’s fifty day moving average price is $70.15 and its 200 day moving average price is $69.87. Spire has a 1 year low of $61.52 and a 1 year high of $79.24. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 3.38 and a beta of 0.42.

Spire (NYSE:SRGet Rating) last released its earnings results on Wednesday, November 16th. The utilities provider reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.02). The firm had revenue of $314.20 million during the quarter, compared to analyst estimates of $280.97 million. Spire had a net margin of 10.04% and a return on equity of 8.48%. As a group, equities research analysts forecast that Spire will post 4.14 earnings per share for the current year.

Spire Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Shareholders of record on Monday, December 12th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, December 9th. Spire’s dividend payout ratio (DPR) is 72.36%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Spire by 34.1% during the 1st quarter. State Street Corp now owns 2,252,151 shares of the utilities provider’s stock worth $163,065,000 after buying an additional 572,381 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Spire by 68.0% during the 1st quarter. Invesco Ltd. now owns 762,483 shares of the utilities provider’s stock worth $54,715,000 after buying an additional 308,550 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Spire by 69.5% during the 2nd quarter. Sei Investments Co. now owns 400,905 shares of the utilities provider’s stock worth $29,831,000 after buying an additional 164,375 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Spire by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,411,808 shares of the utilities provider’s stock worth $337,318,000 after buying an additional 136,434 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings 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 buying an additional 126,500 shares during the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.

Spire Company Profile

(Get Rating)

Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the Gas Utility and Gas Marketing Business segments. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.

Featured Stories

Analyst Recommendations 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.