Spire Inc. (SR) To Go Ex-Dividend on June 11th

Spire Inc. (NYSE:SRGet Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Tuesday, June 11th will be given a dividend of 0.755 per share by the utilities provider on Tuesday, July 2nd. This represents a $3.02 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Tuesday, June 11th.

Spire has increased its dividend payment by an average of 5.0% annually over the last three years. Spire has a payout ratio of 65.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Spire to earn $4.57 per share next year, which means the company should continue to be able to cover its $3.02 annual dividend with an expected future payout ratio of 66.1%.

Spire Price Performance

Spire stock opened at $59.74 on Friday. Spire has a 52 week low of $53.77 and a 52 week high of $67.77. The business has a 50-day simple moving average of $60.78 and a 200 day simple moving average of $60.72. The company has a quick ratio of 0.48, a current ratio of 0.61 and a debt-to-equity ratio of 1.09. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.76 and a beta of 0.51.

Spire (NYSE:SRGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $3.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.86 by ($0.41). Spire had a return on equity of 7.88% and a net margin of 9.05%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. Spire’s revenue for the quarter was up .5% compared to the same quarter last year. On average, research analysts forecast that Spire will post 4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Treasurer Adam W. Woodard sold 1,229 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total value of $73,223.82. Following the transaction, the treasurer now directly owns 1,560 shares in the company, valued at approximately $92,944.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.86% of the company’s stock.

Analyst Ratings Changes

SR has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Spire from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH began coverage on Spire in a research report on Friday, April 26th. They set a “neutral” rating and a $57.50 price target for the company. Mizuho downgraded Spire from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $62.00 in a report on Thursday, May 2nd. Morgan Stanley raised their target price on Spire from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 target price on shares of Spire in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.17.

Read Our Latest Report on SR

About Spire

(Get Free Report)

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 through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.

Further Reading

Dividend History for Spire (NYSE:SR)

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