The Laclede Group Inc. (SR) Shares Gap Up to $64.52
The Laclede Group Inc. (NYSE:SR) gapped up before the market opened on Tuesday . The stock had previously closed at $64.50, but opened at $64.52. The Laclede Group shares last traded at $64.76, with a volume of 67,604 shares.
Several equities research analysts have commented on the stock. Zacks Investment Research cut shares of The Laclede Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Ladenburg Thalmann assumed coverage on shares of The Laclede Group in a research report on Friday, August 19th. They set a “neutral” rating and a $69.00 price target on the stock. TheStreet raised shares of The Laclede Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 28th. Finally, Wells Fargo & Co. cut shares of The Laclede Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.00.
The firm has a 50-day moving average of $65.92 and a 200-day moving average of $66.38. The stock has a market cap of $2.94 billion, a P/E ratio of 20.19 and a beta of 0.31.
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The Laclede Group (NYSE:SR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The Laclede Group had a net margin of 9.55% and a return on equity of 8.84%. The company had revenue of $249.30 million for the quarter, compared to analyst estimates of $290.50 million. During the same period last year, the firm earned $0.25 earnings per share. The firm’s revenue was down 9.4% on a year-over-year basis. Equities research analysts predict that The Laclede Group Inc. will post $3.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Monday, September 12th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Thursday, September 8th. The Laclede Group’s payout ratio is currently 61.25%.
About The Laclede Group
Spire Inc, formerly The Laclede Group, Inc is a public utility holding company for Laclede Gas Company (Laclede Gas or the Missouri Utilities). It operates through two segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation (Alagasco or the Alabama Utility) (collectively, the Utilities).
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