Morgan Stanley Boosts Spire Inc. (SR) Price Target to $75.00
Spire Inc. (NYSE:SR) had its price target raised by investment analysts at Morgan Stanley from $73.00 to $75.00 in a report issued on Friday. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 2.53% from the company’s current price.
Several other brokerages have also weighed in on SR. Royal Bank Of Canada restated a “hold” rating and set a $73.00 target price on shares of Spire in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Spire from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Stifel Nicolaus restated a “hold” rating and set a $71.00 target price on shares of Spire in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Spire currently has a consensus rating of “Hold” and a consensus price target of $72.17.
Shares of Spire (NYSE SR) traded up 0.69% during trading on Friday, hitting $76.95. The stock had a trading volume of 128,272 shares. The stock has a market cap of $3.71 billion, a P/E ratio of 22.23 and a beta of 0.33. The stock’s 50 day moving average price is $75.20 and its 200-day moving average price is $70.38. Spire has a one year low of $59.54 and a one year high of $78.00.
Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The business had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. Analysts expect that Spire will post $3.57 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Phocas Financial Corp. lifted its holdings in shares of Spire by 4.7% in the second quarter. Phocas Financial Corp. now owns 114,735 shares of the utilities provider’s stock valued at $8,003,000 after purchasing an additional 5,181 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of Spire by 66.5% in the second quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 722 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Spire by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 209 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Spire by 12.5% in the second quarter. Verition Fund Management LLC now owns 53,995 shares of the utilities provider’s stock valued at $3,766,000 after purchasing an additional 5,995 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Spire in the second quarter valued at about $728,000. 79.05% of the stock is currently owned by institutional investors.
Spire Company Profile
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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