Spire Inc. (NYSE:SR) had its price objective raised by stock analysts at J P Morgan Chase & Co from $71.00 to $75.00 in a report issued on Thursday. The brokerage presently has an “underweight” rating on the utilities provider’s stock. J P Morgan Chase & Co’s price target indicates a potential downside of 1.06% from the stock’s previous close.

A number of other brokerages also recently issued reports on SR. Stifel Nicolaus reissued a “hold” rating and set a $71.00 price objective on shares of Spire in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Wednesday, July 12th. Morgan Stanley boosted their price objective on shares of Spire from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $73.00 price objective on shares of Spire in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Spire has a consensus rating of “Hold” and an average price target of $73.57.

Spire (NYSE:SR) traded up 0.86% during midday trading on Thursday, reaching $76.45. 12,173 shares of the company’s stock were exchanged. Spire has a 12-month low of $59.70 and a 12-month high of $78.00. The firm has a 50-day moving average price of $75.85 and a 200 day moving average price of $72.04. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 23.60 and a beta of 0.32.

Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. The business had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. On average, analysts expect that Spire will post $3.57 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Spire by 3.3% in the 2nd quarter. BlackRock Inc. now owns 5,901,195 shares of the utilities provider’s stock worth $411,607,000 after buying an additional 188,507 shares during the period. Vanguard Group Inc. grew its position in shares of Spire by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,443,903 shares of the utilities provider’s stock worth $309,962,000 after buying an additional 224,903 shares during the period. American Century Companies Inc. grew its position in shares of Spire by 124.9% in the 2nd quarter. American Century Companies Inc. now owns 3,475,470 shares of the utilities provider’s stock worth $242,414,000 after buying an additional 1,930,140 shares during the period. State Street Corp grew its position in shares of Spire by 5.7% in the 2nd quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock worth $86,214,000 after buying an additional 67,106 shares during the period. Finally, Northern Trust Corp grew its position in shares of Spire by 13.2% in the 2nd quarter. Northern Trust Corp now owns 1,051,175 shares of the utilities provider’s stock worth $73,319,000 after buying an additional 122,444 shares during the period. 79.06% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Spire (NYSE:SR)

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