Spire Inc. (SR) Receives Consensus Recommendation of “Hold” from Brokerages
Spire Inc. (NYSE:SR) has received a consensus rating of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $73.33.
Several research firms have weighed in on SR. Zacks Investment Research lowered shares of Spire from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Stifel Nicolaus reiterated a “hold” rating and set a $71.00 target price on shares of Spire in a research note on Thursday, August 3rd. Morgan Stanley boosted their target price on shares of Spire from $68.00 to $73.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 target price on shares of Spire in a research note on Wednesday, August 9th.
Shares of Spire (NYSE:SR) opened at 75.80 on Thursday. The company’s 50-day moving average is $75.85 and its 200-day moving average is $72.04. The firm has a market cap of $3.66 billion, a PE ratio of 21.90 and a beta of 0.32. Spire has a 52 week low of $59.70 and a 52 week high of $78.00.
Spire (NYSE:SR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The firm had revenue of $323.50 million during the quarter, compared to analyst estimates of $293.99 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. Analysts forecast that Spire will post $3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, September 8th. Spire’s dividend payout ratio (DPR) is 60.17%.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Bruderman Asset Management LLC acquired a new position in shares of Spire during the second quarter valued at $124,000. LS Investment Advisors LLC boosted its holdings in shares of Spire by 13.0% during the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 206 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Spire by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 144 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Spire by 11.2% during 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 acquiring an additional 209 shares during the period. Finally, Advisor Group Inc. boosted its holdings in shares of Spire by 30.7% during the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 504 shares during the period. 79.06% of the stock is 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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