Shares of Spire Inc (NYSE:SR) have been given an average rating of “Hold” by the seven analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $74.67.
A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upped their price target on shares of Spire from $71.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, November 16th. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Wednesday, October 4th. ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Royal Bank of Canada reissued a “hold” rating and issued a $73.00 price target on shares of Spire in a report on Monday, October 16th. Finally, Morgan Stanley upped their price target on shares of Spire from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Wednesday, December 13th.
A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its stake in Spire by 4.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 289,938 shares of the utilities provider’s stock valued at $21,789,000 after buying an additional 13,668 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Spire by 6.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the utilities provider’s stock valued at $1,563,000 after buying an additional 1,200 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Spire during the third quarter valued at about $209,000. Americafirst Capital Management LLC purchased a new stake in Spire during the third quarter valued at about $451,000. Finally, Sterling Capital Management LLC purchased a new stake in Spire during the third quarter valued at about $1,486,000. 79.99% of the stock is owned by institutional investors.
Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.04. Spire had a net margin of 9.28% and a return on equity of 8.71%. The company had revenue of $258.70 million during the quarter, compared to the consensus estimate of $271.65 million. During the same period in the prior year, the company earned ($0.32) EPS. Spire’s revenue was down 7.4% on a year-over-year basis. equities research analysts anticipate that Spire will post 3.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th were paid a dividend of $0.5625 per share. The ex-dividend date of this dividend was Friday, December 8th. This is a positive change from Spire’s previous quarterly dividend of $0.53. This represents a $2.25 dividend on an annualized basis and a yield of 3.29%. Spire’s dividend payout ratio is currently 63.92%.
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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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