Spire (SR) Cut to Hold at Zacks Investment Research

Spire (NYSE:SR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “Spire Inc. is a public utility company which is engaged in the purchase, retail distribution, sale and marketing of natural gas. Its operating segment consists of Gas Utility and Gas Marketing. Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation. Gas Marketing segment is engaged in the marketing of natural gas and related activities on a non-regulated basis. Spire Inc, formerly known as The Laclede Group Inc., is headquartered in St. Louis, Missouri. “

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “hold” rating and set a $73.00 price target on shares of Spire in a report on Monday, October 16th. JPMorgan Chase & Co. raised their price target on Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. ValuEngine cut Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Morgan Stanley raised their price target on Spire from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Wednesday, December 13th. Finally, Stifel Nicolaus raised their price target on Spire from $71.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $74.67.

Spire (NYSE:SR) traded up $0.25 during trading hours on Friday, reaching $68.40. The company’s stock had a trading volume of 205,710 shares, compared to its average volume of 168,601. The company has a current ratio of 0.66, a quick ratio of 0.46 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $3,291.30, a PE ratio of 19.43, a PEG ratio of 3.66 and a beta of 0.30. Spire has a twelve month low of $62.33 and a twelve month high of $82.85.

Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.04. The business had revenue of $258.70 million for the quarter, compared to analysts’ expectations of $271.65 million. Spire had a return on equity of 8.71% and a net margin of 9.28%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. research analysts forecast that Spire will post 3.72 EPS for the current year.

Several hedge funds have recently modified their holdings of SR. Public Employees Retirement System of Ohio increased 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 worth $144,000 after purchasing an additional 209 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Spire by 30.7% in the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 504 shares during the last quarter. Archford Capital Strategies LLC increased 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 worth $168,000 after purchasing an additional 722 shares during the last quarter. CAPROCK Group Inc. bought a new stake in shares of Spire in the third quarter worth about $201,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Spire in the third quarter worth about $209,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

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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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