Morgan Stanley Trims Spire (SR) Target Price to $65.00

Spire (NYSE:SR) had its price objective lowered by equities research analysts at Morgan Stanley from $72.00 to $65.00 in a note issued to investors on Tuesday. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 1.22% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Wednesday, January 10th. JPMorgan Chase & Co. reduced their price objective on Spire from $77.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, January 25th. Hilliard Lyons upgraded Spire to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $73.00 target price on shares of Spire in a report on Monday, October 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $65.00 target price on shares of Spire in a report on Friday, February 2nd. 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. Spire presently has a consensus rating of “Hold” and an average price target of $69.60.

Shares of Spire (NYSE:SR) opened at $65.80 on Tuesday. The firm has a market capitalization of $3,176.21, a price-to-earnings ratio of 13.37, a P/E/G ratio of 3.93 and a beta of 0.15. Spire has a 52-week low of $60.08 and a 52-week high of $82.85. The company has a current ratio of 0.70, a quick ratio of 0.53 and a debt-to-equity ratio of 0.97.

Spire (NYSE:SR) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.13. The business had revenue of $561.80 million for the quarter, compared to analyst estimates of $516.16 million. Spire had a return on equity of 8.91% and a net margin of 12.86%. Spire’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. analysts forecast that Spire will post 3.72 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Spire by 5.7% during 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. Pacer Advisors Inc. raised its stake in Spire by 11.6% during the 3rd quarter. Pacer Advisors Inc. now owns 6,967 shares of the utilities provider’s stock worth $520,000 after buying an additional 725 shares during the period. Allianz Asset Management GmbH raised its stake in Spire by 13.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 31,580 shares of the utilities provider’s stock worth $2,358,000 after buying an additional 3,655 shares during the period. CAPROCK Group Inc. acquired a new position in Spire during the 3rd quarter worth approximately $201,000. Finally, Wells Fargo & Company MN raised its stake in Spire by 7.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,059,918 shares of the utilities provider’s stock worth $79,123,000 after buying an additional 73,219 shares during the period. 80.18% of the stock is currently owned by institutional investors and hedge funds.

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About Spire

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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