Spire Inc. (NYSE:SR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Spire Inc. (NYSE:SRGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $77.20.

SR has been the topic of several analyst reports. Guggenheim increased their price target on shares of Spire from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. LADENBURG THALM/SH SH upgraded shares of Spire to a “strong-buy” rating in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on shares of Spire from $85.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Spire from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company lifted their price target on shares of Spire from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st.

Get Our Latest Research Report on Spire

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in Spire during the 4th quarter worth approximately $27,000. Van ECK Associates Corp boosted its position in Spire by 4.3% during the 4th quarter. Van ECK Associates Corp now owns 16,292 shares of the utilities provider’s stock valued at $1,105,000 after buying an additional 675 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Spire during the 4th quarter valued at $204,000. Rhumbline Advisers boosted its position in Spire by 0.7% during the 4th quarter. Rhumbline Advisers now owns 207,601 shares of the utilities provider’s stock valued at $14,082,000 after buying an additional 1,441 shares during the period. Finally, Congress Asset Management Co. raised its holdings in Spire by 6.2% in the 4th quarter. Congress Asset Management Co. now owns 64,097 shares of the utilities provider’s stock worth $4,348,000 after purchasing an additional 3,758 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Spire Stock Down 0.0%

Shares of SR opened at $73.20 on Friday. Spire has a 12 month low of $57.77 and a 12 month high of $79.81. The firm’s 50 day moving average is $75.07 and its 200-day moving average is $73.13. The stock has a market capitalization of $4.32 billion, a PE ratio of 17.72, a P/E/G ratio of 2.82 and a beta of 0.63. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SRGet Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.10). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. Spire had a return on equity of 7.88% and a net margin of 9.70%. The business’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.45 EPS. Equities research analysts forecast that Spire will post 4.5 EPS for the current year.

Spire Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, April 11th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, June 11th. Spire’s payout ratio is 77.34%.

About Spire

(Get Free Report

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.

Further Reading

Analyst Recommendations for Spire (NYSE:SR)

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