Spire (NYSE:SR – Get Free Report) has been given a $80.00 price target by research analysts at Morgan Stanley in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 10.48% from the stock’s current price.
Several other research analysts also recently issued reports on SR. Guggenheim lifted their price objective on Spire from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their price target on Spire from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Mizuho boosted their price target on Spire from $76.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. LADENBURG THALM/SH SH upgraded Spire to a “strong-buy” rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. cut their price target on Spire from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.40.
Read Our Latest Stock Report on SR
Spire Trading Up 0.3%
Spire (NYSE:SR – Get Free Report) last issued its quarterly earnings data 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). Spire had a return on equity of 8.49% and a net margin of 10.22%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm earned $3.45 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts anticipate that Spire will post 4.5 EPS for the current fiscal year.
Institutional Trading of Spire
Institutional investors have recently made changes to their positions in the stock. Lee Danner & Bass Inc. purchased a new stake in Spire during the 4th quarter worth $32,000. Capital Advisors Ltd. LLC boosted its position in Spire by 431.4% during the 4th quarter. Capital Advisors Ltd. LLC now owns 627 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 509 shares during the period. Quarry LP purchased a new stake in Spire during the 1st quarter worth $50,000. State of Wyoming purchased a new stake in Spire during the 4th quarter worth $52,000. Finally, Bayforest Capital Ltd boosted its position in Spire by 2,648.0% during the 1st quarter. Bayforest Capital Ltd now owns 687 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 662 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.
About Spire
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.
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