Spire (NYSE:SR) Receives “Outperform” Rating from Mizuho

Spire (NYSE:SR)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Mizuho in a note issued to investors on Tuesday,Benzinga reports. They presently have a $88.00 price objective on the utilities provider’s stock. Mizuho’s target price points to a potential upside of 12.22% from the stock’s previous close.

SR has been the subject of a number of other research reports. Wells Fargo & Company began coverage on shares of Spire in a report on Monday, May 11th. They set an “overweight” rating and a $96.00 price objective for the company. TD Cowen assumed coverage on shares of Spire in a research note on Thursday, April 16th. They issued a “hold” rating and a $101.00 target price on the stock. UBS Group reduced their target price on shares of Spire from $106.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $85.00 price target (up from $84.00) on shares of Spire in a research note on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Spire in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.30.

Spire Stock Down 1.6%

SR stock opened at $78.42 on Tuesday. The stock’s fifty day simple moving average is $83.00 and its two-hundred day simple moving average is $86.23. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.69. Spire has a 1-year low of $71.24 and a 1-year high of $95.31. The stock has a market cap of $4.64 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.78 and a beta of 0.52.

Spire (NYSE:SR) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.07 billion. Spire had a return on equity of 9.49% and a net margin of 13.97%.The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $3.60 EPS. Analysts expect that Spire will post 4.02 EPS for the current year.

Insider Transactions at Spire

In other news, SVP Ryan L. Hyman sold 3,822 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $80.51, for a total value of $307,709.22. Following the sale, the senior vice president directly owned 14,295 shares of the company’s stock, valued at approximately $1,150,890.45. This represents a 21.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul D. Koonce acquired 2,000 shares of Spire stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $85.81 per share, with a total value of $171,620.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at $600,670. This represents a 40.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 3,000 shares of company stock valued at $251,100 in the last ninety days. Insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Community Bank N.A. purchased a new position in Spire during the third quarter worth about $25,000. Sound Income Strategies LLC purchased a new stake in shares of Spire in the 4th quarter valued at about $25,000. Optima Capital LLC purchased a new stake in shares of Spire in the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Spire during the 4th quarter valued at about $25,000. Finally, MV Capital Management Inc. bought a new stake in shares of Spire during the 4th quarter valued at about $33,000. 87.36% of the stock is owned by institutional investors.

About Spire

Spire Inc (NYSE: SR), formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire’s service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.