Brokerages Set Spire Inc. (SR) PT at $70.80
Spire Inc. (NYSE:SR) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $70.80.
SR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Spire from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Morgan Stanley increased their price objective on shares of Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price objective on shares of Spire in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $73.00 price objective on shares of Spire in a research report on Wednesday, August 9th.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Spire by 2.4% in the first quarter. IFP Advisors Inc now owns 7,191 shares of the utilities provider’s stock worth $485,000 after buying an additional 170 shares during the period. Miller Howard Investments Inc. NY bought a new position in Spire during the first quarter worth approximately $1,171,000. Strs Ohio increased its position in Spire by 0.7% in the first quarter. Strs Ohio now owns 54,900 shares of the utilities provider’s stock worth $3,705,000 after buying an additional 400 shares during the period. Janney Montgomery Scott LLC increased its position in Spire by 53.7% in the first quarter. Janney Montgomery Scott LLC now owns 31,010 shares of the utilities provider’s stock worth $2,093,000 after buying an additional 10,832 shares during the period. Finally, Cardinal Capital Management increased its position in Spire by 1.2% in the first quarter. Cardinal Capital Management now owns 15,745 shares of the utilities provider’s stock worth $1,063,000 after buying an additional 191 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Spire (NYSE:SR) traded down 0.06% during mid-day trading on Wednesday, reaching $77.35. The company’s stock had a trading volume of 152,885 shares. Spire has a one year low of $59.54 and a one year high of $78.00. The firm’s 50 day moving average is $73.42 and its 200-day moving average is $69.57. The stock has a market cap of $3.73 billion, a P/E ratio of 22.35 and a beta of 0.33.
Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The company had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. During the same period in the prior year, the firm posted $0.33 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts expect that Spire will post $3.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, September 8th. Spire’s dividend payout ratio is presently 60.17%.
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.
Receive News & Ratings for Spire Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.