Spire Inc. (SR) PT Raised to $73.00 at Morgan Stanley
Spire Inc. (NYSE:SR) had its price objective raised by research analysts at Morgan Stanley from $68.00 to $73.00 in a research report issued to clients and investors on Thursday. The firm currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 4.01% from the stock’s current price.
A number of other brokerages also recently commented on SR. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 target price on shares of Spire in a research note on Wednesday. Stifel Nicolaus restated a “hold” rating and issued a $71.00 target price on shares of Spire in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Spire from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $71.43.
Spire (SR) traded up 0.93% on Thursday, hitting $76.05. The stock had a trading volume of 145,895 shares. Spire has a 52-week low of $59.54 and a 52-week high of $76.20. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 21.97 and a beta of 0.33. The company has a 50 day moving average price of $71.39 and a 200-day moving average price of $68.57.
Spire (NYSE:SR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The firm had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts predict that Spire will post $3.57 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares during the last quarter. LS Investment Advisors LLC boosted its position in Spire by 13.0% in the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock worth $125,000 after buying an additional 206 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Spire by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after buying an additional 144 shares during the last quarter. World Asset Management Inc acquired a new position in Spire during the second quarter worth $222,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock worth $223,000 after buying an additional 255 shares during the last quarter. 74.68% of the stock is owned by institutional investors.
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.
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