Spire Inc (SR) Receives Consensus Rating of “Hold” from Brokerages
Spire Inc (NYSE:SR) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $73.14.
SR has been the subject of several recent research reports. Wells Fargo & Co raised Spire from a “market perform” rating to an “outperform” rating and increased their price target for the company from $73.00 to $74.00 in a research note on Thursday, June 14th. Bank of America cut Spire from a “buy” rating to a “neutral” rating and set a $75.00 price target for the company. in a research note on Friday, May 4th. They noted that the move was a valuation call. Guggenheim reissued a “buy” rating and issued a $77.00 price target on shares of Spire in a research note on Monday, July 23rd. ValuEngine raised Spire from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. Finally, Credit Suisse Group cut Spire from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 3rd.
Several hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new stake in Spire during the first quarter worth approximately $112,000. Northwestern Mutual Wealth Management Co. grew its stake in Spire by 696.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,888 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 1,651 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in Spire during the second quarter worth approximately $193,000. Koch Industries Inc. acquired a new stake in Spire during the first quarter worth approximately $202,000. Finally, Private Advisor Group LLC acquired a new stake in Spire during the first quarter worth approximately $226,000. 79.05% of the stock is owned by institutional investors.
Spire (NYSE:SR) last issued its earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $350.60 million during the quarter, compared to analysts’ expectations of $304.27 million. Spire had a return on equity of 9.36% and a net margin of 11.43%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. equities research analysts expect that Spire will post 3.71 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th will be paid a $0.5625 dividend. The ex-dividend date is Monday, September 10th. This represents a $2.25 annualized dividend and a dividend yield of 3.01%. Spire’s payout ratio is 63.20%.
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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