Spire (NYSE:SR) Stock Rating Upgraded by Sidoti

Sidoti upgraded shares of Spire (NYSE:SR) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Price Targets.com reports. The firm currently has $83.00 target price on the utilities provider’s stock.

SR has been the topic of several other research reports. Mizuho began coverage on Spire in a research note on Wednesday, April 21st. They issued a neutral rating and a $78.00 price target on the stock. Morgan Stanley upped their price target on Spire from $76.00 to $78.00 and gave the stock an equal weight rating in a research note on Wednesday, May 26th. TheStreet upgraded Spire from a c+ rating to a b rating in a research note on Thursday, February 11th. Zacks Investment Research downgraded Spire from a buy rating to a hold rating in a research note on Friday, April 23rd. Finally, Credit Suisse Group increased their target price on Spire from $76.00 to $83.00 and gave the company an outperform rating in a research note on Wednesday, May 12th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Spire has an average rating of Buy and an average target price of $77.89.

Spire stock opened at $74.65 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.69 and a quick ratio of 0.57. The stock has a market cap of $3.86 billion, a P/E ratio of 25.92, a P/E/G ratio of 3.08 and a beta of 0.27. The stock has a 50 day moving average of $74.67. Spire has a twelve month low of $50.58 and a twelve month high of $77.95.

Spire (NYSE:SR) last posted its quarterly earnings results on Friday, May 7th. The utilities provider reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.05 by $0.66. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $773.77 million. Spire had a return on equity of 11.05% and a net margin of 7.32%. The firm’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 EPS. Research analysts predict that Spire will post 4.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Friday, June 11th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, June 10th. This represents a $2.60 annualized dividend and a dividend yield of 3.48%. Spire’s payout ratio is 69.15%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Spire by 11.1% during the 4th quarter. Rhumbline Advisers now owns 170,566 shares of the utilities provider’s stock valued at $10,923,000 after buying an additional 16,976 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Spire by 1.0% during the 1st quarter. Victory Capital Management Inc. now owns 328,041 shares of the utilities provider’s stock valued at $24,239,000 after buying an additional 3,207 shares during the period. BlackRock Inc. lifted its holdings in shares of Spire by 6.2% during the 1st quarter. BlackRock Inc. now owns 6,311,528 shares of the utilities provider’s stock valued at $466,360,000 after buying an additional 367,565 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Spire by 168.7% during the 1st quarter. Meeder Asset Management Inc. now owns 669 shares of the utilities provider’s stock valued at $49,000 after buying an additional 420 shares during the period. Finally, The PNC Financial Services Group Inc. lifted its holdings in shares of Spire by 4.2% during the 1st quarter. The PNC Financial Services Group Inc. now owns 7,468 shares of the utilities provider’s stock valued at $551,000 after buying an additional 300 shares during the period. 82.04% of the stock is currently owned by hedge funds and other institutional investors.

About Spire

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 in the United States. The company operates in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.

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