Spire (NYSE:SR) had its price objective increased by Morgan Stanley from $66.00 to $68.00 in a report released on Thursday, March 8th. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.
SR has been the subject of several other reports. Hilliard Lyons upgraded shares of Spire to a buy rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Spire from a hold rating to a buy rating and set a $80.00 target price for the company in a report on Wednesday, January 10th. ValuEngine lowered shares of Spire from a buy rating to a hold rating in a report on Friday, December 1st. Stifel Nicolaus upped their price objective on shares of Spire from $71.00 to $75.00 and gave the company a hold rating in a report on Thursday, November 16th. Finally, Credit Suisse Group raised shares of Spire from a neutral rating to an outperform rating and decreased their target price for the company from $68.25 to $68.00 in a research report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $70.57.
Shares of Spire stock traded down $0.45 during trading on Thursday, hitting $71.85. The stock had a trading volume of 189,832 shares, compared to its average volume of 322,117. The company has a current ratio of 0.70, a quick ratio of 0.53 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $3,495.28, a PE ratio of 20.18, a price-to-earnings-growth ratio of 4.79 and a beta of 0.06. Spire has a 12 month low of $60.08 and a 12 month high of $82.85.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 12th will be paid a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, March 9th. This is an increase from Spire’s previous quarterly dividend of $0.56. Spire’s payout ratio is 63.20%.
Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in Spire by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 6,967 shares of the utilities provider’s stock valued at $520,000 after purchasing an additional 725 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Spire by 13.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 31,580 shares of the utilities provider’s stock valued at $2,358,000 after purchasing an additional 3,655 shares during the last quarter. Dean Capital Investments Management LLC acquired a new position in Spire in the 4th quarter valued at about $743,000. Robeco Institutional Asset Management B.V. grew its holdings in Spire by 64.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 718,674 shares of the utilities provider’s stock valued at $54,051,000 after buying an additional 282,725 shares during the period. Finally, BlackRock Inc. grew its holdings in Spire by 3.3% in the 4th quarter. BlackRock Inc. now owns 6,273,333 shares of the utilities provider’s stock valued at $471,441,000 after buying an additional 200,037 shares during the period. 82.87% of the stock is owned by institutional investors and hedge funds.
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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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