Spire (NYSE:SR) Rating Lowered to Hold at Zacks Investment Research


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Spire (NYSE:SR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Spire Inc. is a public utility company which is engaged in the purchase, retail distribution, sale and marketing of natural gas. Its operating segment consists of Gas Utility and Gas Marketing. Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation. Gas Marketing segment is engaged in the marketing of natural gas and related activities on a non-regulated basis. Spire Inc, formerly known as The Laclede Group Inc., is headquartered in St. Louis, Missouri. “

A number of other research firms have also recently weighed in on SR. Morgan Stanley lifted their price target on Spire from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, March 25th. UBS Group initiated coverage on Spire in a research note on Wednesday, December 9th. They set a “buy” rating on the stock. Credit Suisse Group decreased their price target on Spire from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Tuesday, February 2nd. TheStreet upgraded shares of Spire from a “c+” rating to a “b” rating in a research note on Thursday, February 11th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $69.00 target price (down previously from $70.00) on shares of Spire in a research report on Wednesday, March 10th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Spire has a consensus rating of “Buy” and an average price target of $72.40.

Shares of NYSE SR opened at $74.74 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.41 and a quick ratio of 0.28. The firm has a market capitalization of $3.86 billion, a PE ratio of 51.19, a P/E/G ratio of 0.91 and a beta of 0.19. Spire has a 1-year low of $50.58 and a 1-year high of $81.47. The business’s fifty day moving average price is $71.27 and its two-hundred day moving average price is $63.42.

Spire (NYSE:SR) last released its quarterly earnings data on Thursday, February 4th. The utilities provider reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. The business had revenue of $512.60 million for the quarter, compared to analysts’ expectations of $592.36 million. Spire had a net margin of 4.76% and a return on equity of 8.88%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Equities research analysts expect that Spire will post 4.08 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its holdings in Spire by 4.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,450 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 246 shares during the last quarter. CI Investments Inc. raised its holdings in shares of Spire by 67.1% in the 4th quarter. CI Investments Inc. now owns 894 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 359 shares in the last quarter. Signaturefd LLC lifted its stake in Spire by 63.9% during the fourth quarter. Signaturefd LLC now owns 1,034 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 403 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Spire during the fourth quarter worth approximately $30,000. Finally, California State Teachers Retirement System boosted its holdings in Spire by 0.7% during the third quarter. California State Teachers Retirement System now owns 76,083 shares of the utilities provider’s stock worth $4,048,000 after buying an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 78.08% of the company’s stock.

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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