Spire (NYSE:SR) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Spire (NYSE:SR) from a hold rating to a sell rating in a report released on Friday.

SR has been the subject of several other research reports. Bank of America started coverage on Spire in a report on Friday, December 13th. They set a “neutral” rating and a $70.00 price target for the company. LADENBURG THALM/SH SH lowered Spire from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $65.50 to $60.50 in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Morgan Stanley dropped their price objective on Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Janney Montgomery Scott started coverage on Spire in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.50.

Spire Stock Performance

Shares of SR opened at $68.56 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.30. Spire has a one year low of $56.36 and a one year high of $73.64. The firm has a market capitalization of $3.96 billion, a P/E ratio of 15.91, a PEG ratio of 3.00 and a beta of 0.57. The business has a fifty day moving average of $67.86 and a 200 day moving average of $65.65.

Spire Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Wednesday, December 11th were paid a dividend of $3.14 per share. The ex-dividend date was Wednesday, December 11th. This represents a $12.56 dividend on an annualized basis and a dividend yield of 18.32%. This is a positive change from Spire’s previous quarterly dividend of $0.76. Spire’s dividend payout ratio (DPR) is presently 72.85%.

Insider Activity

In related news, Treasurer Adam W. Woodard sold 1,150 shares of Spire stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.47, for a total value of $77,590.50. Following the sale, the treasurer now directly owns 2,587 shares in the company, valued at approximately $174,544.89. The trade was a 30.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul D. Koonce acquired 1,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average price of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the acquisition, the director now owns 2,425 shares in the company, valued at $178,504.25. The trade was a 70.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Spire

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Spire during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in shares of Spire by 87.2% during the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 204 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Spire during the 2nd quarter worth approximately $31,000. Larson Financial Group LLC raised its position in shares of Spire by 1,318.4% during the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after buying an additional 501 shares during the period. Finally, Missouri Trust & Investment Co raised its position in shares of Spire by 28.6% during the 3rd quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock valued at $61,000 after buying an additional 200 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Spire

Spire Inc, together with 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 through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.