Analysts Set Spire Inc. (NYSE:SR) Target Price at $96.22

Shares of Spire Inc. (NYSE:SR) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $96.2222.

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Spire from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “buy (b)” rating on shares of Spire in a report on Wednesday, June 17th. TD Cowen assumed coverage on shares of Spire in a report on Thursday, April 16th. They issued a “hold” rating and a $101.00 target price on the stock. Wolfe Research assumed coverage on shares of Spire in a report on Tuesday, May 26th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley set a $96.00 target price on shares of Spire in a report on Thursday, May 21st.

Spire Trading Down 0.3%

Shares of SR stock opened at $79.26 on Tuesday. Spire has a 12-month low of $71.24 and a 12-month high of $95.31. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.69. The firm’s 50 day moving average is $84.71 and its 200 day moving average is $86.42. The stock has a market capitalization of $4.69 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.78 and a beta of 0.52.

Spire (NYSE:SR) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $3.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.04. Spire had a net margin of 13.97% and a return on equity of 9.49%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $3.60 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts expect that Spire will post 4.01 earnings per share for the current year.

Spire Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Thursday, June 11th. Spire’s dividend payout ratio (DPR) is currently 58.00%.

Insider Buying and Selling at Spire

In other Spire news, Director Paul D. Koonce purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $85.81 per share, for a total transaction of $171,620.00. Following the purchase, the director directly owned 7,000 shares of the company’s stock, valued at $600,670. The trade was a 40.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ryan L. Hyman sold 3,822 shares of Spire stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total transaction of $307,709.22. Following the transaction, the senior vice president owned 14,295 shares in the company, valued at $1,150,890.45. This represents a 21.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 3,000 shares of company stock worth $251,100 in the last quarter. Corporate insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of Spire during the 4th quarter valued at $25,000. Sound Income Strategies LLC bought a new stake in shares of Spire during the 4th quarter valued at $25,000. Optima Capital LLC bought a new stake in shares of Spire during the 4th quarter valued at $25,000. Community Bank N.A. bought a new stake in shares of Spire during the 3rd quarter valued at $25,000. Finally, MV Capital Management Inc. bought a new stake in shares of Spire during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Spire Company Profile

Spire Inc (NYSE: SR), formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire’s service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.