Shares of Spire Inc. (NYSE:SR) have been given an average rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $70.50.
A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price target on shares of Spire in a research note on Wednesday, August 9th. Morgan Stanley boosted their price target on shares of Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Stifel Nicolaus reiterated a “hold” rating and set a $71.00 price target on shares of Spire in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Spire from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th.
Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in shares of Spire by 1.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 236,198 shares of the utilities provider’s stock valued at $15,944,000 after buying an additional 2,958 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Spire by 12.6% in the fourth quarter. Teachers Advisors LLC now owns 80,328 shares of the utilities provider’s stock valued at $5,185,000 after buying an additional 9,020 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Spire by 15.4% in the first quarter. Citadel Advisors LLC now owns 17,953 shares of the utilities provider’s stock valued at $1,212,000 after buying an additional 2,396 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Spire by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,070 shares of the utilities provider’s stock valued at $342,000 after buying an additional 100 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock valued at $108,000 after buying an additional 407 shares during the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.
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Spire (NYSE:SR) traded up 0.92% during mid-day trading on Friday, hitting $76.40. The company’s stock had a trading volume of 55,722 shares. The company has a market cap of $3.69 billion, a P/E ratio of 22.07 and a beta of 0.33. The firm’s 50-day moving average is $71.97 and its 200-day moving average is $68.91. Spire has a 12-month low of $59.54 and a 12-month high of $76.50.
Spire (NYSE:SR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The business had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. During the same period in the prior year, the company earned $0.33 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. Analysts predict that Spire will post $3.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be given a $0.525 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.10 annualized dividend and a dividend yield of 2.77%. Spire’s dividend payout ratio is presently 60.17%.
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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