Spire Inc. (NYSE:SR) had its target price lifted by Morgan Stanley from $73.00 to $75.00 in a report published on Friday morning. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.
SR has been the subject of several other research reports. Zacks Investment Research upgraded Spire from a hold rating to a buy rating and set a $77.00 price target for the company in a report on Wednesday, July 12th. Royal Bank Of Canada restated a hold rating and set a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a hold rating and set a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Spire has a consensus rating of Hold and a consensus target price of $72.17.
Shares of Spire (NYSE:SR) opened at 77.15 on Friday. The company has a market cap of $3.72 billion, a P/E ratio of 22.29 and a beta of 0.33. The company has a 50-day moving average price of $75.45 and a 200-day moving average price of $70.54. Spire has a 52-week low of $59.54 and a 52-week high of $78.00.
Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The business had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. On average, equities analysts predict that Spire will post $3.57 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, September 8th. Spire’s dividend payout ratio is currently 60.17%.
Several hedge funds have recently modified their holdings of SR. Bank of Montreal Can lifted its stake in shares of Spire by 8.4% during the 1st quarter. Bank of Montreal Can now owns 31,950 shares of the utilities provider’s stock worth $2,158,000 after acquiring an additional 2,469 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Spire by 2.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 12,326 shares of the utilities provider’s stock worth $832,000 after acquiring an additional 250 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Spire by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 63,539 shares of the utilities provider’s stock worth $4,285,000 after acquiring an additional 3,891 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Spire by 15.7% during the 1st quarter. First Trust Advisors LP now owns 308,357 shares of the utilities provider’s stock worth $20,814,000 after acquiring an additional 41,866 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Spire by 5.9% during the 1st quarter. Advisors Asset Management Inc. now owns 7,156 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 398 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.
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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