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

Spire (NYSE:SR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, January 5th.

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. “

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Morgan Stanley raised their target price on shares of Spire from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Wednesday, December 13th. Royal Bank of Canada reissued a “hold” rating and set a $73.00 price target on shares of Spire in a research report on Monday, October 16th. ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Stifel Nicolaus raised their price target on shares of Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $74.67.

Shares of Spire (SR) opened at $68.90 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.46 and a current ratio of 0.66. Spire has a 1 year low of $62.33 and a 1 year high of $82.85. The stock has a market cap of $3,327.53, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.70 and a beta of 0.30.

Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.04. The business had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. Spire had a net margin of 9.28% and a return on equity of 8.71%. The company’s revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. equities research analysts anticipate that Spire will post 3.72 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Bruderman Asset Management LLC purchased a new position in shares of Spire during the 2nd quarter valued at $124,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Spire by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after buying an additional 144 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Spire by 11.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after buying an additional 209 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Spire by 30.7% during the 2nd quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after buying an additional 504 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its stake in shares of Spire by 66.5% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock valued at $168,000 after buying an additional 722 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

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About Spire

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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