Spire (NYSE:SR) Price Target Raised to $73.00

Spire (NYSE:SR) had its target price boosted by Wells Fargo & Company from $72.00 to $73.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other research analysts have also issued reports on SR. Stifel Nicolaus raised their target price on shares of Spire from $64.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley raised their price target on Spire from $70.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.19.

Spire Price Performance

Shares of NYSE:SR opened at $65.25 on Wednesday. The stock has a market capitalization of $3.77 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.84 and a beta of 0.52. The business has a 50-day moving average of $65.54 and a two-hundred day moving average of $62.90. Spire has a fifty-two week low of $54.15 and a fifty-two week high of $68.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.48 and a quick ratio of 0.35.

Spire (NYSE:SR) last posted its earnings results on Wednesday, July 31st. The utilities provider reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.04. Spire had a return on equity of 8.10% and a net margin of 9.40%. The firm had revenue of $414.10 million during the quarter, compared to analyst estimates of $313.86 million. During the same period in the previous year, the company earned ($0.42) EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Spire will post 4.23 EPS for the current fiscal year.

Spire Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th were given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Wednesday, September 11th. Spire’s dividend payout ratio is currently 76.26%.

Insider Activity at Spire

In related news, VP Gerard J. Gorla sold 500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $64.82, for a total transaction of $32,410.00. Following the transaction, the vice president now directly owns 7,311 shares in the company, valued at $473,899.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Maria V. Fogarty sold 6,590 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $65.15, for a total transaction of $429,338.50. Following the completion of the transaction, the director now directly owns 9,800 shares of the company’s stock, valued at approximately $638,470. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gerard J. Gorla sold 500 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $64.82, for a total transaction of $32,410.00. Following the completion of the sale, the vice president now directly owns 7,311 shares in the company, valued at approximately $473,899.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Spire

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Spire in the 2nd quarter worth approximately $31,000. LRI Investments LLC bought a new position in shares of Spire during the first quarter valued at $35,000. Fidelis Capital Partners LLC acquired a new stake in shares of Spire in the 1st quarter valued at $37,000. EntryPoint Capital LLC bought a new stake in shares of Spire in the 1st quarter worth about $47,000. Finally, Blue Trust Inc. grew its holdings in shares of Spire by 26.8% in the 2nd quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 161 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Spire Company Profile

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.