Spire (NYSE:SR) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Spire (NYSE:SR) from a hold rating to a sell rating in a research note issued to investors on Friday.

SR has been the topic of a number of other research reports. Wells Fargo & Company boosted their target price on Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. LADENBURG THALM/SH SH lowered Spire from a “neutral” rating to a “sell” rating and cut their target price for the company from $65.50 to $60.50 in a research report on Thursday, October 17th. Morgan Stanley dropped their price target on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Janney Montgomery Scott assumed coverage on shares of Spire in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price target for the company. Finally, Bank of America assumed coverage on shares of Spire in a research note on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Spire presently has a consensus rating of “Hold” and an average target price of $71.50.

Spire Stock Up 0.2 %

Shares of NYSE SR opened at $68.56 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 3.00 and a beta of 0.57. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Spire has a 52-week low of $56.36 and a 52-week high of $73.64. The business’s 50 day moving average is $67.86 and its two-hundred day moving average is $65.65.

Spire Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Wednesday, December 11th were paid a dividend of $3.14 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $12.56 dividend on an annualized basis and a dividend yield of 18.32%. This is an increase from Spire’s previous quarterly dividend of $0.76. Spire’s payout ratio is presently 72.85%.

Insider Buying and Selling

In related news, Director Paul D. Koonce acquired 1,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was bought at an average price of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the purchase, the director now directly owns 2,425 shares of the company’s stock, valued at approximately $178,504.25. The trade was a 70.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Adam W. Woodard sold 1,150 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $67.47, for a total transaction of $77,590.50. Following the completion of the transaction, the treasurer now owns 2,587 shares of the company’s stock, valued at $174,544.89. This represents a 30.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Spire

Several large investors have recently bought and sold shares of SR. Meeder Asset Management Inc. acquired a new position in Spire in the third quarter valued at $25,000. GAMMA Investing LLC boosted its stake in Spire by 87.2% in the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 204 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Spire in the second quarter valued at $31,000. Larson Financial Group LLC boosted its stake in Spire by 1,318.4% in the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 501 shares in the last quarter. Finally, Missouri Trust & Investment Co boosted its stake in Spire by 28.6% in the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.