Brokerages Set Spire Inc. (NYSE:SR) PT at $71.50

Spire Inc. (NYSE:SR) has been assigned an average rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $71.50.

SR has been the subject of several research analyst reports. LADENBURG THALM/SH SH downgraded shares of Spire from a “neutral” rating to a “sell” rating and reduced their price target for the company from $65.50 to $60.50 in a research report on Thursday, October 17th. Bank of America began coverage on Spire in a report on Friday, December 13th. They set a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley reduced their price objective on Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus lowered their target price on Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, November 22nd. Finally, Mizuho upgraded shares of Spire from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $65.00 to $76.00 in a report on Friday, December 20th.

Insider Buying and Selling at Spire

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $67.47, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul D. Koonce acquired 1,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were purchased at an average price of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the transaction, the director now owns 2,425 shares of the company’s stock, valued at $178,504.25. This trade represents a 70.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Spire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new position in Spire in the third quarter valued at approximately $39,228,000. Assenagon Asset Management S.A. bought a new stake in shares of Spire during the fourth quarter worth $8,277,000. AQR Capital Management LLC raised its stake in shares of Spire by 290.9% in the 2nd quarter. AQR Capital Management LLC now owns 130,827 shares of the utilities provider’s stock valued at $7,877,000 after purchasing an additional 97,358 shares during the period. Dimensional Fund Advisors LP boosted its position in Spire by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,387 shares of the utilities provider’s stock worth $57,351,000 after acquiring an additional 72,119 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Spire by 5.5% in the third quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider’s stock valued at $93,244,000 after purchasing an additional 71,798 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Spire Price Performance

SR stock opened at $69.72 on Tuesday. Spire has a one year low of $56.36 and a one year high of $73.64. The firm has a 50-day moving average of $68.60 and a two-hundred day moving average of $66.31. The firm has a market capitalization of $4.03 billion, a PE ratio of 16.18, a P/E/G ratio of 2.50 and a beta of 0.57. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.24.

Spire Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Wednesday, December 11th were given a dividend of $3.14 per share. This represents a $12.56 annualized dividend and a dividend yield of 18.02%. The ex-dividend date was Wednesday, December 11th. This is a boost from Spire’s previous quarterly dividend of $0.76. Spire’s payout ratio is currently 72.85%.

About Spire

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.