Spire (NYSE:SR) Stock Price Expected to Rise, Mizuho Analyst Says

Spire (NYSE:SR) had its price target increased by Mizuho from $76.00 to $82.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH raised shares of Spire to a “strong-buy” rating in a report on Monday. StockNews.com raised shares of Spire from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reduced their price target on shares of Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday, November 22nd. Bank of America assumed coverage on Spire in a report on Friday, December 13th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company lifted 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. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.67.

Spire Trading Up 0.9 %

SR opened at $76.99 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.50 and a quick ratio of 0.37. The company’s 50 day simple moving average is $72.88 and its two-hundred day simple moving average is $69.03. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.82 and a beta of 0.53. Spire has a 1-year low of $57.27 and a 1-year high of $78.80.

Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, February 5th. The utilities provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. Analysts expect that Spire will post 4.5 EPS for the current fiscal year.

Spire Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 11th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.14 annualized dividend and a dividend yield of 4.08%. Spire’s dividend payout ratio is presently 76.03%.

Hedge Funds Weigh In On Spire

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Spire by 5.5% during the third quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider’s stock worth $93,244,000 after purchasing an additional 71,798 shares in the last quarter. Cynosure Group LLC purchased a new position in Spire in the 3rd quarter valued at approximately $4,067,000. Intech Investment Management LLC acquired a new position in shares of Spire in the third quarter worth $790,000. Charles Schwab Investment Management Inc. raised its stake in shares of Spire by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 805,932 shares of the utilities provider’s stock valued at $54,231,000 after acquiring an additional 36,214 shares in the last quarter. Finally, KBC Group NV raised its position in Spire by 48.2% in the 4th quarter. KBC Group NV now owns 2,307 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 750 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.