Morgan Stanley set a $80.00 price target on Spire (NYSE:SR) in a research report released on Thursday, TipRanks reports. The brokerage currently has a sell rating on the utilities provider’s stock.
A number of other equities analysts also recently issued reports on SR. Zacks Investment Research downgraded Spire from a buy rating to a hold rating in a research report on Friday, May 10th. Wells Fargo & Co upped their price target on Spire from $85.00 to $92.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Finally, Credit Suisse Group set a $75.00 price target on Spire and gave the stock a sell rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $80.71.
Shares of SR stock traded up $0.16 during trading hours on Thursday, reaching $86.11. 743,400 shares of the company’s stock were exchanged, compared to its average volume of 361,678. The company has a market cap of $4.31 billion, a PE ratio of 23.15, a PEG ratio of 6.01 and a beta of 0.23. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.85. Spire has a fifty-two week low of $64.95 and a fifty-two week high of $87.13.
Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.27. The business had revenue of $803.50 million for the quarter, compared to the consensus estimate of $795.74 million. Spire had a return on equity of 8.05% and a net margin of 11.12%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.83 earnings per share. On average, equities analysts forecast that Spire will post 3.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Monday, June 10th. Spire’s dividend payout ratio (DPR) is presently 63.71%.
Several institutional investors and hedge funds have recently made changes to their positions in SR. JOYN Advisors Inc. grew its holdings in shares of Spire by 115.3% during the fourth quarter. JOYN Advisors Inc. now owns 407 shares of the utilities provider’s stock valued at $30,000 after buying an additional 218 shares during the last quarter. Resources Investment Advisors Inc. purchased a new stake in shares of Spire during the fourth quarter valued at $37,000. Parkside Financial Bank & Trust grew its holdings in shares of Spire by 90.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 593 shares of the utilities provider’s stock valued at $44,000 after buying an additional 281 shares during the last quarter. Clarus Wealth Advisors purchased a new stake in shares of Spire during the fourth quarter valued at $44,000. Finally, Fort L.P. purchased a new stake in shares of Spire during the first quarter valued at $54,000. 82.30% of the stock is currently owned by hedge funds and other institutional investors.
Spire Inc, through 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 two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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