StockNews.com Lowers Spire (NYSE:SR) to Sell

StockNews.com lowered shares of Spire (NYSE:SRGet Rating) from a hold rating to a sell rating in a report published on Monday morning.

SR has been the subject of a number of other reports. Wells Fargo & Company boosted their target price on shares of Spire from $77.00 to $78.00 and gave the stock an equal weight rating in a research note on Monday, August 8th. Morgan Stanley boosted their target price on shares of Spire from $77.00 to $80.00 and gave the stock an equal weight rating in a research note on Tuesday, August 23rd. Finally, Mizuho boosted their target price on shares of Spire from $74.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, May 25th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, Spire presently has a consensus rating of Hold and a consensus target price of $72.33.

Spire Price Performance

NYSE:SR opened at $69.89 on Monday. The firm has a market cap of $3.67 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.71 and a beta of 0.29. Spire has a 12 month low of $59.60 and a 12 month high of $79.24. The company has a quick ratio of 0.55, a current ratio of 0.72 and a debt-to-equity ratio of 1.23. The company’s 50-day moving average price is $73.18 and its two-hundred day moving average price is $72.61.

Spire (NYSE:SRGet Rating) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $448.00 million for the quarter, compared to analyst estimates of $323.58 million. Spire had a net margin of 10.02% and a return on equity of 9.34%. The company’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities analysts anticipate that Spire will post 3.91 EPS for the current fiscal year.

Spire Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Monday, September 12th will be paid a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Friday, September 9th. Spire’s dividend payout ratio (DPR) is 69.90%.

Institutional Investors Weigh In On Spire

Several large investors have recently bought and sold shares of SR. Quadrant Capital Group LLC boosted its holdings in shares of Spire by 47.1% in the second quarter. Quadrant Capital Group LLC now owns 581 shares of the utilities provider’s stock valued at $43,000 after buying an additional 186 shares during the period. Cohen & Steers Inc. boosted its holdings in shares of Spire by 31.8% in the first quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock valued at $46,000 after buying an additional 154 shares during the period. Guardian Wealth Management Inc. acquired a new position in shares of Spire in the fourth quarter valued at approximately $65,000. MBM Wealth Consultants LLC boosted its holdings in shares of Spire by 125.7% in the first quarter. MBM Wealth Consultants LLC now owns 1,072 shares of the utilities provider’s stock valued at $77,000 after buying an additional 597 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in Spire during the first quarter worth $84,000. Institutional investors own 95.64% of the company’s stock.

Spire Company Profile

(Get Rating)

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 in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.

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