Spire (NYSE:SR) Stock Rating Lowered by Mizuho

Spire (NYSE:SR) was downgraded by equities research analysts at Mizuho from a “buy” rating to a “neutral” rating in a report issued on Thursday, FinViz reports. They currently have a $62.00 price target on the utilities provider’s stock, down from their previous price target of $64.00. Mizuho’s price target would suggest a potential upside of 0.13% from the company’s current price.

Several other research firms also recently issued reports on SR. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price objective on shares of Spire in a report on Tuesday, April 16th. LADENBURG THALM/SH SH began coverage on Spire in a research note on Friday, April 26th. They set a “neutral” rating and a $57.50 target price for the company. Finally, UBS Group started coverage on Spire in a research note on Friday, April 12th. They issued a “buy” rating and a $68.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.50.

Spire Price Performance

NYSE SR opened at $61.92 on Thursday. The business’s fifty day moving average is $60.14 and its two-hundred day moving average is $60.07. The stock has a market capitalization of $3.40 billion, a P/E ratio of 16.69, a P/E/G ratio of 2.85 and a beta of 0.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.43 and a current ratio of 0.55. Spire has a 1 year low of $53.77 and a 1 year high of $69.99.

Spire (NYSE:SR) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. The company had revenue of $756.60 million during the quarter, compared to the consensus estimate of $688.88 million. Spire had a return on equity of 8.27% and a net margin of 8.11%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. On average, research analysts forecast that Spire will post 4.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Treasurer Adam W. Woodard sold 1,229 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total value of $73,223.82. Following the transaction, the treasurer now owns 1,560 shares of the company’s stock, valued at $92,944.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph B. Hampton sold 1,294 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the transaction, the insider now directly owns 6,768 shares in the company, valued at $393,423.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Adam W. Woodard sold 1,229 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the transaction, the treasurer now owns 1,560 shares of the company’s stock, valued at approximately $92,944.80. The disclosure for this sale can be found here. Company insiders own 2.86% of the company’s stock.

Institutional Investors Weigh In On Spire

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates grew its holdings in Spire by 85.7% during the 3rd quarter. Raymond James & Associates now owns 48,150 shares of the utilities provider’s stock valued at $2,724,000 after purchasing an additional 22,216 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Spire by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,325 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 258 shares during the period. Verdence Capital Advisors LLC raised its position in Spire by 48.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,988 shares of the utilities provider’s stock worth $282,000 after buying an additional 1,630 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Spire by 11.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,553 shares of the utilities provider’s stock valued at $541,000 after buying an additional 1,018 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in Spire by 8.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 6,867 shares of the utilities provider’s stock worth $389,000 after purchasing an additional 541 shares in the last quarter. 87.36% of the stock is owned by 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.