Spire Inc (NYSE:SR) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $67.80.
Several research firms have commented on SR. JPMorgan Chase & Co. cut their price objective on Spire from $77.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, January 25th. Stifel Nicolaus reissued a “hold” rating and issued a $65.00 price objective on shares of Spire in a research report on Friday, February 2nd. Morgan Stanley raised their price objective on Spire from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Thursday, March 8th. Credit Suisse Group raised Spire from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $68.25 to $68.00 in a research report on Monday, February 26th. Finally, Zacks Investment Research lowered Spire from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th.
Shares of Spire (NYSE SR) traded up $0.45 on Friday, hitting $68.70. The company had a trading volume of 59,478 shares, compared to its average volume of 335,874. The company has a quick ratio of 0.53, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock has a market cap of $3,304.32, a price-to-earnings ratio of 18.03, a P/E/G ratio of 4.06 and a beta of 0.14. Spire has a twelve month low of $60.08 and a twelve month high of $82.85.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 12th will be given a $0.563 dividend. The ex-dividend date of this dividend is Friday, March 9th. This is a positive change from Spire’s previous quarterly dividend of $0.56. This represents a $2.25 annualized dividend and a yield of 3.28%. Spire’s dividend payout ratio (DPR) is 45.73%.
Several hedge funds and other institutional investors have recently made changes to their positions in SR. Robeco Institutional Asset Management B.V. increased its position in shares of Spire by 64.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 718,674 shares of the utilities provider’s stock worth $54,051,000 after acquiring an additional 282,725 shares during the last quarter. BlackRock Inc. grew its stake in Spire by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,273,333 shares of the utilities provider’s stock worth $471,441,000 after purchasing an additional 200,037 shares in the last quarter. Renaissance Technologies LLC grew its stake in Spire by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 707,700 shares of the utilities provider’s stock worth $53,184,000 after purchasing an additional 117,700 shares in the last quarter. Nordea Investment Management AB grew its stake in Spire by 132.6% in the third quarter. Nordea Investment Management AB now owns 136,605 shares of the utilities provider’s stock worth $10,198,000 after purchasing an additional 77,879 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Spire by 7.4% in the third quarter. Wells Fargo & Company MN now owns 1,059,918 shares of the utilities provider’s stock worth $79,123,000 after purchasing an additional 73,219 shares in the last quarter. 82.90% of the stock is currently owned by institutional investors and hedge funds.
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Spire Company Profile
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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