Spire Inc. (NYSE:SR)‘s stock had its “hold” rating restated by stock analysts at Royal Bank Of Canada in a research note issued to investors on Monday, October 16th. They currently have a $73.00 target price on the utilities provider’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 6.53% from the company’s previous close.
Several other brokerages also recently weighed in on SR. Morgan Stanley raised their target price on Spire from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. JPMorgan Chase & Co. raised their target price on Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $71.00 price target on shares of Spire in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.57.
Shares of Spire (NYSE:SR) opened at 78.10 on Monday. The firm’s 50-day moving average price is $75.87 and its 200-day moving average price is $72.70. The stock has a market capitalization of $3.77 billion, a P/E ratio of 22.57 and a beta of 0.32. Spire has a one year low of $59.70 and a one year high of $78.45.
Spire (NYSE:SR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $323.50 million during the quarter, compared to the consensus estimate of $293.99 million. Spire had a return on equity of 8.77% and a net margin of 9.12%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Equities research analysts anticipate that Spire will post $3.57 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of SR. UBS Asset Management Americas Inc. lifted its position in shares of Spire by 65.7% during the first quarter. UBS Asset Management Americas Inc. now owns 37,182 shares of the utilities provider’s stock worth $2,510,000 after purchasing an additional 14,738 shares during the last quarter. Stifel Financial Corp lifted its holdings in Spire by 8.2% in the first quarter. Stifel Financial Corp now owns 14,827 shares of the utilities provider’s stock worth $998,000 after acquiring an additional 1,124 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Spire by 25.1% in the first quarter. OppenheimerFunds Inc. now owns 19,109 shares of the utilities provider’s stock worth $1,290,000 after acquiring an additional 3,833 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Spire by 2.4% in the first quarter. Teachers Advisors LLC now owns 82,235 shares of the utilities provider’s stock worth $5,551,000 after acquiring an additional 1,907 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Spire by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 22,816 shares of the utilities provider’s stock worth $1,540,000 after acquiring an additional 1,524 shares during the last quarter. 79.37% of the stock is currently owned by institutional investors and hedge funds.
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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