Spire (SR) PT Lowered to $65.00

Spire (NYSE:SR) had its price objective cut by stock analysts at Morgan Stanley from $72.00 to $65.00 in a research note issued on Tuesday. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 1.22% from the stock’s current price.

A number of other research analysts have also recently issued reports on SR. Royal Bank of Canada reaffirmed a “hold” rating and set a $73.00 price objective on shares of Spire in a research note on Monday, October 16th. Stifel Nicolaus raised their price objective on Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. ValuEngine cut Spire from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research cut Spire from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Spire from $77.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Spire has a consensus rating of “Hold” and a consensus target price of $69.60.

Spire (NYSE:SR) opened at $65.80 on Tuesday. Spire has a 12 month low of $60.08 and a 12 month high of $82.85. The stock has a market capitalization of $3,176.21, a PE ratio of 13.37, a PEG ratio of 3.93 and a beta of 0.15. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.53 and a current ratio of 0.70.

Spire (NYSE:SR) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.13. Spire had a return on equity of 8.91% and a net margin of 12.86%. The firm had revenue of $561.80 million for the quarter, compared to analysts’ expectations of $516.16 million. During the same period last year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. sell-side analysts anticipate that Spire will post 3.72 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Spire by 5.7% in the second quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock worth $86,214,000 after purchasing an additional 67,106 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Spire by 11.6% in the third quarter. Pacer Advisors Inc. now owns 6,967 shares of the utilities provider’s stock worth $520,000 after purchasing an additional 725 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Spire by 13.1% in the third quarter. Allianz Asset Management GmbH now owns 31,580 shares of the utilities provider’s stock worth $2,358,000 after purchasing an additional 3,655 shares during the last quarter. CAPROCK Group Inc. bought a new stake in shares of Spire in the third quarter worth about $201,000. Finally, Wells Fargo & Company MN grew its stake in shares of 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 during the last quarter. 80.18% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Spire (NYSE:SR)

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