JPMorgan Chase & Co. set a $72.00 price objective on Spire (NYSE:SR) in a research report released on Tuesday. The firm currently has a sell rating on the utilities provider’s stock.
SR has been the topic of several other reports. Wells Fargo & Co upgraded Spire from a market perform rating to an outperform rating and upped their price target for the company from $73.00 to $74.00 in a research report on Thursday, June 14th. Zacks Investment Research upgraded Spire from a sell rating to a hold rating in a research report on Wednesday, September 26th. Guggenheim reiterated a buy rating and set a $77.00 price target on shares of Spire in a research report on Monday, July 23rd. Morgan Stanley upped their price target on Spire from $69.00 to $75.00 and gave the company an underweight rating in a research report on Monday, July 16th. Finally, ValuEngine upgraded Spire from a sell rating to a hold rating in a research report on Thursday, June 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $75.44.
Shares of SR opened at $71.62 on Tuesday. Spire has a twelve month low of $60.08 and a twelve month high of $82.85. The stock has a market cap of $3.73 billion, a PE ratio of 20.12, a P/E/G ratio of 4.93 and a beta of 0.01. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.88.
Spire (NYSE:SR) last announced its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Spire had a return on equity of 9.36% and a net margin of 11.43%. The firm had revenue of $350.60 million for the quarter, compared to analysts’ expectations of $304.27 million. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Spire will post 3.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th were issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, September 10th. Spire’s payout ratio is 63.20%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Spire by 696.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,888 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 1,651 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of Spire by 3.0% during the second quarter. Federated Investors Inc. PA now owns 248,333 shares of the utilities provider’s stock worth $17,545,000 after purchasing an additional 7,133 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Spire by 311.3% during the second quarter. Citadel Advisors LLC now owns 64,642 shares of the utilities provider’s stock worth $4,566,000 after purchasing an additional 48,926 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Spire during the second quarter worth about $13,085,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Spire by 18.5% during the second quarter. Renaissance Technologies LLC now owns 885,400 shares of the utilities provider’s stock worth $62,554,000 after purchasing an additional 138,100 shares in the last quarter. 82.49% of the stock is owned by institutional investors.
Spire Company Profile
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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