Spire (NYSE:SR) Downgraded to "Sell" Rating by StockNews.com

Spire (NYSE:SR - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently issued reports on SR. Janney Montgomery Scott assumed coverage on Spire in a research note on Tuesday, December 17th. They set a "neutral" rating and a $73.00 target price on the stock. Bank of America started coverage on Spire in a research note on Friday, December 13th. They issued a "neutral" rating and a $70.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Spire from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 21st. LADENBURG THALM/SH SH downgraded Spire from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $65.50 to $60.50 in a research note on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price objective on Spire from $70.00 to $69.00 and set a "hold" rating on the stock in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $71.50.

Spire Price Performance

SR traded up $0.58 on Friday, hitting $73.95. 899,721 shares of the company's stock traded hands, compared to its average volume of 368,419. The company's 50 day simple moving average is $69.13 and its 200-day simple moving average is $67.32. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.76 and a beta of 0.58. Spire has a one year low of $57.27 and a one year high of $74.50. The company has a current ratio of 0.50, a quick ratio of 0.30 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a net margin of 9.70% and a return on equity of 7.88%. As a group, research analysts anticipate that Spire will post 4.51 EPS for the current year.

Insider Transactions at Spire

In related news, Treasurer Adam W. Woodard sold 1,150 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the completion of the transaction, the treasurer now owns 2,587 shares in the company, valued at $174,544.89. The trade was a 30.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Koonce acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average price of $73.61 per share, with a total value of $73,610.00. Following the acquisition, the director now owns 2,425 shares in the company, valued at $178,504.25. This trade represents a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.33% of the company's stock.

Hedge Funds Weigh In On Spire

A number of large investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Spire by 2.7% in the 3rd quarter. Creative Planning now owns 7,126 shares of the utilities provider's stock worth $480,000 after buying an additional 190 shares during the period. Cardinal Capital Management lifted its holdings in shares of Spire by 11.1% in the 3rd quarter. Cardinal Capital Management now owns 36,412 shares of the utilities provider's stock worth $2,477,000 after buying an additional 3,639 shares during the period. Inspire Advisors LLC lifted its holdings in shares of Spire by 21.6% in the 3rd quarter. Inspire Advisors LLC now owns 28,936 shares of the utilities provider's stock worth $1,947,000 after buying an additional 5,140 shares during the period. Blue Trust Inc. lifted its holdings in shares of Spire by 38.9% in the 3rd quarter. Blue Trust Inc. now owns 1,057 shares of the utilities provider's stock worth $71,000 after buying an additional 296 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Spire by 116.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider's stock worth $1,886,000 after buying an additional 15,060 shares during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Spire Company Profile

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.