Spire Inc. (NYSE:SR - Get Free Report)'s share price hit a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $75.00 to $78.00. Morgan Stanley currently has an equal weight rating on the stock. Spire traded as high as $78.83 and last traded at $77.92, with a volume of 91954 shares. The stock had previously closed at $76.91.
Other equities analysts have also issued research reports about the company. Janney Montgomery Scott assumed coverage on Spire in a research note on Tuesday, December 17th. They set a "neutral" rating and a $73.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Spire from $73.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, November 21st. Stifel Nicolaus reduced their target price on shares of Spire from $70.00 to $69.00 and set a "hold" rating on the stock in a research note on Friday, November 22nd. Bank of America initiated coverage on shares of Spire in a report on Friday, December 13th. They issued a "neutral" rating and a $70.00 target price on the stock. Finally, StockNews.com upgraded shares of Spire from a "sell" rating to a "hold" rating in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Spire presently has a consensus rating of "Hold" and an average price target of $76.00.
Read Our Latest Report on Spire
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Spire in the 4th quarter valued at $27,000. GAMMA Investing LLC grew its position in Spire by 87.2% in the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 204 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Spire during the fourth quarter worth about $32,000. Larson Financial Group LLC lifted its position in shares of Spire by 1,318.4% during the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider's stock worth $36,000 after purchasing an additional 501 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Spire in the fourth quarter valued at approximately $37,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Spire Stock Up 0.7 %
The business's fifty day moving average is $73.51 and its two-hundred day moving average is $69.28. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.82 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 1.21.
Spire (NYSE:SR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. Equities analysts forecast that Spire Inc. will post 4.5 earnings per share for the current fiscal year.
Spire Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 11th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, March 11th. Spire's payout ratio is presently 76.03%.
About Spire
(
Get Free Report)
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.
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