Spire (NYSE:SR) Reaches New 52-Week High - Here's What Happened

Shares of Spire Inc. (NYSE:SR - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $75.12 and last traded at $75.23, with a volume of 134103 shares traded. The stock had previously closed at $73.94.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America started coverage on shares of Spire in a research report on Friday, December 13th. They issued a "neutral" rating and a $70.00 target price for the company. Morgan Stanley reduced their price objective on shares of Spire from $77.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus lowered their target price on Spire from $70.00 to $69.00 and set a "hold" rating on the stock in a research report on Friday, November 22nd. Janney Montgomery Scott started coverage on Spire in a research report on Tuesday, December 17th. They set a "neutral" rating and a $73.00 price target for the company. Finally, StockNews.com downgraded Spire from a "hold" rating to a "sell" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $71.50.

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Spire Price Performance

The company has a market capitalization of $4.41 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.82 and a beta of 0.58. The company has a 50 day moving average price of $69.77 and a 200 day moving average price of $67.68. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share 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%. On average, equities analysts predict that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 11th will be paid a $0.785 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $3.14 annualized dividend and a yield of 4.15%. Spire's dividend payout ratio (DPR) is presently 76.03%.

Insider Buying and Selling at Spire

In other Spire news, Director Paul D. Koonce bought 1,000 shares of Spire stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of $73.61 per share, with a total value of $73,610.00. Following the completion of the transaction, the director now owns 2,425 shares in the company, valued at $178,504.25. The trade was a 70.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Treasurer Adam W. Woodard sold 1,150 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the transaction, the treasurer now directly owns 2,587 shares in the company, valued at approximately $174,544.89. This represents a 30.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.33% of the company's stock.

Hedge Funds Weigh In On Spire

A number of hedge funds have recently added to or reduced their stakes in SR. Creative Planning increased its position in shares of Spire by 2.7% in the third quarter. Creative Planning now owns 7,126 shares of the utilities provider's stock worth $480,000 after purchasing an additional 190 shares during the period. Blue Trust Inc. raised its position 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 valued at $71,000 after buying an additional 296 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Spire by 116.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider's stock worth $1,886,000 after acquiring an additional 15,060 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Spire by 17.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,174 shares of the utilities provider's stock worth $281,000 after acquiring an additional 619 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Spire by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,733 shares of the utilities provider's stock worth $453,000 after acquiring an additional 455 shares in the last quarter. Institutional investors own 87.36% of the company's stock.

About Spire

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.