Mizuho downgraded shares of Spire (NYSE:SR) from a buy rating to a neutral rating in a research note published on Wednesday morning, PriceTargets.com reports. Mizuho currently has $68.00 price objective on the utilities provider’s stock.
A number of other research analysts have also issued reports on the company. Morgan Stanley decreased their target price on Spire from $65.00 to $61.00 and set an equal weight rating on the stock in a research report on Tuesday, December 21st. TheStreet lowered Spire from a b rating to a c+ rating in a research report on Tuesday, September 7th. Wells Fargo & Company decreased their price objective on Spire from $78.00 to $67.00 and set an equal weight rating on the stock in a report on Monday, November 22nd. Bank of America lowered Spire from a neutral rating to an underperform rating and decreased their price objective for the company from $63.00 to $58.00 in a report on Tuesday, November 23rd. Finally, JPMorgan Chase & Co. lowered Spire from an overweight rating to a neutral rating and decreased their price objective for the company from $76.00 to $70.00 in a report on Tuesday, November 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $72.33.
Shares of NYSE SR opened at $66.49 on Wednesday. Spire has a 12 month low of $59.29 and a 12 month high of $77.95. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 3.13 and a beta of 0.33. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.63. The firm’s 50 day simple moving average is $63.22 and its 200-day simple moving average is $66.58.
Spire (NYSE:SR) last announced its earnings results on Monday, November 22nd. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.37. Spire had a return on equity of 10.81% and a net margin of 11.98%. The firm had revenue of $290.20 million for the quarter, compared to analyst estimates of $254.89 million. During the same quarter last year, the firm posted ($0.37) EPS. The business’s revenue was up 15.2% on a year-over-year basis. Analysts anticipate that Spire will post 3.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 4th. Stockholders of record on Friday, December 10th were issued a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Thursday, December 9th. This is a positive change from Spire’s previous quarterly dividend of $0.65. Spire’s payout ratio is currently 55.13%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust purchased a new position in shares of Spire during the 3rd quarter worth $29,000. Moors & Cabot Inc. acquired a new stake in shares of Spire during the 3rd quarter worth about $41,000. Parallel Advisors LLC increased its position in shares of Spire by 37.6% during the 2nd quarter. Parallel Advisors LLC now owns 622 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 170 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Spire during the 3rd quarter worth about $56,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Spire during the 2nd quarter worth about $74,000. Institutional investors and hedge funds own 83.15% of the company’s stock.
Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the following business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.
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