Spire Inc. (SR) Hits New 52-Week High on Analyst Upgrade

Spire Inc. (NYSE:SR) hit a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $68.00 to $73.00. Morgan Stanley currently has an underweight rating on the stock. Spire traded as high as $76.10 and last traded at $76.10, with a volume of 55,720 shares trading hands. The stock had previously closed at $75.35.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Spire from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $73.00 price target on shares of Spire in a research note on Wednesday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $71.00 price target on shares of Spire in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.43.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mosaic Family Wealth LLC increased its position in Spire by 0.3% in the second quarter. Mosaic Family Wealth LLC now owns 4,890 shares of the utilities provider’s stock valued at $341,000 after buying an additional 17 shares in the last quarter. Teacher Retirement System of Texas increased its position in Spire by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 11,042 shares of the utilities provider’s stock valued at $770,000 after buying an additional 35 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Spire by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,078 shares of the utilities provider’s stock valued at $284,000 after buying an additional 69 shares in the last quarter. State of Alaska Department of Revenue increased its position in Spire by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,070 shares of the utilities provider’s stock valued at $342,000 after buying an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Spire by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after buying an additional 144 shares in the last quarter. 74.68% of the stock is currently owned by institutional investors.

The company has a 50-day moving average of $71.68 and a 200-day moving average of $68.70. The company has a market cap of $3.62 billion, a P/E ratio of 21.68 and a beta of 0.33.

Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The company had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, analysts forecast that Spire Inc. will post $3.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.10 dividend on an annualized basis and a yield of 2.80%. Spire’s dividend payout ratio (DPR) is presently 60.17%.

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Spire Company Profile

Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.

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