The Laclede Group Inc. (SR) Sees Large Volume Increase
The Laclede Group Inc. (NYSE:SR) shares saw an uptick in trading volume on Thursday . 335,391 shares traded hands during trading, an increase of 81% from the previous session’s volume of 185,585 shares.The stock last traded at $64.00 and had previously closed at $64.70.
Several brokerages have recently issued reports on SR. Zacks Investment Research cut shares of The Laclede Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Ladenburg Thalmann began coverage on shares of The Laclede Group in a research report on Friday, August 19th. They set a “neutral” rating and a $69.00 price target on the stock. Finally, TheStreet raised shares of The Laclede Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company’s stock. The Laclede Group has a consensus rating of “Hold” and a consensus target price of $67.00.
The firm’s 50 day moving average is $67.48 and its 200 day moving average is $66.46. The stock has a market cap of $2.96 billion and a PE ratio of 20.35.
The Laclede Group (NYSE:SR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06. The business earned $249.30 million during the quarter, compared to analysts’ expectations of $290.50 million. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Equities analysts forecast that The Laclede Group Inc. will post $3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Monday, September 12th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, September 8th.
Spire Inc, formerly The Laclede Group, Inc is a public utility holding company for Laclede Gas Company (Laclede Gas or the Missouri Utilities). It operates through two segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation (Alagasco or the Alabama Utility) (collectively, the Utilities).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.