Spire Inc. (SR) Reaches New 1-Year High at $77.05
Shares of Spire Inc. (NYSE:SR) reached a new 52-week high on Tuesday . The company traded as high as $77.05 and last traded at $77.00, with a volume of 34,254 shares changing hands. The stock had previously closed at $76.50.
A number of analysts have recently weighed in on SR shares. Morgan Stanley raised their price target on shares of Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday, July 12th. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Spire presently has an average rating of “Hold” and a consensus target price of $71.83.
The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 22.09 and a beta of 0.33. The firm’s 50 day moving average price is $73.00 and its 200-day moving average price is $69.41.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The company had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. During the same period in the previous year, the business earned $0.33 EPS. Spire’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts predict that Spire Inc. will post $3.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.10 annualized dividend and a yield of 2.75%. Spire’s dividend payout ratio is presently 60.17%.
A number of large investors have recently bought and sold shares of SR. Phocas Financial Corp. increased its stake in Spire by 4.7% in the second quarter. Phocas Financial Corp. now owns 114,735 shares of the utilities provider’s stock valued at $8,003,000 after buying an additional 5,181 shares in the last quarter. Archford Capital Strategies LLC increased its stake in Spire by 66.5% in the second quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock valued at $168,000 after buying an additional 722 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Spire by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after buying an additional 209 shares in the last quarter. Verition Fund Management LLC increased its stake in Spire by 12.5% in the second quarter. Verition Fund Management LLC now owns 53,995 shares of the utilities provider’s stock valued at $3,766,000 after buying an additional 5,995 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in Spire during the second quarter valued at about $728,000. Institutional investors own 78.59% of the company’s stock.
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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.