Analysts Set Spire Inc (SR) Price Target at $75.33
Spire Inc (NYSE:SR) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $75.14.
A number of brokerages have issued reports on SR. Credit Suisse Group upped their price target on shares of Spire from $71.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday. ValuEngine upgraded shares of Spire from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Morgan Stanley cut their price target on shares of Spire from $77.00 to $73.00 and set a “sell” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Spire from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. Finally, JPMorgan Chase & Co. set a $72.00 price target on shares of Spire and gave the company a “sell” rating in a research note on Tuesday, October 9th.
Shares of Spire stock opened at $80.37 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.34 and a debt-to-equity ratio of 0.84. Spire has a 12-month low of $60.08 and a 12-month high of $82.85. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 5.19 and a beta of 0.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th will be paid a $0.5925 dividend. The ex-dividend date is Monday, December 10th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Spire’s previous quarterly dividend of $0.56. Spire’s dividend payout ratio is presently 60.48%.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Spire by 4.2% in the third quarter. BlackRock Inc. now owns 7,332,115 shares of the utilities provider’s stock worth $539,277,000 after acquiring an additional 295,292 shares during the period. Macquarie Group Ltd. increased its stake in shares of Spire by 22.6% in the third quarter. Macquarie Group Ltd. now owns 1,043,788 shares of the utilities provider’s stock worth $76,771,000 after acquiring an additional 192,450 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Spire by 15.8% in the second quarter. Duff & Phelps Investment Management Co. now owns 945,900 shares of the utilities provider’s stock worth $66,828,000 after acquiring an additional 129,345 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Spire by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 930,240 shares of the utilities provider’s stock worth $68,417,000 after acquiring an additional 3,433 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Spire by 30.6% in the third quarter. Cornerstone Wealth Management LLC now owns 893,511 shares of the utilities provider’s stock worth $11,852,000 after acquiring an additional 209,304 shares during the period. Hedge funds and other institutional investors own 82.50% of the company’s stock.
Spire Inc, through its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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