Spire’s (SR) “Hold” Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reiterated their hold rating on shares of Spire Inc. (NYSE:SR) in a report published on Monday. Royal Bank Of Canada currently has a $73.00 target price on the utilities provider’s stock.
A number of other research firms also recently commented on SR. Stifel Nicolaus reissued a hold rating and set a $71.00 price objective on shares of Spire in a report on Thursday, August 3rd. J P Morgan Chase & Co upped their price target on shares of Spire from $71.00 to $75.00 and gave the company an underweight rating in a report on Thursday, October 12th. Zacks Investment Research raised 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. Finally, Morgan Stanley upped their price target on shares of Spire from $73.00 to $75.00 and gave the company an underweight rating in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $73.57.
Spire (SR) opened at 77.05 on Monday. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 22.26 and a beta of 0.32. Spire has a 52 week low of $59.70 and a 52 week high of $78.00. The company has a 50-day moving average of $75.75 and a 200-day moving average of $72.37.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $323.50 million for the quarter, compared to the consensus estimate of $293.99 million. Spire had a net margin of 9.12% and a return on equity of 8.77%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Analysts anticipate that Spire will post $3.57 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, September 8th. Spire’s dividend payout ratio (DPR) is presently 60.17%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bruderman Asset Management LLC purchased a new position in shares of Spire during the second quarter valued at approximately $124,000. LS Investment Advisors LLC lifted its stake in shares of Spire by 13.0% during the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock valued at $125,000 after buying an additional 206 shares during the period. Archford Capital Strategies LLC lifted its stake in shares of Spire by 66.5% during 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Spire by 8.6% during 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 during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Spire by 11.2% during 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 during the period. 78.87% of the stock is currently owned by institutional investors.
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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