Spire (NYSE:SR) had its price objective cut by Morgan Stanley from $72.00 to $65.00 in a research report report published on Tuesday morning. They currently have an underweight rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. Hilliard Lyons raised Spire to a buy rating in a report on Friday, February 2nd. Zacks Investment Research raised Spire from a hold rating to a buy rating and set a $80.00 target price on the stock in a report on Wednesday, January 10th. ValuEngine downgraded Spire from a buy rating to a hold rating in a report on Friday, December 1st. Stifel Nicolaus boosted their target price on Spire from $71.00 to $75.00 and gave the stock a hold rating in a report on Thursday, November 16th. Finally, Royal Bank of Canada reissued a hold rating and issued a $73.00 target price on shares of Spire in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Spire currently has a consensus rating of Hold and an average price target of $69.60.

Shares of Spire (NYSE:SR) opened at $65.05 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Spire has a 1-year low of $60.08 and a 1-year high of $82.85. The company has a market capitalization of $3,140.00, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 3.93 and a beta of 0.16.

Spire (NYSE:SR) last released its earnings results on Thursday, February 1st. The utilities provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.13. Spire had a return on equity of 8.91% and a net margin of 12.86%. The business had revenue of $561.80 million for the quarter, compared to the consensus estimate of $516.16 million. During the same period in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. sell-side analysts anticipate that Spire will post 3.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 12th will be issued a dividend of $0.563 per share. This is an increase from Spire’s previous quarterly dividend of $0.56. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, March 9th. Spire’s dividend payout ratio is presently 45.64%.

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings 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 purchasing an additional 209 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Spire by 30.7% during the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 504 shares in the last quarter. Archford Capital Strategies LLC increased its position in 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 acquiring an additional 722 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in Spire during the third quarter valued at $201,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in Spire during the third quarter valued at $209,000. 80.18% of the stock is currently owned by hedge funds and other institutional investors.

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About Spire

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.

Analyst Recommendations for Spire (NYSE:SR)

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