Spire Inc (SR) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Spire Inc (NYSE:SR) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $75.57.
A number of equities analysts recently commented on SR shares. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Tuesday, January 1st. Guggenheim downgraded shares of Spire from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded shares of Spire from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $74.00 to $72.00 in a research note on Wednesday, January 23rd. They noted that the move was a valuation call.
Several hedge funds have recently modified their holdings of SR. Bank of New York Mellon Corp boosted its stake in Spire by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 736,470 shares of the utilities provider’s stock valued at $54,167,000 after acquiring an additional 26,597 shares in the last quarter. Martingale Asset Management L P boosted its stake in Spire by 2.3% in the third quarter. Martingale Asset Management L P now owns 84,412 shares of the utilities provider’s stock valued at $6,209,000 after acquiring an additional 1,901 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Spire by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 930,240 shares of the utilities provider’s stock valued at $68,417,000 after acquiring an additional 3,433 shares in the last quarter. Jane Street Group LLC acquired a new position in Spire in the third quarter valued at $270,000. Finally, BlueMountain Capital Management LLC acquired a new position in Spire in the third quarter valued at $517,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). Spire had a return on equity of 8.52% and a net margin of 8.25%. The company had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $602.54 million. During the same period in the prior year, the company posted $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts predict that Spire will post 3.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 11th were paid a dividend of $0.5925 per share. The ex-dividend date was Friday, March 8th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.88%. Spire’s payout ratio is currently 63.71%.
Spire Company Profile
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 in the United States. The company operates through two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
Read More: What is intrinsic value?
Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.