Morgan Stanley Lowers Spire (NYSE:SR) Price Target to $81.00
Spire (NYSE:SR) had its price target decreased by investment analysts at Morgan Stanley from $83.00 to $81.00 in a report issued on Friday, Stock Target Advisor reports. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 0.77% from the stock’s current price.
A number of other analysts also recently issued reports on SR. Wells Fargo & Co raised their target price on Spire from $89.00 to $90.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. ValuEngine downgraded Spire from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised Spire from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Spire currently has an average rating of “Hold” and an average target price of $84.50.
Shares of SR opened at $80.38 on Friday. Spire has a 52-week low of $70.53 and a 52-week high of $88.00. The company has a market capitalization of $4.19 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.89 and a beta of 0.15. The stock has a fifty day simple moving average of $84.76 and a two-hundred day simple moving average of $84.30. The company has a quick ratio of 0.40, a current ratio of 0.53 and a debt-to-equity ratio of 0.86.
Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Spire by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 27,342 shares of the utilities provider’s stock valued at $2,295,000 after acquiring an additional 125 shares during the period. Texas Permanent School Fund boosted its stake in shares of Spire by 0.4% in the 3rd quarter. Texas Permanent School Fund now owns 34,583 shares of the utilities provider’s stock valued at $3,017,000 after buying an additional 131 shares during the period. 6 Meridian boosted its stake in shares of Spire by 1.9% in the 2nd quarter. 6 Meridian now owns 9,090 shares of the utilities provider’s stock valued at $763,000 after buying an additional 167 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Spire by 8.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,047 shares of the utilities provider’s stock valued at $266,000 after buying an additional 237 shares during the period. Finally, First Mercantile Trust Co. lifted its stake in Spire by 7.5% during the third quarter. First Mercantile Trust Co. now owns 3,536 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 247 shares during the last quarter. 79.10% of the stock is owned by hedge funds and other institutional investors.
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.
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