Royal Bank of Canada Raises Spire (NYSE:SR) Price Target to $75.00

Spire (NYSE:SRGet Rating) had its price objective increased by Royal Bank of Canada from $69.00 to $75.00 in a research note published on Monday morning, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the utilities provider’s stock.

A number of other research firms have also recently issued reports on SR. Morgan Stanley lifted their price target on shares of Spire to $73.00 in a research note on Wednesday, November 16th. Wells Fargo & Company dropped their price target on shares of Spire from $78.00 to $71.00 and set an equal weight rating on the stock in a research note on Wednesday, October 19th. Mizuho dropped their price target on shares of Spire from $77.00 to $72.00 and set a neutral rating on the stock in a research note on Friday, November 18th. TheStreet lowered Spire from a b- rating to a c+ rating in a report on Monday, September 26th. Finally, JPMorgan Chase & Co. upgraded Spire from a neutral rating to an overweight rating and raised their price objective for the company from $74.00 to $78.00 in a report on Friday, September 9th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Spire currently has an average rating of Hold and an average target price of $73.33.

Spire Price Performance

Spire stock opened at $73.66 on Monday. The company’s fifty day moving average price is $67.44 and its 200 day moving average price is $71.48. Spire has a 1 year low of $59.60 and a 1 year high of $79.24. The stock has a market capitalization of $3.87 billion, a P/E ratio of 18.51, a P/E/G ratio of 3.35 and a beta of 0.39. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.50 and a current ratio of 0.68.

Spire Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Monday, December 12th will be issued a $0.14 dividend. The ex-dividend date is Friday, December 9th. This represents a $0.56 annualized dividend and a yield of 0.76%. Spire’s dividend payout ratio (DPR) is currently 68.84%.

Institutional Trading of Spire

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wipfli Financial Advisors LLC acquired a new position in Spire in the 3rd quarter valued at about $30,000. Private Trust Co. NA acquired a new position in Spire in the 3rd quarter valued at about $32,000. Quadrant Capital Group LLC grew its position in Spire by 47.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 581 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 186 shares in the last quarter. Cohen & Steers Inc. grew its position in Spire by 31.8% in the 1st quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 154 shares in the last quarter. Finally, Cowa LLC acquired a new position in Spire in the 3rd quarter valued at about $75,000. 95.64% of the stock is currently owned by hedge funds and other institutional investors.

Spire Company Profile

(Get Rating)

Spire Inc, together with 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 the marketing of natural gas.

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