Spire (SR) Reaches New 1-Year High at $86.88

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Spire Inc (NYSE:SR) hit a new 52-week high on Friday . The stock traded as high as $86.88 and last traded at $86.85, with a volume of 7622 shares. The stock had previously closed at $85.95.

Several brokerages have weighed in on SR. Zacks Investment Research downgraded Spire from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Co raised their price target on Spire from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Credit Suisse Group set a $75.00 price target on Spire and gave the stock a “sell” rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Spire has a consensus rating of “Hold” and an average target price of $79.71.

The company has a market capitalization of $4.31 billion, a PE ratio of 23.27, a PEG ratio of 6.01 and a beta of 0.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.59 and a quick ratio of 0.50.

Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.27. Spire had a return on equity of 8.05% and a net margin of 11.12%. The firm had revenue of $803.50 million during the quarter, compared to analysts’ expectations of $795.74 million. During the same period last year, the business posted $2.83 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts forecast that Spire Inc will post 3.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, June 10th. Spire’s payout ratio is 63.71%.

A number of hedge funds have recently made changes to their positions in SR. Jane Street Group LLC purchased a new position in Spire during the third quarter valued at approximately $270,000. Morgan Stanley increased its position in shares of Spire by 1.2% in the third quarter. Morgan Stanley now owns 373,551 shares of the utilities provider’s stock valued at $27,475,000 after buying an additional 4,313 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Spire by 3.7% in the third quarter. Federated Investors Inc. PA now owns 257,403 shares of the utilities provider’s stock valued at $18,932,000 after buying an additional 9,070 shares in the last quarter. Vanguard Group Inc increased its position in shares of Spire by 2.4% in the third quarter. Vanguard Group Inc now owns 5,130,613 shares of the utilities provider’s stock valued at $377,356,000 after buying an additional 119,269 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Spire by 2.2% in the fourth quarter. State of Alaska Department of Revenue now owns 16,961 shares of the utilities provider’s stock valued at $1,256,000 after buying an additional 369 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.

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Spire Company Profile (NYSE:SR)

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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