Spire (NYSE:SR) Price Target Raised to $82.00

Spire (NYSE:SR) had its target price increased by Mizuho from $76.00 to $82.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

SR has been the topic of several other reports. Janney Montgomery Scott assumed coverage on Spire in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price objective on the stock. LADENBURG THALM/SH SH upgraded shares of Spire to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley lowered their target price on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company boosted their price target on shares of Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Finally, StockNews.com raised Spire from a “sell” rating to a “hold” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.00.

Spire Price Performance

Shares of SR opened at $76.31 on Wednesday. The firm has a fifty day simple moving average of $73.30 and a two-hundred day simple moving average of $69.16. The firm has a market cap of $4.45 billion, a PE ratio of 18.48, a P/E/G ratio of 2.82 and a beta of 0.53. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21. Spire has a 1-year low of $57.27 and a 1-year high of $78.83.

Spire (NYSE:SR) last announced its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.08). Spire had a net margin of 9.70% and a return on equity of 7.88%. On average, equities analysts anticipate that Spire will post 4.5 EPS for the current year.

Spire Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 11th will be given a $0.785 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 4.11%. Spire’s payout ratio is 76.03%.

Institutional Investors Weigh In On Spire

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in Spire in the 3rd quarter worth approximately $25,000. Golden State Wealth Management LLC purchased a new stake in shares of Spire during the fourth quarter valued at $27,000. GAMMA Investing LLC increased its position in shares of Spire by 87.2% in the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 204 shares during the period. Lee Danner & Bass Inc. purchased a new position in Spire in the 4th quarter worth $32,000. Finally, Larson Financial Group LLC lifted its position in Spire by 1,318.4% during the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 501 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Spire

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 three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.