Mizuho Increases Spire (NYSE:SR) Price Target to $77.00

Spire (NYSE:SRGet Rating) had its price target boosted by Mizuho from $74.00 to $77.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have a neutral rating on the utilities provider’s stock.

Several other research firms also recently weighed in on SR. Zacks Investment Research downgraded Spire from a hold rating to a sell rating and set a $80.00 target price on the stock. in a research report on Tuesday, April 12th. TheStreet raised Spire from a c+ rating to a b rating in a report on Monday, March 7th. Wells Fargo & Company raised their price target on Spire from $70.00 to $81.00 and gave the company an equal weight rating in a report on Tuesday, April 19th. Morgan Stanley decreased their price target on Spire from $78.00 to $74.00 and set an equal weight rating on the stock in a report on Monday, May 23rd. Finally, Sidoti cut Spire from a buy rating to a neutral rating in a report on Wednesday, April 13th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Spire has an average rating of Hold and an average target price of $74.25.

NYSE SR opened at $78.84 on Wednesday. The company has a market capitalization of $4.11 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 3.90 and a beta of 0.29. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.66 and a current ratio of 0.78. The business’s fifty day moving average is $74.25 and its 200 day moving average is $68.01. Spire has a fifty-two week low of $59.60 and a fifty-two week high of $79.24.

Spire (NYSE:SRGet Rating) last released its earnings results on Friday, May 6th. The utilities provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.31. The company had revenue of $880.90 million for the quarter, compared to the consensus estimate of $849.50 million. Spire had a return on equity of 9.59% and a net margin of 10.94%. Spire’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.71 earnings per share. On average, sell-side analysts forecast that Spire will post 3.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be issued a $0.685 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.74 annualized dividend and a dividend yield of 3.48%. Spire’s dividend payout ratio (DPR) is 67.65%.

In related news, EVP Steven P. Rasche purchased 1,703 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $24.09 per share, for a total transaction of $41,025.27. Following the completion of the transaction, the executive vice president now owns 9,500 shares in the company, valued at approximately $228,855. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Adam W. Woodard sold 2,211 shares of Spire stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $74.35, for a total value of $164,387.85. Following the completion of the transaction, the treasurer now owns 1,327 shares of the company’s stock, valued at approximately $98,662.45. The disclosure for this sale can be found here. Company insiders own 2.97% of the company’s stock.

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC purchased a new position in shares of Spire during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in shares of Spire by 114.3% during the fourth quarter. Larson Financial Group LLC now owns 555 shares of the utilities provider’s stock valued at $36,000 after buying an additional 296 shares during the period. Cohen & Steers Inc. boosted its position in shares of Spire by 31.8% during the first quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock valued at $46,000 after buying an additional 154 shares during the period. Missouri Trust & Investment Co purchased a new position in shares of Spire during the fourth quarter valued at approximately $52,000. Finally, Guardian Wealth Management Inc. purchased a new position in shares of Spire during the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 84.91% of the company’s stock.

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 in two segments, Gas Utility and Gas Marketing. It is also involved in the marketing of natural gas.

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