Spire (NYSE:SR) had its price target upped by investment analysts at Morgan Stanley from $75.00 to $77.00 in a research report issued on Wednesday. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 0.59% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Wednesday, October 4th. ValuEngine lowered shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Stifel Nicolaus increased their price objective on shares of Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, November 16th. Royal Bank of Canada reissued a “hold” rating and issued a $73.00 price objective on shares of Spire in a research report on Monday, October 16th. Finally, J P Morgan Chase & Co increased their price objective on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $75.33.
Spire (NYSE:SR) opened at $76.55 on Wednesday. Spire has a 52-week low of $62.33 and a 52-week high of $82.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.46 and a current ratio of 0.66. The company has a market cap of $3,723.79, a P/E ratio of 21.19, a P/E/G ratio of 4.15 and a beta of 0.31.
Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.04. Spire had a net margin of 9.28% and a return on equity of 8.71%. The firm had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. During the same quarter in the prior year, the business posted ($0.32) earnings per share. Spire’s revenue for the quarter was down 7.4% compared to the same quarter last year. equities research analysts expect that Spire will post 3.72 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC acquired a new stake in Spire during the 3rd quarter valued at $209,000. Americafirst Capital Management LLC acquired a new stake in Spire during the 3rd quarter valued at $451,000. Sterling Capital Management LLC acquired a new stake in Spire during the 3rd quarter valued at $1,486,000. Neuberger Berman Group LLC acquired a new stake in Spire during the 3rd quarter valued at $219,000. Finally, California Public Employees Retirement System grew its holdings in Spire by 14.8% during the 3rd quarter. California Public Employees Retirement System now owns 105,724 shares of the utilities provider’s stock valued at $7,892,000 after purchasing an additional 13,624 shares in the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds.
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Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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