Spire (NYSE:SR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Spire Inc. is a public utility company which is engaged in the purchase, retail distribution, sale and marketing of natural gas. Its operating segment consists of Gas Utility and Gas Marketing. Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation. Gas Marketing segment is engaged in the marketing of natural gas and related activities on a non-regulated basis. Spire Inc, formerly known as The Laclede Group Inc., is headquartered in St. Louis, Missouri. “
Several other research firms also recently weighed in on SR. Royal Bank of Canada reiterated a “hold” rating and set a $73.00 target price on shares of Spire in a research report on Monday, October 16th. JPMorgan Chase & Co. lifted their target price on Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. ValuEngine downgraded Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Morgan Stanley lifted their target price on Spire from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 13th. Finally, Stifel Nicolaus lifted their target price on Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $74.67.
Spire (NYSE SR) opened at $68.40 on Friday. 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 $3,303.38, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 3.68 and a beta of 0.30. Spire has a one year low of $62.33 and a one year high of $82.85.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.04. The company had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. Spire had a net margin of 9.28% and a return on equity of 8.71%. Spire’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) earnings per share. equities analysts anticipate that Spire will post 3.72 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Spire by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 289,938 shares of the utilities provider’s stock valued at $21,789,000 after acquiring an additional 13,668 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Spire by 6.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the utilities provider’s stock valued at $1,563,000 after acquiring an additional 1,200 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Spire in the third quarter valued at about $209,000. Americafirst Capital Management LLC bought a new stake in shares of Spire in the third quarter valued at about $451,000. Finally, Sterling Capital Management LLC bought a new stake in shares of Spire in the third quarter valued at about $1,486,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.
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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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