Spire (NYSE:SR) was upgraded by investment analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, The Fly reports.
SR has been the topic of several other reports. Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Friday, April 6th. ValuEngine raised Spire from a “hold” rating to a “buy” rating in a research report on Saturday, April 7th. Bank of America downgraded Spire from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research report on Friday, May 4th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price objective on Spire from $65.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, May 3rd. Finally, Gabelli reaffirmed a “buy” rating on shares of Spire in a report on Monday, April 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $71.86.
Shares of SR traded up $0.15 during trading hours on Thursday, hitting $65.45. 558,300 shares of the company were exchanged, compared to its average volume of 320,213. The firm has a market cap of $3.21 billion, a PE ratio of 18.38, a P/E/G ratio of 4.84 and a beta of 0.04. The company has a quick ratio of 0.64, a current ratio of 0.77 and a debt-to-equity ratio of 0.96. Spire has a one year low of $60.08 and a one year high of $82.85.
Spire (NYSE:SR) last issued its earnings results on Wednesday, May 2nd. The utilities provider reported $2.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.35. The business had revenue of $813.40 million during the quarter, compared to analysts’ expectations of $685.12 million. Spire had a return on equity of 9.99% and a net margin of 11.37%. Spire’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 earnings per share. equities research analysts anticipate that Spire will post 3.73 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in SR. BlackRock Inc. increased its holdings in shares of Spire by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,273,333 shares of the utilities provider’s stock worth $471,441,000 after purchasing an additional 200,037 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Spire by 33.8% during the 1st quarter. Nuveen Asset Management LLC now owns 531,617 shares of the utilities provider’s stock worth $38,436,000 after acquiring an additional 134,402 shares in the last quarter. Renaissance Technologies LLC boosted its position in Spire by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 707,700 shares of the utilities provider’s stock valued at $53,184,000 after buying an additional 117,700 shares in the last quarter. OLD Republic International Corp boosted its position in Spire by 67.5% in the first quarter. OLD Republic International Corp now owns 268,000 shares of the utilities provider’s stock valued at $19,376,000 after buying an additional 108,000 shares in the last quarter. Finally, Shelter Harbor Advisors LP boosted its position in Spire by 212.5% in the first quarter. Shelter Harbor Advisors LP now owns 125,000 shares of the utilities provider’s stock valued at $9,038,000 after buying an additional 85,000 shares in the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.
Spire Company Profile
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 customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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