Zacks Research Equities Analysts Raise Earnings Estimates for Spire Inc. (NYSE:SR)

Spire Inc. (NYSE:SR) – Research analysts at Zacks Research increased their Q2 2024 earnings per share estimates for shares of Spire in a note issued to investors on Wednesday, April 17th. Zacks Research analyst R. Department now expects that the utilities provider will earn $3.84 per share for the quarter, up from their previous estimate of $3.72. The consensus estimate for Spire’s current full-year earnings is $4.35 per share. Zacks Research also issued estimates for Spire’s Q2 2025 earnings at $3.84 EPS, FY2025 earnings at $4.55 EPS, Q2 2026 earnings at $3.55 EPS and FY2026 earnings at $4.83 EPS.

Spire (NYSE:SR) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. Spire had a return on equity of 8.27% and a net margin of 8.11%. The firm had revenue of $756.60 million during the quarter, compared to analysts’ expectations of $688.88 million. During the same period in the prior year, the business posted $1.55 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis.

Several other equities analysts have also commented on SR. Mizuho decreased their price objective on shares of Spire from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, January 22nd. UBS Group assumed coverage on shares of Spire in a report on Friday, April 12th. They issued a “buy” rating and a $68.00 price target for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price objective on shares of Spire in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.25.

Spire Price Performance

Shares of SR opened at $59.40 on Thursday. The company has a 50 day moving average of $59.71 and a two-hundred day moving average of $59.77. The company has a quick ratio of 0.43, a current ratio of 0.55 and a debt-to-equity ratio of 1.16. Spire has a twelve month low of $53.77 and a twelve month high of $70.60. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.67 and a beta of 0.51.

Institutional Investors Weigh In On Spire

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Spire by 2.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,345 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 142 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Spire by 15.2% in the 1st quarter. HighTower Advisors LLC now owns 5,593 shares of the utilities provider’s stock valued at $402,000 after purchasing an additional 736 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Spire by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,826 shares of the utilities provider’s stock valued at $562,000 after buying an additional 645 shares during the period. Bank of Montreal Can increased its holdings in shares of Spire by 4.8% during the 1st quarter. Bank of Montreal Can now owns 26,019 shares of the utilities provider’s stock worth $1,868,000 after buying an additional 1,196 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Spire by 13.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 61,725 shares of the utilities provider’s stock worth $4,635,000 after buying an additional 7,086 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Spire

In other news, insider Joseph B. Hampton sold 1,294 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the sale, the insider now owns 6,768 shares of the company’s stock, valued at $393,423.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph B. Hampton sold 1,294 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the sale, the insider now directly owns 6,768 shares in the company, valued at $393,423.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Adam W. Woodard sold 1,229 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the transaction, the treasurer now directly owns 1,560 shares of the company’s stock, valued at $92,944.80. The disclosure for this sale can be found here. 2.86% of the stock is owned by corporate insiders.

Spire Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 11th were paid a $0.755 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.02 dividend on an annualized basis and a yield of 5.08%. Spire’s dividend payout ratio is currently 81.40%.

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.