Spire (NYSE:SR) Sets New 52-Week High – Still a Buy?

Spire Inc. (NYSE:SR) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $73.96 and last traded at $73.67, with a volume of 58869 shares trading hands. The stock had previously closed at $73.37.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SR shares. Morgan Stanley decreased their price objective on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. UBS Group lifted their price target on Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Stifel Nicolaus lowered their price objective on Spire from $70.00 to $69.00 and set a “hold” rating for the company in a report on Friday, November 22nd. Janney Montgomery Scott assumed coverage on Spire in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 target price for the company. Finally, StockNews.com lowered Spire from a “hold” rating to a “sell” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.50.

Spire Stock Up 0.9 %

The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 2.76 and a beta of 0.58. The stock has a 50-day moving average of $68.93 and a 200-day moving average of $67.18. The company has a current ratio of 0.50, a quick ratio of 0.30 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SR) last announced its quarterly earnings results on Wednesday, February 5th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a net margin of 9.70% and a return on equity of 7.88%. As a group, sell-side analysts forecast that Spire Inc. will post 4.51 EPS for the current fiscal year.

Spire Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 11th will be paid a $0.785 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $3.14 annualized dividend and a dividend yield of 4.24%. Spire’s payout ratio is currently 76.03%.

Insider Transactions at Spire

In related news, Director Paul D. Koonce acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average cost of $73.61 per share, for a total transaction of $73,610.00. Following the completion of the purchase, the director now directly owns 2,425 shares in the company, valued at $178,504.25. This trade represents a 70.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Treasurer Adam W. Woodard sold 1,150 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.47, for a total transaction of $77,590.50. Following the completion of the transaction, the treasurer now owns 2,587 shares of the company’s stock, valued at $174,544.89. This represents a 30.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Spire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SR. Susquehanna International Group LLP increased its position in shares of Spire by 140.1% during the 4th quarter. Susquehanna International Group LLP now owns 27,988 shares of the utilities provider’s stock valued at $1,898,000 after purchasing an additional 16,331 shares during the period. Hsbc Holdings PLC boosted its stake in Spire by 94.7% during the fourth quarter. Hsbc Holdings PLC now owns 7,899 shares of the utilities provider’s stock valued at $534,000 after buying an additional 3,841 shares in the last quarter. Stifel Financial Corp grew its holdings in Spire by 4.8% during the fourth quarter. Stifel Financial Corp now owns 35,065 shares of the utilities provider’s stock worth $2,378,000 after acquiring an additional 1,599 shares during the period. Van Lanschot Kempen Investment Management N.V. bought a new stake in Spire in the fourth quarter worth about $3,100,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Spire by 69.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,286 shares of the utilities provider’s stock valued at $426,000 after acquiring an additional 2,581 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

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.