Spire (NYSE:SR) Reaches New 52-Week High – Here’s Why

Spire Inc. (NYSE:SR)’s share price hit a new 52-week high on Monday . The stock traded as high as $68.51 and last traded at $68.51, with a volume of 675 shares changing hands. The stock had previously closed at $65.25.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SR. LADENBURG THALM/SH SH cut Spire from a “neutral” rating to a “sell” rating and cut their price target for the stock from $65.50 to $60.50 in a research note on Thursday, October 17th. Morgan Stanley lifted their price objective on Spire from $70.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Stifel Nicolaus increased their target price on Spire from $64.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price target on shares of Spire from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Spire currently has a consensus rating of “Hold” and an average target price of $66.19.

Spire Price Performance

The stock has a market capitalization of $3.83 billion, a P/E ratio of 16.77, a PEG ratio of 2.84 and a beta of 0.52. The company has a 50 day moving average of $65.65 and a 200-day moving average of $63.01. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 1.11.

Spire (NYSE:SR) last issued its earnings results on Wednesday, July 31st. The utilities provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Spire had a net margin of 9.40% and a return on equity of 8.10%. The company had revenue of $414.10 million for the quarter, compared to analysts’ expectations of $313.86 million. During the same period in the prior year, the company earned ($0.42) earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts predict that Spire Inc. will post 4.23 EPS for the current year.

Spire Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th were issued a $0.755 dividend. This represents a $3.02 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Wednesday, September 11th. Spire’s dividend payout ratio (DPR) is 76.26%.

Insider Activity at Spire

In other Spire news, VP Gerard J. Gorla sold 500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $64.82, for a total value of $32,410.00. Following the sale, the vice president now directly owns 7,311 shares in the company, valued at approximately $473,899.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Spire news, VP Gerard J. Gorla sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $64.82, for a total value of $32,410.00. Following the sale, the vice president now owns 7,311 shares in the company, valued at approximately $473,899.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria V. Fogarty sold 6,590 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $65.15, for a total value of $429,338.50. Following the transaction, the director now owns 9,800 shares of the company’s stock, valued at approximately $638,470. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On Spire

A number of institutional investors and hedge funds have recently bought and sold shares of SR. Wellington Management Group LLP lifted its stake in shares of Spire by 19.7% in the 4th quarter. Wellington Management Group LLP now owns 374,776 shares of the utilities provider’s stock worth $23,364,000 after acquiring an additional 61,564 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Spire during the 4th quarter valued at $201,000. Cardinal Capital Management raised its stake in shares of Spire by 27.0% in the 1st quarter. Cardinal Capital Management now owns 31,621 shares of the utilities provider’s stock worth $1,960,000 after buying an additional 6,716 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Spire by 7.1% in the first quarter. State of Michigan Retirement System now owns 13,536 shares of the utilities provider’s stock valued at $831,000 after buying an additional 900 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Spire by 4.8% during the first quarter. State of Alaska Department of Revenue now owns 5,958 shares of the utilities provider’s stock valued at $365,000 after buying an additional 275 shares in 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.