Spire (NYSE:SR) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of Spire (NYSE:SR) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other research analysts also recently commented on SR. Bank of America began coverage on Spire in a research report on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley increased their price target on shares of Spire from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. upgraded shares of Spire from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $85.00 in a report on Thursday, March 20th. LADENBURG THALM/SH SH upgraded shares of Spire to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Janney Montgomery Scott initiated coverage on Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.00.

Spire Trading Up 0.9 %

NYSE:SR opened at $78.18 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $74.24 and its 200-day moving average is $69.56. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.82 and a beta of 0.53. Spire has a 12 month low of $57.27 and a 12 month high of $78.83.

Spire (NYSE:SR) last announced its earnings results on Wednesday, February 5th. The utilities provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.08). Spire had a return on equity of 7.88% and a net margin of 9.70%. Equities analysts anticipate that Spire will post 4.5 EPS for the current year.

Spire Cuts Dividend

The firm 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 dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Tuesday, March 11th. Spire’s dividend payout ratio is 76.03%.

Hedge Funds Weigh In On Spire

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Spire by 29.0% in the fourth quarter. Wellington Management Group LLP now owns 1,022,870 shares of the utilities provider’s stock valued at $69,381,000 after acquiring an additional 229,662 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Spire by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,989 shares of the utilities provider’s stock valued at $338,000 after purchasing an additional 815 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Spire by 2.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,065 shares of the utilities provider’s stock worth $13,096,000 after purchasing an additional 5,454 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Spire during the 4th quarter worth about $30,083,000. Finally, iSAM Funds UK Ltd lifted its holdings in Spire by 2.5% during the 4th quarter. iSAM Funds UK Ltd now owns 9,798 shares of the utilities provider’s stock valued at $665,000 after purchasing an additional 239 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.