Spire (NYSE:SR) Rating Lowered to Sell at StockNews.com

Spire (NYSE:SR) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other equities analysts have also issued reports on SR. Janney Montgomery Scott assumed coverage on Spire in a report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 price target on the stock. Morgan Stanley increased their price target on Spire from $75.00 to $78.00 and gave the stock 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 raised their price objective for the company from $72.00 to $85.00 in a research report on Thursday, March 20th. Mizuho increased their target price on Spire from $76.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Finally, Bank of America assumed coverage on Spire in a research note on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Spire presently has an average rating of “Hold” and an average price target of $76.00.

Spire Price Performance

SR stock opened at $76.83 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.37 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $4.48 billion, a P/E ratio of 18.60, a PEG ratio of 2.82 and a beta of 0.53. The business has a 50 day simple moving average of $73.70 and a 200-day simple moving average of $69.36. Spire has a twelve month low of $57.27 and a twelve month high of $78.83.

Spire (NYSE:SR) last released its quarterly 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 net margin of 9.70% and a return on equity of 7.88%. As a group, equities analysts anticipate that Spire will post 4.5 EPS for the current year.

Hedge Funds Weigh In On Spire

Several hedge funds have recently bought and sold shares of SR. Wellington Management Group LLP raised its holdings in shares of Spire by 29.0% in the fourth quarter. Wellington Management Group LLP now owns 1,022,870 shares of the utilities provider’s stock worth $69,381,000 after acquiring an additional 229,662 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Spire by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,989 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 815 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 valued at $13,096,000 after purchasing an additional 5,454 shares during the last quarter. Zimmer Partners LP acquired a new position in Spire in the 4th quarter valued at about $30,083,000. Finally, iSAM Funds UK Ltd lifted its holdings in Spire by 2.5% in 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 in the last quarter. Hedge funds and other 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.