Spire (NYSE:SR) Hits New 12-Month High – Here’s Why

Spire Inc. (NYSE:SR) shares hit a new 52-week high during trading on Monday . The stock traded as high as $68.04 and last traded at $68.02, with a volume of 211941 shares traded. The stock had previously closed at $67.01.

Analysts Set New Price Targets

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

Spire Stock Performance

The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.96 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 1.11. The company has a 50 day simple moving average of $65.49 and a 200 day simple moving average of $63.59.

Spire Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be given a dividend of $3.14 per share. This represents a $12.56 dividend on an annualized basis and a yield of 18.42%. This is a boost from Spire’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, December 11th. Spire’s dividend payout ratio is currently 72.60%.

Insider Buying and Selling at Spire

In other Spire news, VP Gerard J. Gorla sold 500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $64.82, for a total value of $32,410.00. Following the completion of the transaction, the vice president now directly owns 7,311 shares in the company, valued at approximately $473,899.02. This trade represents a 6.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in Spire during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in Spire during the 2nd quarter worth $31,000. Larson Financial Group LLC lifted its holdings in Spire by 1,318.4% during the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock worth $36,000 after buying an additional 501 shares during the period. LRI Investments LLC bought a new stake in shares of Spire in the 1st quarter valued at about $35,000. Finally, Blue Trust Inc. increased its stake in shares of Spire by 26.8% in the second quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock valued at $47,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Spire Company Profile

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.