Spire (NYSE:SR) Hits New 1-Year High – Here’s What Happened

Spire Inc. (NYSE:SR) reached a new 52-week high on Friday . The company traded as high as $75.12 and last traded at $75.23, with a volume of 134103 shares traded. The stock had previously closed at $73.94.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SR. Wells Fargo & Company upped their price target on shares of Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Stifel Nicolaus lowered their target price on shares of Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday, November 22nd. Janney Montgomery Scott began coverage on shares of Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. Bank of America began coverage on shares of Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, UBS Group increased their target price on shares of Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Spire currently has an average rating of “Hold” and an average price target of $71.50.

Spire Trading Up 1.6 %

The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.82 and a beta of 0.58. The company has a 50-day moving average price of $69.61 and a 200-day moving average price of $67.58. The company has a quick ratio of 0.37, a current ratio of 0.50 and a debt-to-equity ratio of 1.21.

Spire (NYSE:SR) last issued 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%. Research analysts predict that Spire Inc. will post 4.5 EPS for the current fiscal year.

Spire Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 11th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Tuesday, March 11th. Spire’s dividend payout ratio is currently 76.03%.

Insider Activity

In related news, 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 value of $77,590.50. Following the completion of the sale, the treasurer now owns 2,587 shares in the company, valued at approximately $174,544.89. This trade represents a 30.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul D. Koonce bought 1,000 shares of Spire stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average price of $73.61 per share, with a total value of $73,610.00. Following the purchase, the director now owns 2,425 shares of the company’s stock, valued at $178,504.25. This trade represents a 70.18 % increase in their position. The disclosure for this purchase can be found here. 2.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Spire

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Spire during the fourth quarter worth about $42,432,000. Captrust Financial Advisors bought a new position in Spire during the third quarter worth about $39,228,000. Zimmer Partners LP bought a new position in Spire during the fourth quarter worth about $30,083,000. Wellington Management Group LLP lifted its stake in Spire by 29.0% during the fourth quarter. Wellington Management Group LLP now owns 1,022,870 shares of the utilities provider’s stock worth $69,381,000 after purchasing an additional 229,662 shares during the period. Finally, Sourcerock Group LLC bought a new position in Spire during the fourth quarter worth about $12,567,000. 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.