Spire (NYSE:SR) Lowered 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 note published on Sunday.

Several other equities research analysts have also issued reports on the stock. Bank of America initiated coverage on shares of Spire in a research note on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target on the stock. Janney Montgomery Scott initiated coverage on Spire in a report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. Wells Fargo & Company raised their price target on Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. UBS Group upped their price objective on Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley decreased their target price on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.50.

Spire Trading Up 1.5 %

NYSE SR opened at $69.72 on Friday. Spire has a 52 week low of $56.36 and a 52 week high of $73.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.30 and a current ratio of 0.45. The stock’s 50 day moving average price is $68.53 and its two-hundred day moving average price is $66.24. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.50 and a beta of 0.57.

Spire Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Wednesday, December 11th were paid a $3.14 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $12.56 dividend on an annualized basis and a yield of 18.02%. This is a positive change from Spire’s previous quarterly dividend of $0.76. Spire’s dividend payout ratio is 72.85%.

Insider Buying and Selling at Spire

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the transaction, the treasurer now owns 2,587 shares in the company, valued at $174,544.89. This trade represents a 30.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul D. Koonce bought 1,000 shares of Spire stock in a transaction dated Monday, December 2nd. The stock was acquired at an average cost of $73.61 per share, with a total value of $73,610.00. Following the transaction, 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. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Spire

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. increased its stake in Spire by 5.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,572 shares of the utilities provider’s stock worth $240,000 after acquiring an additional 177 shares during the period. Creative Planning grew its holdings in shares of Spire by 2.7% during the 3rd quarter. Creative Planning now owns 7,126 shares of the utilities provider’s stock worth $480,000 after purchasing an additional 190 shares in the last quarter. Missouri Trust & Investment Co increased its position in shares of Spire by 28.6% in the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC raised its stake in Spire by 87.2% in the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 204 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in Spire by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 5,327 shares of the utilities provider’s stock worth $358,000 after purchasing an additional 228 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.