Spire (NYSE:SR) Given New $75.00 Price Target at Wells Fargo & Company

Spire (NYSE:SR) had its price objective hoisted by Wells Fargo & Company from $73.00 to $75.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the company. Mizuho raised their price target on Spire from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday. LADENBURG THALM/SH SH cut shares of Spire from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $65.50 to $60.50 in a research note on Thursday, October 17th. Morgan Stanley raised their target price on shares of Spire from $70.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus boosted their price objective on shares of Spire from $64.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.19.

Spire Stock Performance

NYSE:SR traded up $0.95 during mid-day trading on Thursday, reaching $71.61. 44,860 shares of the stock were exchanged, compared to its average volume of 413,293. The stock has a market capitalization of $4.14 billion, a P/E ratio of 17.23, a P/E/G ratio of 3.00 and a beta of 0.52. Spire has a 1 year low of $56.36 and a 1 year high of $71.88. The company has a 50 day simple moving average of $65.74 and a 200-day simple moving average of $63.76. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 1.11.

Spire Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be issued a $3.14 dividend. This is an increase from Spire’s previous quarterly dividend of $0.76. This represents a $12.56 annualized dividend and a yield of 17.54%. The ex-dividend date of this dividend is Wednesday, December 11th. Spire’s dividend payout ratio is currently 72.60%.

Hedge Funds Weigh In On Spire

Several hedge funds and other institutional investors have recently bought and sold shares of SR. Blue Trust Inc. lifted its holdings in Spire by 26.8% in the 2nd quarter. Blue Trust Inc. now owns 761 shares of the utilities provider’s stock worth $47,000 after buying an additional 161 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Spire by 5.2% during the third 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 last quarter. Creative Planning lifted its stake in shares of Spire by 2.7% in the third quarter. Creative Planning now owns 7,126 shares of the utilities provider’s stock worth $480,000 after acquiring an additional 190 shares in the last quarter. Missouri Trust & Investment Co boosted its holdings in Spire by 28.6% in the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 200 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Spire by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,327 shares of the utilities provider’s stock valued at $358,000 after purchasing an additional 228 shares in 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.