Spire (NYSE:SR) Downgraded to “Sell” Rating by StockNews.com

StockNews.com cut shares of Spire (NYSE:SR) from a hold rating to a sell rating in a report released on Thursday morning.

Other equities research analysts also recently issued reports about the company. LADENBURG THALM/SH SH downgraded Spire from a “neutral” rating to a “sell” rating and cut their target price for the stock from $65.50 to $60.50 in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday. Stifel Nicolaus lifted their target price on Spire from $64.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. UBS Group boosted their price target on shares of Spire from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their price objective on shares of Spire from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Spire presently has an average rating of “Hold” and an average price target of $68.06.

Spire Stock Up 2.7 %

SR stock opened at $72.55 on Thursday. The firm’s 50-day moving average is $65.87 and its two-hundred day moving average is $63.84. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 3.13 and a beta of 0.52. Spire has a 52 week low of $56.36 and a 52 week high of $72.71. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 1.24.

Spire Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 11th will be paid a dividend of $3.14 per share. The ex-dividend date is Wednesday, December 11th. This is a positive change from Spire’s previous quarterly dividend of $0.76. This represents a $12.56 dividend on an annualized basis and a yield of 17.31%. Spire’s dividend payout ratio is currently 70.07%.

Institutional Investors Weigh In On Spire

Several hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Spire in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Spire in the second quarter valued at $31,000. Larson Financial Group LLC boosted its position in shares of Spire by 1,318.4% in the third 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 acquired a new position in Spire during the first quarter valued at $35,000. Finally, Blue Trust Inc. lifted its stake 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 acquiring an additional 161 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.