JPMorgan Chase & Co. Has Lowered Expectations for Spire (NYSE:SR) Stock Price

Spire (NYSE:SR - Get Free Report) had its price target dropped by analysts at JPMorgan Chase & Co. from $85.00 to $83.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 12.07% from the company's current price.

Several other brokerages have also issued reports on SR. LADENBURG THALM/SH SH upgraded Spire to a "strong-buy" rating in a report on Friday, May 9th. Guggenheim lifted their target price on shares of Spire from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Morgan Stanley upped their target price on shares of Spire from $75.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Mizuho increased their price target on Spire from $76.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Finally, Wells Fargo & Company increased their price target on shares of Spire from $75.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $77.20.

Spire Stock Down 1.8%

Shares of NYSE:SR traded down $1.34 during trading on Wednesday, hitting $74.06. The company's stock had a trading volume of 94,172 shares, compared to its average volume of 394,027. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.37 and a current ratio of 0.50. Spire has a fifty-two week low of $57.77 and a fifty-two week high of $79.81. The stock's 50-day moving average price is $75.83 and its two-hundred day moving average price is $72.69. The company has a market capitalization of $4.37 billion, a PE ratio of 17.95, a PEG ratio of 2.82 and a beta of 0.65.

Spire (NYSE:SR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.70 by ($0.10). Spire had a net margin of 9.70% and a return on equity of 7.88%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business posted $3.45 earnings per share. The business's quarterly revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Spire will post 4.5 EPS for the current year.

Institutional Investors Weigh In On Spire

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in shares of Spire in the fourth quarter valued at about $27,000. Lee Danner & Bass Inc. purchased a new position in shares of Spire in the 4th quarter worth approximately $32,000. R Squared Ltd purchased a new position in shares of Spire in the 4th quarter worth approximately $37,000. Capital Advisors Ltd. LLC grew its holdings in shares of Spire by 431.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 627 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 509 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Spire during the first quarter valued at approximately $50,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

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.

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