Spire (NYSE:SR) Downgraded by Mizuho

Mizuho lowered shares of Spire (NYSE:SR - Free Report) from a buy rating to a neutral rating in a research report released on Thursday morning, Marketbeat reports. The firm currently has $62.00 price objective on the utilities provider's stock, down from their previous price objective of $64.00.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada restated a sector perform rating and set a $65.00 price target on shares of Spire in a research note on Tuesday, April 16th. LADENBURG THALM/SH SH initiated coverage on Spire in a research note on Friday, April 26th. They set a neutral rating and a $57.50 price target on the stock. Finally, UBS Group initiated coverage on Spire in a research note on Friday, April 12th. They set a buy rating and a $68.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Spire currently has a consensus rating of Hold and an average price target of $61.50.

Spire Stock Down 0.4 %

Shares of SR traded down $0.24 during mid-day trading on Thursday, reaching $61.66. The company's stock had a trading volume of 556,618 shares, compared to its average volume of 494,939. Spire has a 12-month low of $53.77 and a 12-month high of $69.99. The stock has a market cap of $3.39 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.50. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.55 and a quick ratio of 0.43. The company's 50 day moving average is $60.14 and its 200 day moving average is $60.07.

Spire (NYSE:SR - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $3.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.86 by ($0.41). The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.21 billion. Spire had a return on equity of 8.27% and a net margin of 8.11%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 EPS. Equities analysts anticipate that Spire will post 4.34 EPS for the current fiscal year.

Spire Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be paid a $0.755 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $3.02 annualized dividend and a dividend yield of 4.90%. Spire's dividend payout ratio (DPR) is currently 81.40%.

Insider Activity

In other news, insider Joseph B. Hampton sold 1,294 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total value of $75,220.22. Following the completion of the sale, the insider now directly owns 6,768 shares of the company's stock, valued at approximately $393,423.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Treasurer Adam W. Woodard sold 1,229 shares of Spire stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following the completion of the transaction, the treasurer now directly owns 1,560 shares of the company's stock, valued at $92,944.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph B. Hampton sold 1,294 shares of Spire stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total value of $75,220.22. Following the transaction, the insider now directly owns 6,768 shares of the company's stock, valued at $393,423.84. The disclosure for this sale can be found here. Insiders own 2.86% of the company's stock.

Hedge Funds Weigh In On Spire

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Spire during the first quarter worth $37,000. Fifth Third Bancorp increased its position in Spire by 81.9% during the third quarter. Fifth Third Bancorp now owns 644 shares of the utilities provider's stock worth $36,000 after buying an additional 290 shares in the last quarter. Signaturefd LLC increased its position in Spire by 34.4% during the fourth quarter. Signaturefd LLC now owns 887 shares of the utilities provider's stock worth $55,000 after buying an additional 227 shares in the last quarter. Jones Financial Companies Lllp increased its position in Spire by 30.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,349 shares of the utilities provider's stock worth $84,000 after buying an additional 313 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Spire by 206.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,898 shares of the utilities provider's stock worth $107,000 after buying an additional 1,279 shares in the last quarter. 87.36% of the stock is 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.