Spire (NYSE:SR) Earns "Outperform" Rating from Mizuho

Key Points

• Mizuho reiterated its “outperform” rating on Spire and set a $88 price target, implying about 12.2% upside from the stock’s current price.
• Spire’s shares were down 1.6% to $78.42 in Tuesday trading, and the stock remains below its recent analyst targets and its 52-week high of $95.31.
• The company’s latest quarterly results beat EPS expectations at $3.76 versus $3.72, though revenue of $1.02 billion came in below forecasts; analysts now expect $4.02 EPS for the full fiscal year.

Spire (NYSE:SR - Get Free Report)'s stock had its "outperform" rating restated by Mizuho in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $88.00 price objective on the utilities provider's stock. Mizuho's price target would indicate a potential upside of 12.22% from the stock's current price.

SR has been the subject of a number of other reports. Wall Street Zen lowered Spire from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Wolfe Research began coverage on Spire in a report on Tuesday, May 26th. They set a "peer perform" rating for the company. Wells Fargo & Company assumed coverage on Spire in a report on Monday, May 11th. They issued an "overweight" rating and a $96.00 target price on the stock. TD Cowen assumed coverage on shares of Spire in a research report on Thursday, April 16th. They issued a "hold" rating and a $101.00 price target for the company. Finally, UBS Group decreased their price target on shares of Spire from $106.00 to $103.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.30.

Spire Stock Down 1.6%

Shares of NYSE SR opened at $78.42 on Tuesday. The firm has a market cap of $4.64 billion, a PE ratio of 13.78, a P/E/G ratio of 1.78 and a beta of 0.52. Spire has a 12-month low of $71.24 and a 12-month high of $95.31. The company's fifty day simple moving average is $83.00 and its 200 day simple moving average is $86.23. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.69.

Spire (NYSE:SR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $3.76 EPS for the quarter, topping analysts' consensus estimates of $3.72 by $0.04. Spire had a net margin of 13.97% and a return on equity of 9.49%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the company posted $3.60 earnings per share. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Spire will post 4.02 earnings per share for the current fiscal year.

Insider Activity at Spire

In related news, Director Paul D. Koonce purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $85.81 per share, for a total transaction of $171,620.00. Following the completion of the acquisition, the director owned 7,000 shares of the company's stock, valued at $600,670. This represents a 40.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ryan L. Hyman sold 3,822 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $80.51, for a total value of $307,709.22. Following the completion of the sale, the senior vice president directly owned 14,295 shares of the company's stock, valued at $1,150,890.45. The trade was a 21.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 3,000 shares of company stock worth $251,100. 2.26% of the stock is owned by insiders.

Institutional Trading of Spire

Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Spire by 19.7% during the first quarter. Pacer Advisors Inc. now owns 8,453 shares of the utilities provider's stock valued at $765,000 after purchasing an additional 1,393 shares in the last quarter. Empowered Funds LLC grew its position in Spire by 26.7% in the 1st quarter. Empowered Funds LLC now owns 2,292 shares of the utilities provider's stock worth $208,000 after purchasing an additional 483 shares in the last quarter. Edgestream Partners L.P. grew its position in Spire by 226.5% in the 1st quarter. Edgestream Partners L.P. now owns 125,465 shares of the utilities provider's stock worth $11,360,000 after purchasing an additional 87,036 shares in the last quarter. Amundi increased its stake in Spire by 231.1% in the 1st quarter. Amundi now owns 10,624 shares of the utilities provider's stock valued at $962,000 after buying an additional 7,415 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Spire by 51.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,692 shares of the utilities provider's stock valued at $244,000 after buying an additional 917 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

About Spire

Spire Inc NYSE: SR, formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.

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