Spire (NYSE:SR) Given New $80.00 Price Target at Morgan Stanley

Spire (NYSE:SR - Get Free Report) had its price objective upped by stock analysts at Morgan Stanley from $78.00 to $80.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price target would indicate a potential upside of 10.64% from the company's current price.

A number of other equities research analysts have also issued reports on SR. Mizuho upped their price target on Spire from $76.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Wells Fargo & Company raised their price objective on Spire from $75.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Wall Street Zen raised shares of Spire from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. LADENBURG THALM/SH SH raised shares of Spire to a "strong-buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Spire from $85.00 to $83.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $77.40.

Spire Price Performance

Shares of SR stock traded up $0.09 during trading hours on Wednesday, hitting $72.31. 152,849 shares of the company's stock were exchanged, compared to its average volume of 402,144. The firm has a market cap of $4.27 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.45 and a beta of 0.63. The firm has a 50 day moving average of $74.94 and a two-hundred day moving average of $73.11. The company has a quick ratio of 0.34, a current ratio of 0.43 and a debt-to-equity ratio of 1.03. Spire has a fifty-two week low of $58.19 and a fifty-two week high of $79.81.

Spire (NYSE:SR - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.10). Spire had a return on equity of 8.49% and a net margin of 10.22%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $3.45 EPS. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts forecast that Spire will post 4.5 EPS for the current year.

Institutional Investors Weigh In On Spire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Spire in the 1st quarter worth approximately $1,268,000. Geneos Wealth Management Inc. boosted its position in shares of Spire by 2,602.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,081 shares of the utilities provider's stock valued at $85,000 after purchasing an additional 1,041 shares during the period. Intech Investment Management LLC raised its holdings in Spire by 75.6% during the 1st quarter. Intech Investment Management LLC now owns 49,923 shares of the utilities provider's stock worth $3,906,000 after buying an additional 21,495 shares during the period. Jane Street Group LLC purchased a new stake in Spire during the first quarter valued at about $9,636,000. Finally, Bayforest Capital Ltd raised its holdings in shares of Spire by 2,648.0% during the first quarter. Bayforest Capital Ltd now owns 687 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 662 shares during the period. 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.

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