Spire (NYSE:SR) Price Target Raised to $75.00

Spire (NYSE:SR) had its price objective increased by Wells Fargo & Company from $73.00 to $75.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on the company. LADENBURG THALM/SH SH cut Spire from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $65.50 to $60.50 in a report on Thursday, October 17th. Mizuho upped their price objective on Spire from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their target price on shares of Spire from $70.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus upped their price target on shares of Spire from $64.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Spire has an average rating of “Hold” and a consensus target price of $68.06.

Spire Stock Performance

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

Spire Increases Dividend

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

Institutional Investors Weigh In On Spire

Several large investors have recently modified their holdings of SR. Meeder Asset Management Inc. bought a new stake in Spire in the third quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of Spire during the 2nd quarter worth approximately $31,000. LRI Investments LLC bought a new stake in shares of Spire in the 1st quarter valued at $35,000. Larson Financial Group LLC lifted its position in shares of Spire by 1,318.4% during the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 501 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Spire during the first quarter worth $47,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.