StockNews.com Downgrades Spire (NYSE:SR) to Sell

Spire (NYSE:SR) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other research firms also recently weighed in on SR. Morgan Stanley decreased their price target on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Janney Montgomery Scott assumed coverage on Spire in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 price objective for the company. Wells Fargo & Company boosted their price target on Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Mizuho raised Spire from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $76.00 in a research note on Friday, December 20th. Finally, Bank of America assumed coverage on Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.50.

Spire Stock Up 1.5 %

SR stock opened at $69.72 on Friday. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.50 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.30 and a current ratio of 0.45. The business’s 50-day moving average is $68.60 and its two-hundred day moving average is $66.31. Spire has a fifty-two week low of $56.36 and a fifty-two week high of $73.64.

Insiders Place Their Bets

In other news, Treasurer Adam W. Woodard sold 1,150 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $67.47, for a total value of $77,590.50. Following the sale, the treasurer now directly owns 2,587 shares in the company, valued at approximately $174,544.89. This represents a 30.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul D. Koonce bought 1,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were acquired at an average price of $73.61 per share, with a total value of $73,610.00. Following the completion of the transaction, the director now owns 2,425 shares of the company’s stock, valued at approximately $178,504.25. The trade was a 70.18 % increase in their position. The disclosure for this purchase can be found here. 2.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new position in shares of Spire in the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its position in Spire by 87.2% during the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 204 shares in the last quarter. Larson Financial Group LLC grew its stake in Spire by 1,318.4% in the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 501 shares during the last quarter. Missouri Trust & Investment Co raised its holdings in Spire by 28.6% in the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 200 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Spire by 38.9% during the third quarter. Blue Trust Inc. now owns 1,057 shares of the utilities provider’s stock valued at $71,000 after buying an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.