Spire (NYSE:SR) Upgraded by Mizuho to Outperform Rating

Mizuho upgraded shares of Spire (NYSE:SR) from a neutral rating to an outperform rating in a research report sent to investors on Friday, Marketbeat.com reports. The firm currently has $76.00 price target on the utilities provider’s stock, up from their previous price target of $65.00.

A number of other equities analysts also recently commented on the stock. Morgan Stanley reduced their target price on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on shares of Spire from $70.00 to $69.00 and set a “hold” rating for the company in a research note on Friday, November 22nd. UBS Group raised their target price on shares of Spire from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America started coverage on Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, StockNews.com cut Spire from a “hold” rating to a “sell” rating in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.50.

Spire Trading Up 1.7 %

SR opened at $66.69 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.04 and a beta of 0.57. Spire has a 12 month low of $56.36 and a 12 month high of $73.64. The stock has a fifty day moving average price of $67.46 and a 200-day moving average price of $65.04.

Spire Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 11th will be paid a $3.14 dividend. This represents a $12.56 annualized dividend and a dividend yield of 18.83%. This is a boost from Spire’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, December 11th. Spire’s dividend payout ratio (DPR) is presently 72.85%.

Insider Buying and Selling

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the sale, the treasurer now directly owns 2,587 shares of the company’s stock, valued at approximately $174,544.89. This trade represents a 30.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Koonce acquired 1,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $73.61 per share, with a total value of $73,610.00. Following the acquisition, the director now owns 2,425 shares in the company, valued at approximately $178,504.25. This trade represents a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.86% of the company’s stock.

Institutional Investors Weigh In On Spire

Several hedge funds have recently modified their holdings of SR. Oddo BHF Asset Management Sas acquired a new stake in Spire in the 3rd quarter valued at $994,000. Sanctuary Advisors LLC acquired a new stake in shares of Spire in the third quarter valued at about $575,000. Geode Capital Management LLC grew its position in shares of Spire by 5.5% in the third quarter. Geode Capital Management LLC now owns 1,385,452 shares of the utilities provider’s stock valued at $93,244,000 after purchasing an additional 71,798 shares during the period. Barclays PLC increased its stake in shares of Spire by 127.8% during the third quarter. Barclays PLC now owns 109,372 shares of the utilities provider’s stock worth $7,360,000 after purchasing an additional 61,357 shares in the last quarter. Finally, Yaupon Capital Management LP raised its position in shares of Spire by 17.0% during the 3rd quarter. Yaupon Capital Management LP now owns 132,075 shares of the utilities provider’s stock worth $8,887,000 after purchasing an additional 19,190 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

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.