Spire (NYSE:SR) Upgraded by StockNews.com to Hold Rating

Spire (NYSE:SR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts also recently commented on the stock. Bank of America began coverage on shares of Spire in a research note on Friday, December 13th. They issued a “neutral” rating and a $70.00 price target on the stock. LADENBURG THALM/SH SH downgraded shares of Spire from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $65.50 to $60.50 in a research note on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Spire from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Janney Montgomery Scott assumed coverage on shares of Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. Finally, 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 report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Spire has a consensus rating of “Hold” and a consensus price target of $71.50.

Spire Price Performance

SR stock opened at $65.67 on Friday. The company has a fifty day simple moving average of $68.10 and a two-hundred day simple moving average of $65.88. The firm has a market capitalization of $3.80 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 3.00 and a beta of 0.57. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Spire has a 52 week low of $56.36 and a 52 week high of $73.64.

Insider Activity

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

Institutional Trading of Spire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SR. Arizona State Retirement System increased its holdings in shares of Spire by 5.2% in the 2nd quarter. Arizona State Retirement System now owns 15,391 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 762 shares during the period. Choreo LLC purchased a new position in Spire in the 2nd quarter valued at $203,000. Jupiter Asset Management Ltd. purchased a new position in Spire in the 2nd quarter valued at $734,000. Inspire Advisors LLC purchased a new position in Spire in the 2nd quarter valued at $1,445,000. Finally, Thompson Siegel & Walmsley LLC grew its position in Spire by 12.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 288,339 shares of the utilities provider’s stock valued at $17,511,000 after buying an additional 31,923 shares during the last quarter. Institutional investors and hedge funds 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.