Spire Inc (NYSE:SR) – Research analysts at Gabelli cut their FY2021 EPS estimates for shares of Spire in a note issued to investors on Friday. Gabelli analyst T. Winter now anticipates that the utilities provider will post earnings of $4.25 per share for the year, down from their prior forecast of $4.30. Gabelli also issued estimates for Spire’s FY2022 earnings at $4.50 EPS.
SR has been the topic of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Spire from $77.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, January 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $65.00 target price on shares of Spire in a research note on Friday. Zacks Investment Research downgraded shares of Spire from a “buy” rating to a “hold” rating in a research note on Saturday, January 20th. ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $73.00 target price on shares of Spire in a research note on Monday, October 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Spire currently has a consensus rating of “Hold” and an average target price of $72.00.
Spire (NYSE:SR) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.13. The firm had revenue of $561.80 million during the quarter, compared to analyst estimates of $516.16 million. Spire had a net margin of 12.86% and a return on equity of 8.91%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 EPS.
A number of institutional investors have recently modified their holdings of SR. Public Employees Retirement System of Ohio increased its position in Spire by 11.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 209 shares during the period. Advisor Group Inc. increased its position in Spire by 30.7% during the 2nd quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 504 shares during the period. Archford Capital Strategies LLC increased its position in Spire by 66.5% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 722 shares during the period. CAPROCK Group Inc. purchased a new position in Spire during the 3rd quarter valued at $201,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Spire during the 3rd quarter valued at $209,000. 80.47% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 12th will be paid a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 3.70%. This is an increase from Spire’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, March 9th. Spire’s payout ratio is presently 45.73%.
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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