Spire (NYSE:SR) Rating Downgraded to 'Sell' by StockNews.com

On December 2, 2024, StockNews.com announced that it has downgraded its rating for Spire (NYSE:SR) from a hold to a sell in a recent report. This decision reflects changing views on the stock's performance.

Since the downgrade, Spire has been the subject of other notable analyst assessments. For instance, on November 22, Morgan Stanley reduced its price target for Spire from $77.00 down to $75.00, endorsing an 'equal weight' rating for the stock. That same day, Stifel Nicolaus also adjusted their target, moving it from $70.00 to $69.00 while maintaining a 'hold' rating.

Wells Fargo & Company raised their price target from $73.00 to $75.00, also opting for an 'equal weight' rating in their analysis reported on November 21. Earlier in the season, on October 17, LADENBURG THALM/SH downgraded Spire from a 'neutral' label to a 'sell' and lowered their price target from $65.50 to $60.50.

Contrarily, UBS Group recently increased their target from $75.00 to $80.00, giving Spire a 'buy' position as of November 21. Overall, the stock has received two sell ratings, five hold ratings, and one buy rating from various research analysts. According to data from MarketBeat, Spire currently holds a consensus rating of 'Hold' with a price target average of $69.93.

Current Trading Information

As of the last trading day, Spire's shares opened at $73.19. The stock has experienced a 12-month low of $56.36 and a high of $73.64. Key financial metrics include a current ratio of 0.45, a quick ratio of 0.30, and a debt-to-equity ratio of 1.24. The 50-day moving average stands at $66.49, while the 200-day moving average is $64.26. Spire's market capitalization is approximately $4.23 billion, with a PE ratio of 16.98 and a price-to-earnings-growth ratio of 3.24.

Dividend Announcement

In recent news, Spire declared its upcoming quarterly dividend, which is set to be paid on January 3, 2025. Shareholders on record as of December 11 will receive a dividend of $3.14. The ex-dividend date for this payout is also December 11, translating to an annualized dividend of $12.56 and an impressive yield of 17.16%. This represents an increase from the previous quarterly dividend of $0.76, bringing the company's payout ratio to a notable 70.07%.

Institutional Investment Activity

Various institutional investors have engaged with Spire's stock recently. For instance, Price T Rowe Associates Inc. MD raised its stake by 7.1% during the first quarter, totaling 31,218 shares worth approximately $1,916,000. Similarly, Comerica Bank boosted its holdings by 12.1%, acquiring 58,063 shares with a market value of $3,563,000.

Other notable transactions include LRI Investments LLC, which invested in Spire, as well as Burney Co., which increased its position by 8.9%. Boston Partners significantly enhanced its shares by 132.4%, totaling 38,521 shares valued at $2,364,000. Collectively, hedge funds and institutional investors control 87.36% of Spire's stock.

Company Overview

Spire Inc. operates in the natural gas sector, being involved in purchasing, distributing, and selling natural gas to various consumers across the U.S. The company functions through three segments: Gas Utility, Gas Marketing, and Midstream, providing services that include the marketing and storage of natural gas.

Spire, Investment, Stocks