Spire (NYSE:SR) Rating Lowered to “Sell” at StockNews.com

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 to clients and investors on Friday.

A number of other equities analysts also recently issued reports on SR. Stifel Nicolaus cut their price objective on shares of Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company boosted their price target on shares of Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. LADENBURG THALM/SH SH downgraded shares of Spire from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $65.50 to $60.50 in a research report on Thursday, October 17th. Morgan Stanley dropped their target price 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. Finally, Janney Montgomery Scott assumed coverage on Spire in a report on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Spire currently has an average rating of “Hold” and an average price target of $71.50.

Spire Stock Up 0.2 %

NYSE SR traded up $0.16 during trading hours on Friday, hitting $68.56. The company’s stock had a trading volume of 302,295 shares, compared to its average volume of 397,747. 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 company’s 50-day simple moving average is $67.86 and its two-hundred day simple moving average is $65.60. The company has a market capitalization of $3.96 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 3.00 and a beta of 0.57. Spire has a 52 week low of $56.36 and a 52 week high of $73.64.

Insider Buying and Selling

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was 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 in the company, valued at $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 available through this hyperlink. Also, Director Paul D. Koonce purchased 1,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were bought at an average price of $73.61 per share, for a total transaction 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. This trade represents a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spire

Several hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Spire in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in shares of Spire by 87.2% in the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 204 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Spire in the second quarter worth $31,000. Larson Financial Group LLC boosted its stake in Spire by 1,318.4% during the third quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after buying an additional 501 shares during the period. Finally, Missouri Trust & Investment Co grew its position in Spire by 28.6% during the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock worth $61,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.