Spire (NYSE:SR) Sets New 52-Week High – Should You Buy?

Spire Inc. (NYSE:SR)’s share price hit a new 52-week high on Monday . The company traded as high as $68.04 and last traded at $68.02, with a volume of 211941 shares changing hands. The stock had previously closed at $67.01.

Analysts Set New Price Targets

Several research firms have issued reports on SR. Wells Fargo & Company raised their price target on shares of Spire from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. LADENBURG THALM/SH SH lowered Spire from a “neutral” rating to a “sell” rating and lowered their price target for the company from $65.50 to $60.50 in a research note on Thursday, October 17th. Morgan Stanley upped their price target on Spire from $70.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus raised their price objective on shares of Spire from $64.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $66.19.

Spire Stock Performance

The stock has a 50 day moving average price of $65.49 and a two-hundred day moving average price of $63.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.48 and a quick ratio of 0.35. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.96 and a beta of 0.52.

Spire Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 11th will be given a $3.14 dividend. This represents a $12.56 annualized dividend and a yield of 18.42%. The ex-dividend date is Wednesday, December 11th. This is a boost from Spire’s previous quarterly dividend of $0.76. Spire’s payout ratio is 72.60%.

Insider Buying and Selling at Spire

In other Spire news, VP Gerard J. Gorla sold 500 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $64.82, for a total transaction of $32,410.00. Following the transaction, the vice president now directly owns 7,311 shares in the company, valued at approximately $473,899.02. This represents a 6.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On Spire

Several institutional investors have recently modified their holdings of SR. Vanguard Group Inc. raised its position in Spire by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,626,863 shares of the utilities provider’s stock valued at $345,321,000 after buying an additional 65,486 shares during the last quarter. State Street Corp increased its position in shares of Spire by 1.4% during the 3rd quarter. State Street Corp now owns 3,154,230 shares of the utilities provider’s stock worth $214,535,000 after purchasing an additional 44,969 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Spire by 5.5% in the 3rd 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. Dimensional Fund Advisors LP boosted its position in Spire by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 944,387 shares of the utilities provider’s stock worth $57,351,000 after purchasing an additional 72,119 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Spire by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 805,932 shares of the utilities provider’s stock worth $54,231,000 after acquiring an additional 36,214 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.