Spire Inc. (NYSE:SR – Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, June 11th will be given a dividend of 0.755 per share by the utilities provider on Tuesday, July 2nd. This represents a $3.02 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Tuesday, June 11th.
Spire has raised its dividend payment by an average of 5.0% annually over the last three years and has raised its dividend every year for the last 21 years. Spire has a payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Spire to earn $4.56 per share next year, which means the company should continue to be able to cover its $3.02 annual dividend with an expected future payout ratio of 66.2%.
Spire Stock Performance
Shares of NYSE SR traded down $0.35 during trading on Friday, reaching $61.40. 361,004 shares of the stock traded hands, compared to its average volume of 320,353. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.55 and a quick ratio of 0.43. The stock has a market capitalization of $3.38 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. Spire has a 52-week low of $53.77 and a 52-week high of $69.99. The company has a 50-day moving average of $60.01 and a 200-day moving average of $59.98.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Mizuho lowered their target price on shares of Spire from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Monday, January 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price objective on shares of Spire in a research note on Tuesday, April 16th. LADENBURG THALM/SH SH began coverage on Spire in a research report on Friday. They set a “neutral” rating and a $57.50 target price for the company. Finally, UBS Group initiated coverage on Spire in a report on Friday, April 12th. They issued a “buy” rating and a $68.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Spire has an average rating of “Hold” and a consensus target price of $61.72.
Read Our Latest Stock Analysis on SR
Insider Activity
In other Spire news, insider Joseph B. Hampton sold 1,294 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total value of $75,220.22. Following the sale, the insider now owns 6,768 shares in the company, valued at $393,423.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Treasurer Adam W. Woodard sold 1,229 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $59.58, for a total transaction of $73,223.82. Following the sale, the treasurer now directly owns 1,560 shares of the company’s stock, valued at approximately $92,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph B. Hampton sold 1,294 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the sale, the insider now owns 6,768 shares of the company’s stock, valued at $393,423.84. The disclosure for this sale can be found here. Company insiders own 2.86% 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.
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