Spire Inc (SR) To Go Ex-Dividend on December 8th

Spire Inc (NYSE:SR) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Monday, December 11th will be paid a dividend of 0.5625 per share by the utilities provider on Wednesday, January 3rd. This represents a $2.25 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, December 8th. This is an increase from Spire’s previous quarterly dividend of $0.53.

Spire has a payout ratio of 60.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Spire to earn $3.83 per share next year, which means the company should continue to be able to cover its $2.25 annual dividend with an expected future payout ratio of 58.7%.

Spire (NYSE:SR) opened at $80.35 on Thursday. The stock has a market capitalization of $3,878.24, a PE ratio of 22.07, a price-to-earnings-growth ratio of 4.05 and a beta of 0.31. Spire has a twelve month low of $62.33 and a twelve month high of $82.85. The company has a current ratio of 0.66, a quick ratio of 0.46 and a debt-to-equity ratio of 1.00.

Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.04. The company had revenue of $258.70 million for the quarter, compared to analyst estimates of $271.65 million. Spire had a return on equity of 8.71% and a net margin of 9.28%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) earnings per share. sell-side analysts forecast that Spire will post 3.72 EPS for the current year.

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 target price on shares of Spire in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Wednesday, October 4th. Morgan Stanley increased their target price on shares of Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, J P Morgan Chase & Co raised their price objective on shares of Spire from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.00.

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About Spire

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.

Dividend History for Spire (NYSE:SR)

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