Fintel reports that on September 21, 2023, Morgan Stanley maintained coverage of Spire (NYSE:SR) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 17.30% Upside
As of August 31, 2023, the average one-year price target for Spire is 68.92. The forecasts range from a low of 65.65 to a high of $74.55. The average price target represents an increase of 17.30% from its latest reported closing price of 58.76.
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The projected annual revenue for Spire is 2,242MM, a decrease of 16.03%. The projected annual non-GAAP EPS is 4.28.
Spire Declares $0.72 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $0.72 per share ($2.88 annualized). Shareholders of record as of September 11, 2023 will receive the payment on October 3, 2023. Previously, the company paid $0.72 per share.
At the current share price of $58.76 / share, the stock's dividend yield is 4.90%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.68%, the lowest has been 2.72%, and the highest has been 4.89%. The standard deviation of yields is 0.58 (n=236).
The current dividend yield is 2.11 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.63. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 640 funds or institutions reporting positions in Spire. This is a decrease of 27 owner(s) or 4.05% in the last quarter. Average portfolio weight of all funds dedicated to SR is 0.19%, a decrease of 7.00%. Total shares owned by institutions increased in the last three months by 1.25% to 55,871K shares. 
The put/call ratio of SR is 0.64, indicating a bullish outlook.
What are Other Shareholders Doing?
American Century Companies holds 6,915K shares representing 13.15% ownership of the company. In it's prior filing, the firm reported owning 7,339K shares, representing a decrease of 6.12%. The firm decreased its portfolio allocation in SR by 18.44% over the last quarter.
TWEIX - Equity Income Fund Investor Class holds 2,650K shares representing 5.04% ownership of the company. In it's prior filing, the firm reported owning 2,773K shares, representing a decrease of 4.64%. The firm decreased its portfolio allocation in SR by 10.34% over the last quarter.
ACMVX - Mid Cap Value Fund Investor Class holds 2,510K shares representing 4.77% ownership of the company. In it's prior filing, the firm reported owning 2,628K shares, representing a decrease of 4.68%. The firm decreased its portfolio allocation in SR by 13.91% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,596K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,621K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in SR by 14.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,555K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 1,540K shares, representing an increase of 0.99%. The firm decreased its portfolio allocation in SR by 15.71% over the last quarter.
Spire Background Information
(This description is provided by the company.)
Spire is a growing, financially strong natural gas company with five gas utilities, serving 1.7 million homes and businesses across Alabama, Mississippi and Missouri, making it the 5th largest publicly traded natural gas company. Spire's Natural gas-related businesses include Spire Marketing, Spire STL Pipeline and Spire Storage. Spire is committed to transforming the business through growing organically, investing in infrastructure, and advancing through innovation.
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