JP Morgan Downgrades Spire Inc. to Hold

JP Morgan has downgraded Spire Inc. (NYSE:SR) to a hold rating, setting a new price target of $85. This change, made by analyst Eli Jossen on June 26, 2026, reflects a more cautious outlook on the utility company.

Other Institutional Activity in Spire Inc.

BlackRock, Inc. trimmed its position in Spire Inc. by 103,659 shares, now holding 7,978,313 shares valued at about $722.4 million, a 1.3% decrease. Vanguard Portfolio Management LLC opened a new position with 3,510,752 shares worth approximately $317.9 million. State Street Corp reduced its holdings by 184,516 shares, ending with 2,975,765 shares valued at $271.8 million, a decrease of 5.8%. Deutsche Bank AG also cut its stake by 292,247 shares, now holding 2,184,118 shares worth around $197.8 million, an 11.8% decrease.

Spire Inc. Stock Down 4.0%

Shares of NYSE:SR traded near $79.29 on Friday. Spire Inc. has a market cap of approximately $4.69 billion and a P/E ratio of 16.05. The stock has a 52-week low of $71.24 and a high of $95.31, with a 50-day moving average of $85.02 and a 200-day moving average of $85.70. The company's beta is 0.537, indicating lower volatility compared to the broader market.

Recent Earnings

Spire Inc. reported revenue of $2.6 billion with a growth rate of 4.5%. The company's net margin stands at 13.78%, and it has a return on equity of 9.12%. Earnings per share (EPS) were $4.94. The next earnings report is expected on May 6, 2026.

Dividend

Spire Inc. offers an annual dividend rate of $3.30, yielding 4.16%. The dividend payout ratio is 65.18%, reflecting a substantial return to shareholders.

Insider Buying and Selling at Spire Inc.

On June 15, 2026, Treasurer Adam Woodard purchased 1,100 shares at an average price of $78.65. Earlier, on June 11 and June 1, Paul Koonce acquired 500 shares each at $78.46 and $80.50 respectively. However, on June 9, SVP Ryan Hyman sold 3,822 shares at an average price of $80.51.

Analysts Set New Price Targets

On June 26, 2026, JP Morgan downgraded Spire Inc. to a hold rating with a $85 price target. Wells Fargo initiated coverage on May 12, 2026, with a buy rating and a $96 target. UBS maintained its buy rating on May 8, 2026, with a $103 price target. The consensus recommendation among analysts remains a buy, with a mean target price of $98, based on nine analyst opinions.

About Spire Inc.

Spire Inc., headquartered in Saint Louis, Missouri, is a regulated gas utility company. It engages in the purchase, distribution, and sale of natural gas to various customers across the United States. The company operates through its Gas Utility, Gas Marketing, and Midstream segments, and is also involved in propane operations. Spire Inc. was founded in 1857 and employs approximately 3,497 people.

Bottom Line

JP Morgan's downgrade of Spire Inc. to a hold rating suggests a more cautious stance on the company's prospects. Despite this, the stock remains attractive to some analysts, with a consensus buy rating and a mean price target of $98. Investors should note that analyst ratings and targets can influence market perceptions, but are not guarantees of future performance.