Laclede Group (LG) is Downgraded by RBC Capital Mkts to Sector Perform, Raises Price Target to $63

Laclede Group (LG) is Downgraded by RBC Capital Mkts to Sector Perform according to the research report released to the investors. The brokerage firm has raised the Price Target to $63 from a previous price target of $57 . Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

The Laclede Group, Inc. is up 9.78% in the last 3-month period. Year-to-Date the stock performance stands at 15.73%.

Laclede Group, Inc. (NYSE:LG) has dropped 0.37% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 2.95% in the last 4 weeks. In the past week, the shares have outperformed the S&P 500 by 0.46% and the outperformance increases to 5.35% for the last 4 weeks.

Shares of Laclede Group, Inc. (NYSE:LG) ended Thursday session in red amid volatile trading. The shares closed down 1.11 points or 1.83% at $59.41 with 176,513 shares getting traded. Post opening the session at $60.52, the shares hit an intraday low of $59.24 and an intraday high of $60.785 and the price vacillated in this range throughout the day. The company has a market cap of $2,575 million and the number of outstanding shares have been calculated to be 43,350,411 shares. The 52-week high of Laclede Group, Inc. (NYSE:LG) is $61.04 and the 52-week low is $49.07.

Currently the company Insiders own 3.2% of Laclede Group, Inc. shares according to the proxy statements. Institutional Investors own 81.66% of Laclede Group, Inc. shares.

The Laclede Group, Inc. (Laclede Group) is a utility holding company. The Company operates in two segments: Regulated Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company (Laclede Gas or the Utility), Laclede Groups subsidiary and core business unit. Laclede Gas is a public utility engaged in the retail distribution and sale of natural gas. Laclede Gas is in the natural gas distribution utility in Missouri, serving more than 1.13 million residential, commercial, and industrial customers. The Gas Marketing segment includes Laclede Energy Resources, Inc. (LER), a wholly owned subsidiary is engaged in the marketing of natural gas and related activities on a non-regulated basis. In September 2014, the Company purchased 100% interest of Alabama Gas Corp (Alagasco) from Energen Corp.