Spire Inc Stock Price, News & Analysis

Spire Inc. (NYSE: SR) has announced a significant acquisition agreement with Duke Energy's Piedmont Natural Gas, purchasing its Tennessee operations for $2.48 billion. The transaction, expected to close in Q1 2026, represents a 1.5x multiple of estimated 2026 rate base.

The acquisition will add over 200,000 customers in the Nashville area and nearly 3,800 miles of distribution and transmission pipelines to Spire's portfolio. This expansion will increase Spire's utility customer base to nearly two million homes and businesses, complementing its existing operations in Missouri, Alabama, and Mississippi.

The deal will be financed through a mix of debt, equity, and hybrid securities, supported by a bridge facility from BMO Capital Markets Corp. Spire expects the acquisition to be accretive to adjusted earnings and support its long-term 5-7% adjusted EPS growth target.

Duke Energy (NYSE: DUK) has announced the sale of its Piedmont Natural Gas Tennessee business to Spire Inc. for $2.48 billion in cash. The transaction, expected to close in Q1 2026, represents a 1.8x multiple of 2024 rate base and a 24x multiple of 2024 earnings. The sale includes nearly 3,800 miles of pipelines and a liquefied natural gas facility serving 205,000 customers.

Of the proceeds, $800 million will offset Piedmont Natural Gas debt, while the remaining $1.5 billion will help fund Duke Energy's $83 billion five-year capital plan. The company plans to utilize existing tax credits to offset most cash taxes from the transaction. Current employees supporting the Tennessee business will transition to Spire to maintain operational continuity.

Spire (NYSE: SR) has scheduled its fiscal year 2025 third quarter earnings conference call for August 5, 2025, at 10:00 AM CT. The company will release its financial results and earnings guidance before the market opens on the same day.

The conference call will be accessible via phone for U.S. and Canadian participants at 844-824-3832 and for international callers at 412-317-5142. A webcast will also be available for media and public in listen-only format on the company's investor relations website. A replay will be accessible until August 12, 2025, through both phone and website options.

Spire reported strong fiscal 2025 second quarter results with adjusted earnings of $214.4 million ($3.60 per share), up from $196.6 million ($3.45 per share) last year. The company's Gas Utility segment saw earnings growth to $195.2 million, while Midstream operations significantly improved to $15.8 million due to enhanced storage capacity and higher contract rates.

Key financial highlights:

• Net income reached $209.3 million ($3.51 per share)
• Gas Marketing earnings slightly decreased to $14.8 million
• Company reaffirmed fiscal 2025 guidance of $4.40-$4.60 per share

Spire's growth strategy includes a $7.4 billion capital investment plan through 2034, with fiscal 2025 capital expenditures increased to $840 million. The company expects 5-7% long-term adjusted earnings growth, supported by 7-8% rate base growth at Spire Missouri and 6% equity growth at Spire Alabama and Gulf operations.

Spire Inc. (NYSE: SR) has announced the immediate appointment of Scott Doyle as its new president and chief executive officer, replacing Steve Lindsey who has resigned from his role and the Board of Directors. Doyle, who previously served as Spire's executive vice president and chief operating officer, will also join the Board of Directors.

Doyle brings extensive industry experience, having led Spire's gas utilities serving over 1.7 million customers across Alabama, Missouri and Mississippi. Before joining Spire in January 2024, he was executive vice president of utility operations at CenterPoint Energy, where he managed electric and natural gas operations serving seven million customers across multiple states.

The company emphasized that this leadership transition is not related to any material or unexpected financial events. Doyle confirmed that Spire's strategy remains unchanged, with continued focus on system modernization and operational excellence.

Spire Inc. (NYSE: SR) has announced its quarterly dividend payments. The company declared a common stock dividend of $0.785 per share, payable July 2, 2025, to shareholders of record on June 11, 2025. This marks Spire's 22nd consecutive year of increasing its annualized common stock dividend, with an unbroken dividend payment streak since 1946.

Additionally, Spire declared a quarterly dividend of $0.36875 per depositary share on its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, payable August 15, 2025, to holders of record on July 25, 2025. The company serves 1.7 million homes and businesses through its gas utilities in Alabama, Mississippi, and Missouri.

Spire Inc. (NYSE: SR) has announced it will host a conference call and webcast on Wednesday, April 30, 2025 to discuss its fiscal 2025 second quarter financial results and earnings guidance. The company will release its financial results before the market opens on the same day.

The conference call is scheduled for 9 a.m. CT (10 a.m. ET). Participants can join via phone using the following numbers: U.S. and Canada: 844-824-3832, International: 412-317-5142. A webcast will be available in listen-only format through the company's investor relations website.

A replay of the call will be accessible until May 7, 2025, through various numbers: U.S. (877-344-7529), Canada (855-669-9658), and International (412-317-0088), using replay access code 5397934. The webcast replay will also be available on the company's investor website.

Spire Inc. (NYSE: SR) reported its fiscal 2025 first quarter results with net income of $81.3 million ($1.34 per diluted share), down from $85.1 million ($1.52 per share) in the previous year. Adjusted earnings were $81.1 million ($1.34 per share) compared to $82.7 million ($1.47 per share) year-over-year.

The Gas Utility segment saw increased earnings at Spire Alabama and Spire Gulf, offset by lower Spire Missouri earnings. Midstream earnings grew due to additional capacity and higher-rate contract renewals at Spire Storage. Gas Marketing earnings declined due to market conditions.

The company affirmed its fiscal 2025 adjusted earnings guidance range of $4.40–$4.60 per share. Spire maintains its 10-year $7.4 billion capital investment target through fiscal 2034, with expected fiscal 2025 capital expenditures of $790 million.

Spire Inc. (NYSE: SR) has announced its quarterly dividend payments. The company declared a common stock dividend of $0.785 per share, payable April 2, 2025, to shareholders of record on March 11, 2025. This marks Spire's 22nd consecutive year of increasing its annual common stock dividend, maintaining an unbroken dividend payment streak since 1946.

Additionally, Spire declared a quarterly dividend of $0.36875 per depositary share on its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, with payment scheduled for May 15, 2025, to holders of record on April 25, 2025.