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Spire Inc. - SR STOCK NEWS

Welcome to our dedicated page for Spire news (Ticker: SR), a resource for investors and traders seeking the latest updates and insights on Spire stock.

Spire Inc. (NYSE: SR) is a leading public utility holding company headquartered in St. Louis, Missouri. As one of the largest publicly traded natural gas companies in the United States, Spire serves approximately 1.7 million homes and businesses across Alabama, Mississippi, and Missouri through its regulated gas utilities. The company operates through three primary segments: Gas Utility, Gas Marketing, and Midstream.

Spire's Gas Utility segment focuses on the purchase, retail, distribution, and sale of natural gas. It includes the regulated operations of Laclede Gas, Alabama Gas Corporation (Alagasco), and EnergySouth Inc. This segment generates the majority of the company's revenue, although it faces seasonal fluctuations. The Gas Marketing segment, represented by Laclede Energy Resources, Inc., markets natural gas on a non-regulated basis and engages in related activities, while the Midstream segment handles the transportation and storage of natural gas.

Spire recently announced several key developments. Effective October 1, 2023, Steven L. Lindsey has been appointed as the President and Chief Executive Officer, succeeding Suzanne Sitherwood, who will retire at the end of December 2023. The company has also completed the acquisition of MoGas Pipeline and Omega Pipeline, enhancing its midstream capabilities and extending its service territory.

Financially, Spire has reported solid performance. For fiscal 2023, net income was $217.5 million, with a notable contribution from Gas Marketing driven by favorable market conditions. The fiscal 2024 guidance indicates continued positive outlooks with expected NEE per share between $4.25 and $4.45 and a long-term growth target of 5-7%.

Spire is committed to investing in infrastructure and advancing through innovation. By focusing on delivering reliable, affordable, and safe energy, Spire aims to enhance customer service and shareholder value. The company's ongoing projects include a robust capital investment plan projected to reach $7.3 billion by fiscal 2033, aimed at infrastructure upgrades and expansion of new business ventures within the gas utilities segment.

For more detailed financial results and future projections, visit the Investor Relations section on Spire's website.

News

Spire Announces Launch of $300 Million Debt Offering

Rhea-AI Summary
Spire Inc. (SR) has announced a registered underwritten public offering of $300 million of its Senior Notes due 2026, with $125 million offered by Spire and $175 million offered by certain selling securityholders. The company intends to use the net proceeds to repay existing debt and for general corporate purposes. Wells Fargo Securities, Mizuho, and Morgan Stanley are acting as joint book running managers of the Offering.
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Spire Reports FY24 First Quarter Results

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Spire Inc. reports Q1 fiscal 2024 results with net income of $85.1 million ($1.52 per share) compared to $91.0 million ($1.66 per share) in the prior year. The Gas Utility segment saw growth, while the Gas Marketing and Midstream segments returned to normal market conditions, resulting in lower earnings. Spire expects fiscal 2024 NEE to be in a range of $4.25–$4.45 per share, with a 10-year $7.2 billion capital investment target through fiscal 2033.
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Spire Declares Dividend

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Spire Inc. (NYSE: SR) has declared a quarterly common stock dividend of $0.755 per share, marking the 21st consecutive year of increasing its common stock dividend on an annualized basis. Additionally, a regular quarterly dividend of $0.36875 per depositary share on Spire's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock was declared. The cash dividend has been continuously paid since 1946.
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Rob L. Jones elected board chair of Spire Inc.

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Spire Inc. (SR) announced the election of Rob L. Jones as the new board chair, succeeding Ed Glotzbach. Jones, an industry veteran, brings experience from Bank of America Merrill Lynch Commodities, Inc. and Merrill Lynch & Co. He aims to continue driving growth, upholding Spire's commitment to customers and communities, and creating value for shareholders.
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CorEnergy Closes Sale of MoGas and Omega Pipeline Systems to Spire

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CorEnergy Infrastructure Trust, Inc. announced the sale of its MoGas and Omega pipeline systems to Spire Midstream for $175 million. The transaction resulted in net proceeds of approximately $165 million after taxes and transaction-related costs. The sale allows CorEnergy to significantly de-lever its balance sheet, but the company is currently out of compliance with the NYSE minimum share price requirement and at risk of delisting. The company is evaluating its strategic alternatives regarding its current capital structure.
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Spire completes acquisition of MoGas and Omega pipeline systems

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Spire Inc. (SR) has completed the acquisition of MoGas Pipeline and Omega Pipeline from CorEnergy Infrastructure Trust, Inc. for $175 million. The acquisition will enhance Spire's midstream infrastructure, including Spire Storage and Spire STL Pipeline. Spire MoGas Pipeline LLC will operate under the new legal name after the acquisition. The acquisition will further enhance Spire's ability to serve customers in Missouri, including utility, municipal, industrial, and commercial customers.
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Spire to Host Earnings Conference Call on Feb. 1

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Spire Inc. (NYSE: SR) will host a conference call and webcast on Thursday, Feb. 1 to discuss fiscal 2024 first-quarter results. The earnings news release will be issued before the market opens and will be available on the company's website. The call will be webcast in a listen-only format for the media and public, with a replay available until Mar. 1, 2024.
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Spire, KC Water partner on Kansas City's first renewable natural gas project

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Spire, Inc. (SR) and KC Water partner to repurpose biogas from the Blue River Wastewater Treatment Plant into renewable natural gas (RNG) in Kansas City, Missouri. The project, approved by the Kansas City Council, aims to reduce greenhouse gas emissions by approximately 20,000 tons of CO2 equivalent per year and generate $1 million in revenue for KC Water annually. Spire plans to use the RNG in their natural gas supply for customers and aims to become a carbon-neutral company by midcentury.
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Scott Doyle named Chief Operating Officer of Spire Inc.

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Spire Inc. (NYSE: SR) appoints Scott Doyle as executive vice president and chief operating officer, bringing over 25 years of utility industry experience. With oversight of gas utilities serving more than 1.7 million customers across Alabama, Missouri, and Mississippi, Scott's leadership aims to support the company's 10-year plan, focusing on investing in systems and driving continuous improvement throughout operations.
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Spire named one of Newsweek's 'Most Responsible Companies' for fifth year in a row

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Spire Inc. (SR) has been named one of 'America's Most Responsible Companies' by Newsweek for the fifth consecutive year. The natural gas provider has been recognized for its strong performance in environment, social responsibilities, and corporate governance, placing it among the top 600 companies across 14 industries in the United States.
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FAQ

What is the current stock price of Spire (SR)?

The current stock price of Spire (SR) is $65.62 as of October 24, 2024.

What is the market cap of Spire (SR)?

The market cap of Spire (SR) is approximately 3.8B.

What is Spire Inc.?

Spire Inc. (NYSE: SR) is a public utility holding company that distributes and markets natural gas in the U.S.

What regions does Spire serve?

Spire serves approximately 1.7 million homes and businesses in Alabama, Mississippi, and Missouri.

Who is the current CEO of Spire Inc.?

Effective October 1, 2023, Steven L. Lindsey is the President and CEO of Spire Inc.

What are the main business segments of Spire?

Spire operates through three main segments: Gas Utility, Gas Marketing, and Midstream.

What recent acquisitions has Spire made?

Spire recently acquired MoGas Pipeline and Omega Pipeline to enhance its midstream capabilities.

What are Spire's financial projections for fiscal 2024?

Spire expects fiscal 2024 NEE per share to be between $4.25 and $4.45, with a long-term growth target of 5-7%.

How does Spire contribute to the community?

Spire focuses on delivering reliable, affordable, and safe energy to customers and supports community growth and development.

What is Spire's long-term investment plan?

Spire has a robust capital investment plan projected to reach $7.3 billion by fiscal 2033, focused on infrastructure upgrades and business expansion.

Where can I find more information about Spire's financial results?

Detailed financial results and projections are available in the Investor Relations section of Spire's website.

What is Spire's commitment to innovation?

Spire is committed to advancing through innovation, focusing on infrastructure investment and organic growth to enhance service and shareholder value.

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Spire Inc.

NYSE:SR

SR Rankings

#1448 Ranked by Market Cap
#623 Ranked by Dividends

SR Stock Data

3.79B
57.75M
2.7%
87.84%
2.56%
Utilities - Regulated Gas
Natural Gas Distribution
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United States of America
ST LOUIS