Spire Inc. (SR)

Spire Inc.'s stock has trended down by 4.44% over the past six months. Spire reported its Q2 fiscal 2026 results on May 6, 2026, with adjusted earnings per share of $3.76, surpassing analyst estimates of $3.70, but revenue of $1.02 billion missed the consensus estimate of $1.09 billion. Spire completed the acquisition of Piedmont Natural Gas's Tennessee business for $2.48 billion on March 31, 2026, and announced strategic divestitures, including the sale of Spire Marketing to Boardwalk Pipelines for $215 million. Spire has consistently paid dividends, increasing the rate by over 3% from $3.14 to $3.30 on November 14, 2025. New rates became effective in Missouri in October 2025, and Spire received approval for a $16.5 million increase in its Infrastructure System Replacement Surcharge in March 2026.

Demand for Spire Inc.'s products and services is seasonal, with earnings concentrated during the heating season from November to April. Customer usage of natural gas is higher during colder months for heating purposes. The company's Q2 fiscal 2026 results were impacted by unusually mild winter weather in Missouri.

Spire Inc. is a regional public utility holding company focused on the natural gas sector. It purchases, distributes, and sells natural gas to customers in the United States. Spire operates through three segments: Gas Utility, Gas Marketing, and Midstream. The Gas Utility segment includes regulated operations of subsidiaries like Spire Missouri and Spire Alabama. The Gas Marketing segment provides natural gas marketing services, and the Midstream segment is involved in natural gas transportation and storage.

Spire's regulated natural gas utility operations primarily serve Missouri, Alabama, Mississippi, and Tennessee. Spire Missouri is the largest natural gas distributor in Missouri, serving approximately 631,000 customers. Its midstream operations extend to the U.S. Rockies and Gulf Coast regions.

Spire Inc. has maintained a generally positive brand reputation, particularly concerning its operational reliability and customer focus. Customer satisfaction metrics have remained stable, and management emphasizes reliable service delivery and infrastructure resilience. An investigation by Missouri utility regulators concluded in January 2025 that there was no wrongdoing by Spire, stating that "there were no issues of illegalities found". Analyst sentiment towards Spire Inc. is generally positive, with a consensus recommendation of "Moderate Buy" from eleven research firms.

Institutional investors predominantly hold Spire Inc.'s shares, accounting for 85.30% to 90.83% of the company. Key institutional stakeholders include BlackRock, Inc., and Vanguard Group Inc. The largest individual shareholder is Robert P. Stupp, owning 1.97% of the company. Individual insiders account for 6.21% of Spire's stock, with retail investors holding the remaining 8.49%.