Spire completes transformation into pure-play regulated gas utility

Zacks Investment Research··Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Spire Inc. has completed its transformation into a pure-play regulated gas utility through strategic acquisitions and divestitures. The company sold its Wyoming and Oklahoma natural gas storage businesses for $650 million on June 30, 2026, and Spire Marketing for $215 million on April 30, 2026, with proceeds helping fund the March 31, 2026 acquisition of Piedmont Natural Gas Tennessee. The Tennessee acquisition adds 200,000 customers, 3,800 pipeline miles, and a $1.6 billion rate base, expanding Spire's regulated footprint. Spire also agreed to sell its Mississippi natural-gas business to Delta Utilities for $75 million, expected to close in fiscal 2027. The company plans to invest $11.2 billion over 10 years, supporting 5-7% adjusted EPS growth and rate base growth of 7% in Missouri and 7.5% in Tennessee.

Impact on assets 3

Utilities▲ · 2 stocks
Spire Inc
SR
▲ PositiveCapitalrelevance

Completed transformation into pure-play regulated gas utility, with strategic acquisitions and divestitures, supporting 5-7% adjusted EPS growth

Energy Transition & Power Demand▲ · 1 stocks

Off-coverage companies 2

Delta UtilitiesPrivate▲ Positive
Demandrelevance

Agreed to acquire Spire's Mississippi natural-gas business for $75 million, expanding its regulated footprint

Piedmont Natural Gas TennesseePrivate▲ Positive
Demandrelevance

Acquired by Spire, adding 200,000 customers and $1.6 billion rate base

© 2026 MarketIVNews