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SR 
Spire Inc (SR)
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Upturn Advisory Summary
01/09/2026: SR (2-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
10 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $93.5
1 Year Target Price $93.5
| 3 | Strong Buy |
| 1 | Buy |
| 6 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 14.55% | Avg. Invested days 50 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.93B USD | Price to earnings Ratio 19.08 | 1Y Target Price 93.5 |
Price to earnings Ratio 19.08 | 1Y Target Price 93.5 | ||
Volume (30-day avg) 10 | Beta 0.69 | 52 Weeks Range 62.82 - 90.20 | Updated Date 01/9/2026 |
52 Weeks Range 62.82 - 90.20 | Updated Date 01/9/2026 | ||
Dividends yield (FY) 3.83% | Basic EPS (TTM) 4.37 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 10.97% | Operating Margin (TTM) 0.93% |
Management Effectiveness
Return on Assets (TTM) 3.01% | Return on Equity (TTM) 8.21% |
Valuation
Trailing PE 19.08 | Forward PE 15.9 | Enterprise Value 10252525338 | Price to Sales(TTM) 1.99 |
Enterprise Value 10252525338 | Price to Sales(TTM) 1.99 | ||
Enterprise Value to Revenue 4.14 | Enterprise Value to EBITDA 12.3 | Shares Outstanding 59095989 | Shares Floating 57609997 |
Shares Outstanding 59095989 | Shares Floating 57609997 | ||
Percent Insiders 2.31 | Percent Institutions 95.29 |
Upturn AI SWOT
Spire Inc
Company Overview
History and Background
Spire Inc. (formerly AGL Resources) was founded in 2000. It is a public utility company based in St. Louis, Missouri. Spire evolved from the merger of various local utility companies, consolidating operations under a single brand to provide natural gas and energy services. Key milestones include its rebranding to Spire Inc. in 2018, signaling a renewed focus on its core utility businesses and growth initiatives.
Core Business Areas
- Utility Operations: This segment encompasses the distribution and sale of natural gas to residential, commercial, and industrial customers. It includes the operation and maintenance of natural gas pipelines, infrastructure, and customer service. Spire operates regulated natural gas utilities in Missouri, Alabama, and Mississippi, serving over 1.7 million customers.
- Gas Marketing: This segment involves the purchase and marketing of natural gas to wholesale customers, primarily other utilities and large industrial users. It operates in a more competitive, non-regulated market and focuses on optimizing natural gas supply and delivery.
Leadership and Structure
Spire Inc. is led by a Board of Directors and a senior management team. Key executives include the Chief Executive Officer (CEO), Chief Financial Officer (CFO), and various operational leaders responsible for specific utility territories and business segments. The company is structured into its regulated utility divisions and its non-regulated gas marketing operations.
Top Products and Market Share
Key Offerings
- Natural Gas Distribution Services: [object Object]
- Natural Gas Marketing and Wholesale Services: [object Object]
Market Dynamics
Industry Overview
The natural gas utility industry is a mature and highly regulated sector characterized by stable, albeit slow, customer growth. The industry is driven by demand for heating, electricity generation, and industrial processes. Regulatory bodies set rates and service standards, ensuring reliability and affordability for consumers. There's a growing emphasis on infrastructure modernization, decarbonization efforts, and the integration of renewable natural gas.
Positioning
Spire Inc. is a well-established regional natural gas utility with a strong presence in its core service territories. Its competitive advantages lie in its regulated monopoly status within these areas, its extensive infrastructure, and its long-standing customer relationships. The company benefits from the essential nature of its services and its commitment to safe and reliable energy delivery.
Total Addressable Market (TAM)
The Total Addressable Market for Spire Inc. is the aggregated demand for natural gas in its current and potential service territories, as well as the broader wholesale natural gas market. For its regulated utilities, the TAM is defined by its service footprints, which are substantial in Missouri, Alabama, and Mississippi. Spire is well-positioned within its specific service areas, holding significant market share due to its regulated status. Its expansion into new territories or acquisition opportunities would further tap into its broader TAM.
Upturn SWOT Analysis
Strengths
- Regulated Monopoly Status: Dominant market position in its core service territories.
- Essential Service: Natural gas is a fundamental energy source, ensuring consistent demand.
- Stable Revenue Streams: Regulated rates provide predictable income.
- Extensive Infrastructure: Well-maintained and growing pipeline network.
- Experienced Management Team: Proven track record in utility operations.
Weaknesses
- Limited Growth Potential in Core Markets: Mature service territories offer slower organic growth.
- Regulatory Dependency: Profitability is subject to regulatory approvals.
- Capital Intensive Operations: Significant ongoing investment required for infrastructure maintenance and upgrades.
- Sensitivity to Commodity Prices (Gas Marketing): Non-regulated segment can be volatile.
Opportunities
- Infrastructure Modernization: Investing in system upgrades to improve safety and efficiency.
- Acquisition and Expansion: Opportunities to acquire other utilities or expand into new service areas.
- Renewable Natural Gas (RNG): Exploring and investing in the development and distribution of RNG.
- Electrification Trends: Developing strategies to retain customers and leverage existing infrastructure amidst electrification.
- LNG Export Opportunities (long-term): Potential to benefit from global LNG market dynamics.
Threats
- Increasing Decarbonization Efforts: Policy shifts and consumer preferences towards lower-carbon alternatives.
- Stringent Environmental Regulations: Potential for new regulations increasing compliance costs.
- Competition from Alternative Energy Sources: Growing adoption of solar, wind, and electric heating solutions.
- Economic Downturns: Reduced industrial and commercial demand during economic slowdowns.
- Cybersecurity Threats: Risk of disruptions to critical infrastructure.
Competitors and Market Share
Key Competitors
- CenterPoint Energy (CNP)
- Atmos Energy (ATO)
- NiSource Inc. (NI)
- WEC Energy Group (WEC)
Competitive Landscape
Spire's primary competitive advantage is its regulated monopoly status in its core service territories, which insulates it from direct competition for natural gas distribution. In its Gas Marketing segment, it faces more direct competition from other energy marketers. Compared to peers like CenterPoint Energy, Atmos Energy, and NiSource, Spire is a significant regional player. Its smaller scale compared to some larger diversified energy companies can be a disadvantage in terms of capital access, but also an advantage in terms of agility and focus.
Major Acquisitions
Alabama Gas Corporation (ALAGASCO)
- Year: 2012
- Acquisition Price (USD millions): 1600
- Strategic Rationale: Acquired from Southern Company, this acquisition significantly expanded Spire's regulated natural gas utility operations into Alabama, diversifying its geographic footprint and customer base.
EnerVest
- Year: 2013
- Acquisition Price (USD millions): 170
- Strategic Rationale: This acquisition added natural gas gathering and processing assets, enhancing Spire's upstream capabilities and providing additional diversification.
Growth Trajectory and Initiatives
Historical Growth: Spire Inc. has experienced consistent, albeit moderate, historical growth, driven by its regulated utility operations and strategic acquisitions. The company has focused on modernizing its infrastructure and expanding its customer base within its existing service territories. The rebranding to Spire Inc. marked a strategic shift towards a more unified and growth-oriented approach.
Future Projections: Analyst projections for Spire Inc. typically anticipate continued modest growth in earnings and revenue, largely driven by rate increases approved by regulators and ongoing capital investment programs. Growth is also expected from strategic initiatives like infrastructure modernization and potentially further acquisitions. The company's focus on reliability and customer service is expected to underpin future performance.
Recent Initiatives: Recent initiatives have included significant investments in pipeline replacement programs to enhance safety and reliability, as well as efforts to explore and integrate renewable natural gas (RNG) into its supply. The company has also focused on operational efficiencies and customer experience improvements.
Summary
Spire Inc. is a stable, regulated utility company with a strong position in its core markets, supported by essential services and consistent demand. Its strengths lie in its monopoly status and reliable infrastructure. However, challenges include limited organic growth in mature territories and the long-term threat of decarbonization. Continued investment in infrastructure modernization and strategic acquisitions are key to its future growth, while navigating evolving energy policies will be crucial.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Spire Inc. Investor Relations
- SEC Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Bloomberg, Reuters)
- Industry Analysis Reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Investment decisions should be made after consulting with a qualified financial advisor and conducting independent research.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Spire Inc
Exchange NYSE | Headquaters Saint Louis, MO, United States | ||
IPO Launch date 1987-11-05 | President, CEO & Director Mr. Scott Edward Doyle | ||
Sector Utilities | Industry Utilities - Regulated Gas | Full time employees 3497 | Website https://www.spireenergy.com |
Full time employees 3497 | Website https://www.spireenergy.com | ||
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas. In addition, the company engages in the operation of propane through its propane pipeline, risk management, and other activities. Spire Inc. was formerly known as The Laclede Group, Inc. and changed its name to Spire Inc. in April 2016. Spire Inc. was founded in 1857 and is based in Saint Louis, Missouri.
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