Spire Inc.
boothcheck covers Spire Inc. (SR) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 11, 2026.
• Spire is the largest natural gas distributor in Missouri, ⟦"serving approximately 1.2 million residential, commercial and industrial customers"⟧ there [FY2025 10-K, accession 0001193125-25-282583], and just added Tennessee: the $2.48 billion purchase of Duke Energy's Piedmont Tennessee gas business closed March 31, 2026 [Source: Spire press release, March 2026]. • The risk concentrates in leverage and weather: interest coverage runs about 2.4 times trailing operating income after the debt-fina
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389 institutional managers reported holding SR in 13F filings for the quarter ended 2026-03-31. Together they hold about 88% of the company; the top 10 hold 48%. 60 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 2.1M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SR's share count grew 14.3% over the past five years. It pays a dividend, and has paid one every year in our records (17 and counting), raised 5 years straight; the current rate is $3.14 a share annually. Cash returned over the past three years: $483.60M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at SR over the trailing three years: 2023: 5 buys totaling $481k; 2024: 4 buys totaling $239k; 2026: 2 buys totaling $79k. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SR's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -2.4% | -6.3% |
| 2023-11-17 | +2.4% | -4.1% |
| 2024-02-02 | +4.0% | +0.5% |
| 2024-05-02 | -0.1% | -2.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SR's latest 8-K filings: 2026-08-05 (items 2.02, 7.01, 9.01); 2026-07-08 (items 7.01, 9.01); 2026-06-30 (items 2.01, 7.01, 9.01); 2026-05-06 (items 2.02, 7.01, 9.01); 2026-05-01 (items 1.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.