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: 2026-09-01 (items 1.01, 9.01); 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).
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.