SR
Spire and I Squared announce agreement for sale of natural gas storage assets for $650 million
Article Summary
BUY- Spire Inc. (NYSE: SR) and I Squared Capital announced they have entered into an agreement in which ISquared will acquire Spire's natural gas storage assets in Wyoming and Oklahoma for $650 million, consisting of $600 million in cash at closing and a $50 million deferred payment to be received in Spire's fiscal 2027.
- The transaction represents another important step in sharpening our focus on our core regulated natural gas utility businesses, with proceeds from the transaction expected to partially fund the acquisition of the Piedmont Natural Gas Tennessee business, which closed on March 31, 2026, and completes its related financing plan.
- Spire Storage consists of Spire storage West in southwestern Wyoming with two storage fields certificated to provide up to 55 Bcf of working gas capacity to customers primarily in western U.S., and storage Salt Plains in north central Oklahoma serving markets in the midcontinent and midwestern United States.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 2.6% | 25% | 20.0 ptsMinimal (2.6%) - Very weak |
| EPS Growth Next 5Y ? | 11.9% | 25% | 35.0 ptsBelow Screener (11.9%) - Modest outlook |
| Target Price Upside ? | 7.9% | 20% | 35.0 ptsBelow Screener (7.9%) - Target: $99.94 vs Current: $92.61 |
| Gross Margin % ? | 29.6% | 15% | 40.0 ptsModerate (29.6%) - Adequate margins |
| Drawdown from 52-Wk High ? | -2.8% | 15% | 20.0 ptsBarely a Dip (-2.8%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About SR
- 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.