Spire Divests Storage Assets to Refocus on Utilities
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Spire ( (SR) ) just unveiled an update.
On April 14, 2026, Spire Midstream LLC agreed to sell all membership interests in Belle Butte LLC, which owns Spire Storage West in Wyoming and Spire Storage Salt Plains in Oklahoma, to Subterra Energy Holdings, an affiliate of I Squared Capital, for $650 million in total consideration. The underground natural gas storage facilities together provide up to 72 billion cubic feet of working gas capacity serving western, midcontinent and midwestern U.S. markets.
The deal, announced publicly on April 15, 2026, is expected to close in the second half of Spire’s fiscal 2026, subject to antitrust and other regulatory approvals and customary closing conditions. Spire plans to use proceeds to help fund its recently closed acquisition of Piedmont Natural Gas’ Tennessee business, further concentrating on its regulated utility operations, reducing its risk profile and underpinning its long-term adjusted earnings growth outlook of 5% to 7% as it exits gas marketing and storage assets.
The most recent analyst rating on (SR) stock is a Buy with a $105.00 price target. To see the full list of analyst forecasts on Spire stock, see the SR Stock Forecast page.
Spark’s Take on SR Stock
According to Spark, TipRanks’ AI Analyst, SR is a Neutral.
The score is held back mainly by weak free cash flow and leverage concerns despite improving profitability. Offsetting positives include a favorable technical uptrend, reasonable valuation with a solid dividend yield, and a supportive earnings update with reaffirmed guidance and strong recent operating performance.
To see Spark’s full report on SR stock, click here.
More about Spire
Spire Inc., headquartered in St. Louis, is one of the largest publicly traded natural gas companies in the U.S., serving nearly 2 million homes and businesses through regulated gas utilities in Alabama, Mississippi, Missouri and Tennessee. Its operations also include natural gas-related businesses such as Spire Marketing and Spire Midstream, with a strategy focused on organic growth, infrastructure investment and continuous improvement.
I Squared Capital is a global mid-market infrastructure investor managing more than $55 billion in assets across sectors including power and utilities, transportation, digital and environmental infrastructure. With over 100 portfolio companies operating in more than 115 countries, the firm targets essential-service platforms and is supporting further growth of the gas storage assets it is acquiring from Spire.
Average Trading Volume: 374,774
Technical Sentiment Signal: Buy
Current Market Cap: $5.46B
For a thorough assessment of SR stock, go to TipRanks’ Stock Analysis page.
