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StocksMedium•30 March 2026•

1 min read

Spire Inc. to Sell Gas Marketing Unit for $215 Million to Fund Strategic Growth

Key Facts

1Spire Inc. agreed to sell its gas marketing business unit to Boardwalk Pipelines for $215 million in cash.

2Spire plans to use the proceeds to partially fund the acquisition of the Piedmont Natural Gas Tennessee business.

3Spire reaffirmed its long-term adjusted earnings per share (EPS) growth target of 5-7%.

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Spire Inc. (NYSE: SR) has reached an agreement to sell its gas marketing business unit to Boardwalk Pipelines for $215 million in cash. The divestiture is part of Spire's strategic shift to sharpen its focus on regulated natural gas utility operations and improve its overall risk profile. Proceeds from the sale are earmarked to partially fund the acquisition of Piedmont Natural Gas’s business in Tennessee. Following the announcement, Spire reaffirmed its long-term adjusted earnings per share (EPS) growth target of 5% to 7%. This move simplifies the company's business model toward regulated utilities, which are traditionally favored by investors for their stable returns. The transaction provides immediate liquidity, allowing the company to execute its broader expansion strategy within the energy sector.