Spire Acquires Piedmont Natural Gas for $2.48 Billion

Spire ( (SR) ) has issued an update.

On July 27, 2025, Spire Inc. announced an agreement to acquire Piedmont Natural Gas’s Tennessee local distribution business from Duke Energy for $2.48 billion. This acquisition will expand Spire’s utility footprint and is expected to close in the first quarter of 2026, pending regulatory approvals. The transaction is anticipated to enhance Spire’s earnings per share and support long-term growth, while also increasing its customer base to nearly two million. Spire plans to finance the acquisition through a mix of debt, equity, and potential asset sales, and aims to integrate Piedmont’s operations into its existing business structure.

The most recent analyst rating on (SR) stock is a Hold with a $72.00 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 Outperform.

Spire’s overall stock score is primarily driven by its solid financial performance and balanced earnings call outlook. The company’s stable cash flow and strategic investments support long-term potential, despite challenges like weather and cost pressures. Valuation and technical analysis provide additional stability, making the stock an attractive option for income-focused investors in the regulated gas industry.

To see Spark’s full report on SR stock, click here.

More about Spire

Spire Inc. is one of the largest publicly traded natural gas companies in the United States, serving 1.7 million homes and businesses. Its operations include gas utilities in Alabama, Mississippi, and Missouri, as well as natural gas-related businesses like Spire Marketing and Spire Midstream. The company is committed to growth through infrastructure investment and innovation.

Average Trading Volume: 437,129

Technical Sentiment Signal: Buy

Current Market Cap: $4.47B

Find detailed analytics on SR stock on TipRanks’ Stock Analysis page.