Spire Divests Gas Marketing Unit to Boardwalk Pipelines

Spire ( (SR) ) just unveiled an announcement.

Spire Inc. has completed the sale of its gas marketing subsidiary, Spire Marketing Inc., to Boardwalk Pipelines, LP for $215 million in cash, with the transaction effective April 30, 2026. The deal followed regulatory approvals and a conversion of Spire Marketing into a Delaware limited liability company, aligning Spire more tightly with its core regulated natural gas utility operations.

Employees and clients of Spire Marketing will move to Boardwalk’s newly created business unit, Boardwalk Continuum Marketing, LLC, which will continue marketing and trading activities under existing leadership. Spire is using the sale proceeds in part to fund its acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposes, a move expected to improve its risk profile and support more stable, long-term earnings for stakeholders.

Boardwalk positions Boardwalk Continuum Marketing as a strengthened North American natural gas marketer that can offer differentiated, market-responsive services across the natural gas value chain. Customers of the former Spire Marketing are being promised continuity of service and a seamless transition, while benefiting from integration into Boardwalk’s broader natural gas platform and network of storage and transportation capacity.

The most recent analyst rating on (SR) stock is a Buy with a $100.00 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 driven primarily by mixed financial performance: strong and improving profitability is offset by consistently negative free cash flow and leverage overhang. Valuation is supportive at a moderate P/E, while technical indicators point to weak near-term momentum. The earnings call and recent corporate actions are constructive (reaffirmed guidance and utility-focused reshaping), but execution and financing-related risks remain.

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

More about Spire

Spire Inc., listed on the NYSE under the ticker SR, is one of the largest publicly traded natural gas utilities in the U.S., serving nearly 2 million residential and business customers across Alabama, Mississippi, Missouri and Tennessee. The company focuses on safely and reliably delivering natural gas, growing organically, investing in infrastructure and driving continuous operational improvement in its regulated utility businesses.

Boardwalk Pipelines, LP operates an integrated network of interstate and intrastate natural gas pipelines and underground storage assets across regions including the Gulf Coast, Midwest and Southeast. The company connects natural gas supply with key markets and communities, emphasizing safe, reliable and responsible operations while expanding its capabilities to meet evolving customer needs in a complex energy landscape.

Boardwalk Continuum Marketing, a business unit within Boardwalk, is a North American natural gas marketer focused on purchasing and delivering gas to producers, midstream operators, pipelines, storage operators, load-serving entities, large industrial users and select retail accounts. Leveraging Boardwalk’s transportation and storage network, it offers scale, market presence and commercial capabilities across the natural gas value chain.

Average Trading Volume: 366,851

Technical Sentiment Signal: Buy

Current Market Cap: $5.3B

See more data about SR stock on TipRanks’ Stock Analysis page.