Spire Inc. (NYSE: SR) has announced the sale of its gas marketing business, Spire Marketing Inc., to Boardwalk Pipelines, LP for a cash consideration of $215 million. The transaction, which is expected to close in the third fiscal quarter of 2026, is subject to regulatory approvals and customary closing conditions. The proceeds from this sale are anticipated to be utilized to partially fund the acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposes. This strategic move is aimed at sharpening Spire's focus on its core regulated natural gas utility operations, thereby improving its risk profile and enhancing long-term earnings visibility. The sale is expected to simplify Spire's business mix and reaffirm its long-term adjusted earnings per share (EPS) growth target of 5-7%, using the original fiscal 2027 adjusted EPS midpoint as a base. Spire's leadership expressed gratitude towards the employees of Spire Marketing for their contributions and dedication over the years. The company continues to evaluate the sale of its natural gas storage facilities to further fund the acquisition and plans to provide updates during its upcoming earnings conference call in May 2026. This transaction is seen as a positive step forward for both Spire and Boardwalk Pipelines, with both companies looking to strengthen their positions in the natural gas market.

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