Spire Management
Management criteria checks 3/4
Spire's CEO is Scott Doyle, appointed in Apr 2025, has a tenure of 1.17 years. total yearly compensation is $3.33M, comprised of 21.1% salary and 78.9% bonuses, including company stock and options. directly owns 0.014% of the company’s shares, worth $667.75K. The average tenure of the management team and the board of directors is 2.7 years and 4.6 years respectively.
Key information
Scott Doyle
Chief executive officer
US$3.3m
Total compensation
| CEO salary percentage | 21.07% |
| CEO tenure | 1.2yrs |
| CEO ownership | 0.01% |
| Management average tenure | 2.7yrs |
| Board average tenure | 4.6yrs |
Recent management updates
Recent updates
Narrative Update • Jun 06
SR: Regulated Expansion And Portfolio Shift Will Support Stronger Future Total Returns
Analysts have trimmed their fair value estimate for Spire slightly from about $98.78 to $98.56 as they update their assumptions for more moderate revenue growth, alongside a somewhat higher profit margin and a steady future P/E multiple. What's in the News Spire completed the acquisition of Piedmont Natural Gas Tennessee, adding over 200,000 customers and new pipeline infrastructure to its regulated utility footprint.Seeking Alpha • May 28
Spire: Unusual Guidance Leads To Sell-Off
Summary Spire, Inc., is undergoing a major transformation, divesting non-core assets and acquiring Piedmont Natural Gas to refocus on regulated utilities. Management's guidance excludes the earnings impact of the Piedmont acquisition, causing confusion and a perceived sharp drop in forward EPS. Consensus estimates likely underestimate SR's true earnings power post-acquisition, creating a misleading V-shaped earnings outlook. I view SR as an attractive long-term "Buy," expecting steady EPS and dividend growth as regulatory clarity and operational focus improve. Read the full article on Seeking AlphaNarrative Update • May 12
SR: Preferred Redemption And Updated Assumptions Will Support Stronger Future Total Returns
Analysts have trimmed their price target for Spire from $99.75 to $98.78 as they factor in updated assumptions that combine higher projected revenue growth with slightly lower profit margins and a modest adjustment to the expected future P/E multiple. What's in the News On February 13, 2026, Spire Inc.Analysis Article • May 11
What You Need To Know About The Spire Inc. (NYSE:SR) Analyst Downgrade Today
The latest analyst coverage could presage a bad day for Spire Inc. ( NYSE:SR ), with the analysts making...Narrative Update • Apr 24
SR: Preferred Redemption And Refined Assumptions Will Support Steady Future Total Returns
Analysts have adjusted their price target on Spire from $98.81 to $99.75, citing updated assumptions around slightly higher revenue growth, profit margins near 11.37%, and a modestly lower future P/E estimate of about 20.11x. What's in the News Spire plans to redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, along with the related depositary shares, at a redemption price of $25.36056 per depositary share.Narrative Update • Apr 10
SR: Preferred Redemption And Steady Assumptions Will Support Future Total Returns
Analysts have nudged their price target for Spire higher from $96.25 to $98.81, citing updated assumptions around slightly different revenue growth, profit margin, and forward P/E expectations. What's in the News Spire plans to redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, including the related depositary shares, on an anticipated redemption date of February 13, 2026, at a redemption price of $25.36056 per depositary share, covering par value and accumulated dividends (Key Developments).Narrative Update • Mar 26
SR: Preferred Redemption And Stable Assumptions Will Support Future Total Returns
Analysts have nudged their price target for Spire slightly higher to $96.25 from $96.13, tying the adjustment to modest tweaks in fair value inputs, revenue growth expectations, profit margin assumptions and the forward P/E framework. What's in the News Spire plans to redeem all 10,000 shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, along with the related depositary shares, on February 13, 2026, at a redemption price of $25.00 per depositary share plus $0.36056 in accumulated and unpaid dividends, for a total of $25.36056 per share (company filing).Narrative Update • Mar 09
SR: Preferred Redemption And Steady Assumptions Will Support Future Total Returns
Analysts have maintained their price target for Spire at $96.13, reflecting largely unchanged assumptions regarding fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Spire plans to redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, including the related depositary shares, on the anticipated redemption date of February 13, 2026 (company filing).Narrative Update • Feb 23
SR: Preferred Redemption And Stable Outlook Will Support Future Total Returns
Analysts have modestly raised their price target on Spire to $96.13 from $94.50. This reflects updated fair value and P/E inputs in their models, while core growth and margin expectations remain broadly consistent.Narrative Update • Feb 07
SR: Higher Dividend And Preferred Redemption Will Support Future Total Returns
Analysts have lifted their price target for Spire to US$94.50 from US$93.44. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that slightly adjust their long term outlook for the business.Narrative Update • Jan 24
SR: Higher Dividend Policy Will Support Attractive Future Total Returns
Narrative Update on Spire Analysts have made a very small adjustment to their price target on Spire to approximately US$93.44. This reflects slightly lower revenue growth assumptions and a modestly higher profit margin outlook within a largely unchanged discount rate and future P/E framework.Narrative Update • Jan 09
SR: Higher Dividend And Stable Outlook Will Support Attractive Future Returns
Analysts have kept their fair value estimate for Spire steady at $93.50, explaining that updated assumptions for discount rate, revenue growth, profit margin, and future P/E are essentially unchanged and do not justify a new price target level. What's in the News The board of directors approved an annual common stock dividend of $3.30 per share, compared with the prior level of $3.14 per share (Key Developments).Narrative Update • Dec 14
SR: Dividend Increase Will Support Attractive Long Term Shareholder Returns
Analysts have raised their price target on Spire to approximately $93.50 per share, reflecting improved confidence in the company’s long term earnings profile, supported by modestly lower perceived risk and stable growth assumptions. What's in the News The board of directors unanimously approved an increase in Spire's annual common stock dividend to $3.30 per share from $3.14, a 5.1 percent raise.Narrative Update • Nov 30
SR: Dividend Hike And Margin Pressures Will Shape Balanced Shareholder Outlook
Analysts have increased their price target for Spire from $89.61 to $93.50. They cite expectations of higher revenue growth, despite a slight decline in projected profit margins and an uptick in anticipated future price-to-earnings ratios.Analysis Article • Nov 24
Spire's (NYSE:SR) Shareholders Will Receive A Bigger Dividend Than Last Year
The board of Spire Inc. ( NYSE:SR ) has announced that the dividend on 5th of January will be increased to $0.825...Analysis Article • Nov 20
Analysts Just Made A Major Revision To Their Spire Inc. (NYSE:SR) Revenue Forecasts
One thing we could say about the analysts on Spire Inc. ( NYSE:SR ) - they aren't optimistic, having just made a major...Narrative Update • Nov 16
SR: Dividend Increase And Modest Adjustments Will Support Steady Shareholder Returns
Narrative Update: Analyst Price Target Shift for Spire Analysts have maintained Spire's fair value estimate at $89.61, citing minor adjustments to growth and profitability expectations that resulted in no change to the overall price target. What's in the News Spire's board of directors has unanimously approved an increase to the annual common stock dividend, raising it to $3.30 per share from $3.14 per share (Key Developments).Narrative Update • Nov 01
SR: Measured Outlook Will Balance Profit Upside And Revenue Slowdown
Narrative Update on Spire: Change in Analyst Price Target Analysts have raised their price target for Spire from $83.69 to $89.61, citing adjusted projections in revenue growth, profit margin, and other key financial metrics. Valuation Changes Fair Value: Increased from $83.69 to $89.61, reflecting a higher assessment of Spire's intrinsic worth.Narrative Update • Oct 18
Modernizing Infrastructure And Tennessee Expansion Will Unlock Capital Opportunities
Spire Analyst Price Target Rises Amid Improved Metrics Analysts have raised their fair value estimate for Spire from $80.36 to $83.69, citing improved financial forecasts and a modest uptick in profitability projections. Valuation Changes Fair Value Estimate has increased from $80.36 to $83.69, reflecting a modest rise.Narrative Update • Oct 04
Modernizing Infrastructure And Tennessee Expansion Will Unlock Capital Opportunities
Analysts have slightly lowered their price target for Spire from $80.93 to $80.36. This reflects a modest adjustment based on updated forecasts for growth and profitability.Analysis Article • Sep 11
Spire Inc. (NYSE:SR) Shares Could Be 20% Below Their Intrinsic Value Estimate
Key Insights Using the 2 Stage Free Cash Flow to Equity, Spire fair value estimate is US$95.64 Spire's US$76.32 share...Analysis Article • Aug 24
With EPS Growth And More, Spire (NYSE:SR) Makes An Interesting Case
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Jul 30
Investors Appear Satisfied With Spire Inc.'s (NYSE:SR) Prospects
There wouldn't be many who think Spire Inc.'s ( NYSE:SR ) price-to-earnings (or "P/E") ratio of 18.1x is worth a...Analysis Article • May 01
What Spire Inc.'s (NYSE:SR) P/E Is Not Telling You
Spire Inc.'s ( NYSE:SR ) price-to-earnings (or "P/E") ratio of 19.2x might make it look like a sell right now compared...Analysis Article • Apr 14
Is Spire Inc. (NYSE:SR) Trading At A 23% Discount?
Key Insights The projected fair value for Spire is US$97.87 based on 2 Stage Free Cash Flow to Equity Spire's US$75.04...Analysis Article • Mar 11
Returns On Capital At Spire (NYSE:SR) Have Hit The Brakes
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically...Analysis Article • Feb 24
Spire (NYSE:SR) Use Of Debt Could Be Considered Risky
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jan 20
Spire Inc.'s (NYSE:SR) Popularity With Investors Is Under Threat From Overpricing
With a median price-to-earnings (or "P/E") ratio of close to 19x in the United States, you could be forgiven for...Analysis Article • Dec 18
Calculating The Intrinsic Value Of Spire Inc. (NYSE:SR)
Key Insights The projected fair value for Spire is US$71.06 based on 2 Stage Free Cash Flow to Equity Spire's US$68.30...Analysis Article • Dec 02
Spire's (NYSE:SR) Upcoming Dividend Will Be Larger Than Last Year's
Spire Inc. ( NYSE:SR ) has announced that it will be increasing its dividend from last year's comparable payment on the...Analysis Article • Nov 28
We Think That There Are Some Issues For Spire (NYSE:SR) Beyond Its Promising Earnings
Following the solid earnings report from Spire Inc. ( NYSE:SR ), the market responded by bidding up the stock price...Analysis Article • Oct 22
These 4 Measures Indicate That Spire (NYSE:SR) Is Using Debt In A Risky Way
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Seeking Alpha • Sep 19
Spire: The High-Yield Preferreds Are The Best Play For This Utility
Summary Spire Inc. is a natural gas utility with 1.7 million customers in Missouri, Mississippi and Alabama. The 4.5% dividend yield is attractive and above the utility industry average of 3.9%. Increases have been around 5.0% the last five years, and another raise will come in December. While Spire's fundamentals are stable, warmer winters and rising interest expenses have negatively impacted earnings, with 2024 projections lowered to $4.15-$4.25 per share. The preferred shares offer the better investment alternative, with a 5.9% yield, especially after the 0.5% Fed rate cut. Read the full article on Seeking AlphaAnalysis Article • Sep 12
Risks To Shareholder Returns Are Elevated At These Prices For Spire Inc. (NYSE:SR)
It's not a stretch to say that Spire Inc.'s ( NYSE:SR ) price-to-earnings (or "P/E") ratio of 16.2x right now seems...
New Narrative • Sep 03
Modernizing Infrastructure And Tactical Cost Management Propel Future Growth
Spire's emphasis on cost management and efficiency is set to enhance operational efficiency and lower overall costs, potentially boosting net margins from 2025.Analysis Article • Aug 25
Spire (NYSE:SR) Has More To Do To Multiply In Value Going Forward
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common...Seeking Alpha • Jul 24
Spire: A Good Utility To Play Defense
Summary Spire Inc. is a reliable natural gas provider in the Southeastern US, with steady earnings and infrastructure investments for growth. The company focuses on gas utility services, with consistent dividend increases and long-term EPS growth, making it a good fit for income investors. Spire's earnings show consistent growth, with net economic earnings and net income increasing, supported by rate increases in states like Alabama and Missouri. Shares are a buy with a price target of $75. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$295m |
| Dec 31 2025 | n/a | n/a | US$272m |
| Sep 30 2025 | US$3m | US$701k | US$257m |
| Jun 30 2025 | n/a | n/a | US$241m |
| Mar 31 2025 | n/a | n/a | US$208m |
| Dec 31 2024 | n/a | n/a | US$223m |
| Sep 30 2024 | US$2m | US$393k | US$236m |
Compensation vs Market: Scott's total compensation ($USD3.33M) is below average for companies of similar size in the US market ($USD6.94M).
Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.
CEO
Scott Doyle (54 yo)
1.2yrs
Tenure
US$3,328,340
Compensation
Mr. Scott Edward Doyle is President, CEO & Director of Spire Inc. from April 24, 2025 and was its Executive VP & COO from January 15, 2024 until April 24, 2025. He joined Spire in January of 2024. He is Ch...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.2yrs | US$3.33m | 0.014% $ 667.8k | |
| Executive VP & CFO | 1.4yrs | US$1.07m | 0.019% $ 866.5k | |
| Senior VP and Chief Customer & Information Officer | 12.2yrs | US$895.28k | 0.024% $ 1.1m | |
| Senior VP & Chief Legal Officer | 2.4yrs | US$978.44k | 0.0084% $ 395.1k | |
| Senior VP & President of Spire Missouri | 2.9yrs | US$811.99k | 0.0067% $ 312.8k | |
| Executive VP & COO | less than a year | no data | 0.017% $ 778.6k | |
| VP & Chief Accounting Officer | 1.4yrs | no data | 0.014% $ 642.5k | |
| Senior VP | 4yrs | no data | 0.0086% $ 399.8k | |
| Managing Director of Investor Relations | 3.4yrs | no data | no data | |
| Managing Director of Communications & Marketing | no data | no data | no data | |
| Chief Financial Officer of Laclede Energy Resources | no data | no data | no data | |
| VP, Chief Governance Officer & Corporate Secretary | 14.1yrs | no data | no data |
2.7yrs
Average Tenure
50yo
Average Age
Experienced Management: SR's management team is considered experienced (2.7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.2yrs | US$3.33m | 0.014% $ 667.8k | |
| Independent Director | 12.3yrs | US$261.78k | 0.034% $ 1.6m | |
| Independent Director | 2.9yrs | US$229.92k | 0.027% $ 1.3m | |
| Independent Director | 4.6yrs | US$229.92k | 0.0059% $ 275.0k | |
| Independent Director | 11.8yrs | US$256.76k | 0.026% $ 1.2m | |
| Independent Director | 19.4yrs | US$253.69k | 0.056% $ 2.6m | |
| Independent Chairman | 10.3yrs | US$349.92k | 0.031% $ 1.4m | |
| Independent Director | 2.2yrs | US$229.92k | 0.0028% $ 129.5k | |
| Independent Director | 2.9yrs | US$229.92k | 0.0094% $ 438.2k |
4.6yrs
Average Tenure
67yo
Average Age
Experienced Board: SR's board of directors are considered experienced (4.6 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/15 11:21 |
| End of Day Share Price | 2026/06/15 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/09/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Spire Inc. is covered by 15 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ross Fowler | BofA Global Research |
| Michael Gaugler | Brean Capital Historical (Janney Montgomery) |
| Alexis Kania | BTIG |