Paul D. Koonce, serving as a director at Spire Inc. (NASDAQ:SR), engaged in a purchase of the company's equity on June 11, 2026. The transaction involved the acquisition of 500 shares of Spire's common stock. The execution price for these shares was recorded at $78.46 per unit. The aggregate value of this specific acquisition totaled $39,230. These shares were not acquired through direct purchase but were obtained indirectly. The holdings are maintained within an Individual Retirement Account (IRA) structure.
The timing of this purchase places it in proximity to the stock's trading activity on that date. The shares were trading at $79.04 at the time of the report. This trading price sits close to the purchase price of $78.46. However, this level remains below the stock's 52-week high, which was recorded at $95.31. Data from InvestingPro analysis indicates that Spire is currently trading above its calculated Fair Value. This valuation metric places the company among those identified on the Most Overvalued list. The company continues to offer a dividend yield of 4.24%. Spire has also demonstrated a history of dividend growth, having raised its payout for 22 consecutive years.
Following the completion of this transaction, the composition of Mr. Koonce's holdings in Spire common stock has been updated. He currently holds 5,540 shares directly. In addition to the new acquisition, he indirectly holds 8,000 shares within his IRA. He also holds 2,425 shares within a revocable trust. The shares located in the revocable trust are under the sole voting and dispositive power of Mr. Koonce.
This insider activity follows the release of Spire Inc.'s second-quarter 2026 earnings. The financial report presented a mixed performance profile. The company reported an adjusted earnings per share (EPS) of $3.76. This figure exceeded the forecasted EPS of $3.63. Conversely, Spire's revenue fell short of expectations. The company recorded revenue of $1.02 billion. The expected revenue was $1.09 billion. This financial update highlighted a robust earnings performance while simultaneously flagging concerns regarding revenue.
Additionally, BofA Securities adjusted its price target for Spire. The target was increased from $93 to $95. The firm maintained a Neutral rating on the stock. BofA acknowledged strong utility growth within the company's operations. However, the firm noted challenges related to a fiscal 2026 reset. These challenges are linked to Missouri weather patterns and usage under-recovery. The earnings increase was attributed to new rates implemented in Missouri and Alabama. The increase also reflects recovery on approximately $1 billion of incremental Missouri rate base. These developments provide a nuanced view of Spire's financial health and market position.