ST. LOUIS - Spire Inc. (NYSE: NYSE:SR), a major natural gas company, has announced the expansion of its board of directors from nine to ten members and the election of Sheri S. Cook as its newest board member effective today.
Cook, 56, is currently the senior vice president and chief administration officer at Altec Inc., a company providing products and services to the utility and telecommunications sectors.
Her responsibilities at Altec include overseeing human resources, information services, and the administration for the Altec/Styslinger Foundation. With a background that spans economics, finance, and the energy industry, Cook brings a diverse set of skills to the Spire board.
Her previous experience includes various roles at Altec Inc., Sonat Inc., and Protective Life Corp., as well as co-founding Kinetic Partners, LLC, a firm specializing in energy project management, consulting, and investment. Spire board chair Rob L. Jones expressed confidence in Cook's addition to the board, citing her leadership experience and valuable insight.
Cook's academic credentials include graduating summa cum laude from Vanderbilt University, earning a Master of Business Administration from the University of Virginia's Colgate Darden (NYSE:DRI) School of Business, and a Master of Accounting from the University of Alabama-Birmingham's Collat School of Business.
Beyond her corporate roles, Cook is actively involved in the Birmingham community, serving on several boards including the United Way of Central Alabama, the McWane Science Center Endowment, and the Ascension St. Vincent's Foundation Endowment, among others.
Spire Inc. serves 1.7 million homes and businesses across Alabama, Mississippi, and Missouri and operates Spire Marketing and Spire Midstream. The company focuses on organic growth, infrastructure investment, and innovation.
The information in this article is based on a press release statement from Spire Inc.
InvestingPro Insights
As Spire Inc. (NYSE: SR) welcomes Sheri S. Cook to its board of directors, the company's financial health and growth prospects remain a focal point for investors. According to InvestingPro data, Spire currently has a market capitalization of $3.52 billion and a Price/Earnings (P/E) ratio of 16.39.
This valuation metric is slightly adjusted to a P/E ratio of 17.83 when considering the last twelve months as of Q1 2024, indicating a modest increase in the company's earnings valuation over the period.
The company's commitment to shareholder returns is highlighted by an impressive track record of dividend growth, having raised its dividend for 20 consecutive years, a testament to its financial stability and management's confidence in future cash flows. This is further bolstered by a dividend yield of 4.92%, which is attractive to income-focused investors.
InvestingPro Tips also suggest that analysts are optimistic about Spire's future, with two analysts having revised their earnings estimates upwards for the upcoming period. This could be indicative of Spire's potential to navigate through its significant debt burden and short-term liquidity challenges, as the company continues to focus on growth and innovation in the energy sector.
For investors seeking more in-depth analysis and additional InvestingPro Tips, which number over six for Spire Inc., a visit to InvestingPro can provide a wealth of information. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable insights and data.
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