Spark Energy Inc. (SPKE) Shares Down 3.3%
Spark Energy Inc. (NASDAQ:SPKE)’s share price traded down 3.3% during mid-day trading on Thursday . The stock traded as low as $31.63 and last traded at $31.63, with a volume of 113,384 shares changing hands. The stock had previously closed at $32.72.
A number of equities analysts recently weighed in on the stock. Wunderlich boosted their price objective on shares of Spark Energy from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, May 6th. FBR & Co boosted their price objective on shares of Spark Energy from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 6th. Janney Montgomery Scott decreased their price objective on shares of Spark Energy from $28.00 to $27.00 and set a “buy” rating for the company in a report on Friday, March 25th. Robert W. Baird restated a “neutral” rating on shares of Spark Energy in a report on Wednesday, March 30th. Finally, Zacks Investment Research upgraded shares of Spark Energy from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a report on Friday, April 22nd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $29.20.
The company has a market capitalization of $190.66 million and a price-to-earnings ratio of 18.86. The firm’s 50 day moving average price is $32.39 and its 200 day moving average price is $25.81.
Spark Energy (NASDAQ:SPKE) last issued its earnings results on Wednesday, May 4th. The company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.30. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company earned $110 million during the quarter, compared to the consensus estimate of $110.44 million. Spark Energy’s revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Spark Energy Inc. will post $1.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were paid a $0.3625 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $1.45 dividend on an annualized basis and a yield of 4.44%.
In other Spark Energy news, Director W Keith Maxwell III sold 21,353 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $30.02, for a total value of $641,017.06. Following the transaction, the director now directly owns 92,850 shares in the company, valued at approximately $2,787,357. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
An institutional investor recently raised its position in Spark Energy stock. Advisors Asset Management Inc. raised its position in shares of Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 63,693 shares of the company’s stock after buying an additional 10,600 shares during the period. Advisors Asset Management Inc. owned about 2.06% of Spark Energy worth $1,320,000 at the end of the most recent quarter.
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in United States with an alternative choice for their natural gas and electricity. The Company operates in two segments: Retail Natural Gas Segment and Retail Electricity Segment.
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