Spark Energy Inc. (SPKE) Sees Unusually-High Trading Volume
Shares of Spark Energy Inc. (NASDAQ:SPKE) saw unusually-high trading volume on Monday . Approximately 229,596 shares changed hands during mid-day trading, an increase of 29% from the previous session’s volume of 178,230 shares.The stock last traded at $30.76 and had previously closed at $32.63.
SPKE has been the topic of a number of research reports. Wunderlich boosted their price target on Spark Energy from $22.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 6th. FBR & Co restated a “buy” rating on shares of Spark Energy in a report on Monday, June 6th. Janney Montgomery Scott cut their price target on Spark Energy from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, March 25th. TheStreet upgraded Spark Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 23rd. Finally, Zacks Investment Research lowered Spark Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.20.
The company has a market cap of $167.29 million and a price-to-earnings ratio of 16.55. The stock’s 50 day moving average price is $32.39 and its 200-day moving average price is $25.81.
Spark Energy (NASDAQ:SPKE) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.30. During the same quarter in the previous year, the company earned $0.80 earnings per share. The company earned $110 million during the quarter, compared to analyst estimates of $110.44 million. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts expect that Spark Energy Inc. will post $1.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.3625 per share. The ex-dividend date was Thursday, May 26th. This represents a $1.45 dividend on an annualized basis and a yield of 5.06%.
In other Spark Energy news, Director W Keith Maxwell III sold 83,780 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $30.71, for a total transaction of $2,572,883.80. Following the completion of the sale, the director now directly owns 92,850 shares in the company, valued at approximately $2,851,423.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Spark Energy stock. Advisors Asset Management Inc. raised its position in Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 2.06% of Spark Energy worth $1,320,000 as of its most recent filing with the SEC.
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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