Spark Energy Inc. (SPKE) Trading Up 3%
Spark Energy Inc. (NASDAQ:SPKE) was up 3% during trading on Thursday . The company traded as high as $26.28 and last traded at $24.82, with a volume of 406,610 shares changing hands. The stock had previously closed at $24.10.
A number of equities research analysts have commented on SPKE shares. Robert W. Baird reissued a “neutral” rating on shares of Spark Energy in a report on Wednesday, March 30th. Wunderlich raised Spark Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $20.00 to $22.00 in a report on Thursday, April 7th. Zacks Investment Research downgraded Spark Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. FBR & Co started coverage on Spark Energy in a report on Tuesday, April 26th. They issued an “outperform” rating and a $27.00 target price for the company. Finally, Janney Montgomery Scott downgraded Spark Energy from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Friday, June 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $29.20.
The stock has a market capitalization of $143.27 million and a price-to-earnings ratio of 14.17. The stock has a 50-day moving average of $30.79 and a 200-day moving average of $26.33.
Spark Energy (NASDAQ:SPKE) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.30. The business earned $110 million during the quarter, compared to the consensus estimate of $110.44 million. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts forecast that Spark Energy Inc. will post $1.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be paid a $0.3625 dividend. This represents a $1.45 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Thursday, August 25th.
In other news, Director W Keith Maxwell III sold 83,780 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $30.71, for a total transaction of $2,572,883.80. Following the completion of the transaction, the director now directly owns 92,850 shares of the company’s stock, valued at $2,851,423.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Spark Energy stock. Advisors Asset Management Inc. boosted its stake in shares of Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,693 shares of the company’s stock after buying an additional 10,600 shares during the period. Advisors Asset Management Inc. owned approximately 2.06% of Spark Energy worth $1,320,000 at the end of the most recent reporting period.
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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