Spark Energy Inc. (SPKE) Sees Large Volume Increase
Spark Energy Inc. (NASDAQ:SPKE) shares saw strong trading volume on Wednesday . 536,150 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 356,909 shares.The stock last traded at $24.03 and had previously closed at $23.74.
A number of analysts have recently weighed in on the stock. Janney Montgomery Scott cut shares of Spark Energy from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Friday, June 10th. They noted that the move was a valuation call. FBR & Co restated a “buy” rating on shares of Spark Energy in a research note on Monday, June 6th. 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 research note on Friday, May 6th. Zacks Investment Research cut shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of Spark Energy in a research note on Wednesday, March 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $29.20.
The firm has a market cap of $140.82 million and a PE ratio of 13.93. The stock’s 50 day moving average is $31.01 and its 200 day moving average is $26.34.
Spark Energy (NASDAQ:SPKE) last issued 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 had revenue of $110 million for the quarter, compared to the consensus estimate of $110.44 million. During the same period in the prior year, the business earned $0.80 earnings per share. Spark Energy’s revenue was up 10.1% compared to the same quarter last year. On average, equities research 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. Stockholders of record on Monday, August 29th will be paid a dividend of $0.3625 per share. The ex-dividend date is Thursday, August 25th. This represents a $1.45 annualized dividend and a dividend yield of 6.02%.
In other news, Director W Keith Maxwell III sold 63,720 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $30.91, for a total transaction of $1,969,585.20. Following the completion of the transaction, the director now directly owns 92,850 shares of the company’s stock, valued at approximately $2,869,993.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Spark Energy stock. Advisors Asset Management Inc. raised its stake in Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 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.