Spark Energy Inc. (SPKE) Trading Up 3%
Spark Energy Inc. (NASDAQ:SPKE) shares were up 3% during mid-day trading on Thursday . The stock traded as high as $26.28 and last traded at $24.82, with a volume of 406,610 shares. The stock had previously closed at $24.10.
Several research analysts recently issued reports on SPKE shares. FBR & Co reissued a “buy” rating on shares of Spark Energy in a research note on Monday, June 6th. Janney Montgomery Scott raised shares of Spark Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday. Wunderlich increased their target price 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. Finally, Zacks Investment Research lowered shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Spark Energy has an average rating of “Hold” and an average price target of $29.20.
The firm has a market cap of $144.85 million and a PE ratio of 14.33. The firm has a 50-day moving average of $30.25 and a 200-day moving average of $26.34.
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, topping analysts’ consensus estimates of $0.83 by $0.30. The company had revenue of $110 million for the quarter, compared to analyst estimates of $110.44 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Spark Energy Inc. will post $1.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be given a dividend of $0.3625 per share. The ex-dividend date is Thursday, August 25th. This represents a $1.45 dividend on an annualized basis and a yield of 5.85%.
In other Spark Energy news, Director W Keith Maxwell III sold 204,962 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $31.38, for a total transaction of $6,431,707.56. Following the completion of the sale, the director now directly owns 92,850 shares of the company’s stock, valued at approximately $2,913,633. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Spark Energy stock. Advisors Asset Management Inc. increased its position in Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, according to its most recent disclosure with the SEC. 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 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 for their natural gas and electricity. The Company operates in two segments: Retail Natural Gas Segment and Retail Electricity Segment. It operates in approximately 50 utility service territories across over 20 states and has approximately 328,000 residential customers and over 19,000 commercial customers, which translates to approximately 415,000 renewable energy credits (RCEs).