Spark Energy, Inc. (SPKE) Receives Consensus Rating of “Buy” from Analysts
Spark Energy, Inc. (NASDAQ:SPKE) has earned a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $23.00.
Several analysts have recently issued reports on SPKE shares. Guggenheim lowered shares of Spark Energy from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 29th. Zacks Investment Research upgraded shares of Spark Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 24th. FBR & Co reiterated an “outperform” rating and issued a $18.50 target price (up previously from $16.50) on shares of Spark Energy in a research note on Tuesday, May 9th. Ladenburg Thalmann Financial Services upped their target price on shares of Spark Energy from $16.50 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 9th. Finally, TheStreet upgraded shares of Spark Energy from a “c” rating to a “b-” rating in a research report on Monday, May 8th.
Shares of Spark Energy (NASDAQ SPKE) traded down 1.01% during mid-day trading on Monday, reaching $19.60. 185,480 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $36.43 and its 200 day moving average price is $31.63. Spark Energy has a 52-week low of $11.28 and a 52-week high of $23.65. The company has a market cap of $254.78 million, a PE ratio of 39.52 and a beta of -1.65.
Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings results on Monday, May 8th. The utilities provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.21. The business had revenue of $194.35 million for the quarter, compared to the consensus estimate of $140.07 million. Spark Energy had a net margin of 2.10% and a return on equity of 11.82%. On average, equities research analysts predict that Spark Energy will post $1.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 14th. Investors of record on Tuesday, May 30th were given a dividend of $0.1813 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $0.73 annualized dividend and a yield of 3.66%. Spark Energy’s payout ratio is currently 89.02%.
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In other Spark Energy news, Director W Keith Maxwell III acquired 2,400 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were acquired at an average cost of $43.80 per share, with a total value of $105,120.00. Following the completion of the acquisition, the director now directly owns 347,965 shares in the company, valued at $15,240,867. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nathan Kroeker sold 21,244 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $43.13, for a total transaction of $916,253.72. Following the sale, the chief executive officer now directly owns 28,135 shares in the company, valued at $1,213,462.55. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 47,605 shares of company stock valued at $1,815,426. 66.89% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Spark Energy by 10.8% in the first quarter. Vanguard Group Inc. now owns 558,662 shares of the utilities provider’s stock worth $17,849,000 after buying an additional 54,323 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Spark Energy by 4.4% in the first quarter. American Century Companies Inc. now owns 510,504 shares of the utilities provider’s stock worth $16,311,000 after buying an additional 21,403 shares during the last quarter. LSV Asset Management increased its stake in shares of Spark Energy by 89.0% in the first quarter. LSV Asset Management now owns 432,346 shares of the utilities provider’s stock worth $13,813,000 after buying an additional 203,605 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Spark Energy during the first quarter worth about $6,390,000. Finally, Wells Fargo & Company MN increased its stake in shares of Spark Energy by 5.0% in the first quarter. Wells Fargo & Company MN now owns 192,670 shares of the utilities provider’s stock worth $6,157,000 after buying an additional 9,196 shares during the last quarter. 19.55% of the stock is currently owned by institutional investors and hedge funds.
About Spark Energy
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in the United States with an alternative choice for their natural gas and electricity. The Company operates through two segments: Retail Natural Gas Segment and Retail Electricity Segment.
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