James G. Jones II Acquires 1,000 Shares of Spark Energy, Inc. (SPKE) Stock
Spark Energy, Inc. (NASDAQ:SPKE) Director James G. Jones II purchased 1,000 shares of Spark Energy stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $16.39 per share, for a total transaction of $16,390.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Spark Energy, Inc. (NASDAQ:SPKE) traded down 0.31% during mid-day trading on Tuesday, reaching $16.25. 95,389 shares of the company’s stock were exchanged. The firm has a market cap of $213.61 million, a P/E ratio of 22.38 and a beta of -1.62. Spark Energy, Inc. has a 52-week low of $11.52 and a 52-week high of $23.65. The company has a 50 day moving average price of $19.28 and a 200 day moving average price of $17.82.
Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.15. Spark Energy had a return on equity of 9.13% and a net margin of 1.68%. The business had revenue of $151.44 million during the quarter, compared to the consensus estimate of $135.72 million. Analysts forecast that Spark Energy, Inc. will post $0.89 earnings per share for the current fiscal year.
Spark Energy announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the utilities provider to reacquire up to 19.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 29th will be given a $0.1813 dividend. This represents a $0.73 annualized dividend and a yield of 4.46%. The ex-dividend date is Friday, August 25th. Spark Energy’s dividend payout ratio is presently 107.35%.
A number of large investors have recently made changes to their positions in SPKE. State Street Corp boosted its stake in shares of Spark Energy by 6.2% in the fourth quarter. State Street Corp now owns 105,493 shares of the utilities provider’s stock valued at $3,194,000 after buying an additional 6,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Spark Energy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 109,975 shares of the utilities provider’s stock worth $3,332,000 after buying an additional 500 shares during the period. Teachers Advisors LLC boosted its position in Spark Energy by 98.9% in the fourth quarter. Teachers Advisors LLC now owns 13,454 shares of the utilities provider’s stock worth $408,000 after buying an additional 6,691 shares during the period. Nisa Investment Advisors LLC boosted its position in Spark Energy by 1,652.5% in the first quarter. Nisa Investment Advisors LLC now owns 7,010 shares of the utilities provider’s stock worth $224,000 after buying an additional 6,610 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Spark Energy by 92.2% in the first quarter. Acadian Asset Management LLC now owns 65,302 shares of the utilities provider’s stock worth $2,086,000 after buying an additional 31,319 shares during the period. Institutional investors own 35.98% of the company’s stock.
Several analysts recently issued reports on SPKE shares. TheStreet upgraded shares of Spark Energy from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Wunderlich increased their price target on shares of Spark Energy from $22.00 to $27.50 and gave the stock a “buy” rating in a research report on Monday, June 12th. FBR & Co set a $24.00 price target on shares of Spark Energy and gave the stock a “buy” rating in a research report on Monday, July 10th. Guggenheim upgraded shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Friday, July 7th. Finally, Janney Montgomery Scott set a $22.00 price target on shares of Spark Energy and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.08.
About Spark Energy
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers across 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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