BidaskClub downgraded shares of Spark Energy, Inc. (NASDAQ:SPKE) from a buy rating to a hold rating in a research note released on Wednesday, July 12th.
A number of other research firms have also recently weighed in on SPKE. Zacks Investment Research raised shares of Spark Energy from a sell rating to a hold rating in a research note on Wednesday, May 24th. TheStreet raised shares of Spark Energy from a c rating to a b- rating in a research note on Monday, May 8th. Guggenheim lowered shares of Spark Energy from a buy rating to a neutral rating in a report on Wednesday, March 29th. FBR & Co restated a buy rating on shares of Spark Energy in a report on Tuesday, April 4th. Finally, Janney Montgomery Scott lowered shares of Spark Energy from a buy rating to a neutral rating and increased their price objective for the stock from $22.95 to $24.00 in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Spark Energy currently has a consensus rating of Hold and a consensus price target of $23.08.
Spark Energy (NASDAQ SPKE) traded up 3.71% during mid-day trading on Wednesday, reaching $18.15. 133,827 shares of the company traded hands. Spark Energy has a 52 week low of $11.52 and a 52 week high of $23.65. The firm has a market capitalization of $238.58 million, a price-to-earnings ratio of 25.00 and a beta of -1.62. The stock’s 50 day moving average price is $20.11 and its 200 day moving average price is $17.53.
Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.15. The firm had revenue of $151.44 million during the quarter, compared to analyst estimates of $135.72 million. Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. Equities analysts forecast that Spark Energy will post $0.68 EPS for the current year.
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Spark Energy declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the utilities provider to purchase up to 19.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.1813 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Friday, August 25th. Spark Energy’s payout ratio is currently 107.35%.
In related news, Director W Keith Maxwell III bought 10,100 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $36.23 per share, for a total transaction of $365,923.00. Following the completion of the purchase, the director now owns 310,710 shares of the company’s stock, valued at approximately $11,257,023.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nathan Kroeker sold 21,244 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $43.13, for a total value of $916,253.72. Following the completion of the sale, the chief executive officer now owns 28,135 shares in the company, valued at $1,213,462.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 51,380 shares of company stock worth $1,914,818 and have sold 175,586 shares worth $4,175,616. Company insiders own 66.89% of the company’s stock.
A number of large investors have recently bought and sold shares of SPKE. Dimensional Fund Advisors LP boosted its stake in Spark Energy by 100.0% in the second quarter. Dimensional Fund Advisors LP now owns 219,950 shares of the utilities provider’s stock worth $4,135,000 after buying an additional 109,975 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Spark Energy during the second quarter worth $237,000. Hancock Holding Co. boosted its stake in shares of Spark Energy by 100.0% in the second quarter. Hancock Holding Co. now owns 13,130 shares of the utilities provider’s stock worth $247,000 after buying an additional 6,565 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Spark Energy by 134.3% in the second quarter. Parametric Portfolio Associates LLC now owns 117,545 shares of the utilities provider’s stock worth $2,210,000 after buying an additional 67,382 shares in the last quarter. Finally, Globeflex Capital L P boosted its stake in shares of Spark Energy by 92.4% in the second quarter. Globeflex Capital L P now owns 106,562 shares of the utilities provider’s stock worth $2,003,000 after buying an additional 51,181 shares in the last quarter. Institutional investors own 22.95% of the company’s stock.
Spark Energy Company Profile
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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