Spark Energy, Inc. (NASDAQ:SPKE) VP Gil Melman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $17.20, for a total transaction of $51,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Spark Energy, Inc. (SPKE) traded up 3.71% during mid-day trading on Friday, reaching $18.15. 133,827 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $19.99 and a 200-day moving average of $17.55. Spark Energy, Inc. has a one year low of $11.52 and a one year high of $23.65. The stock has a market cap of $238.58 million, a price-to-earnings ratio of 25.00 and a beta of -1.62.
Spark Energy (NASDAQ:SPKE) last announced its earnings results on Friday, August 4th. The utilities provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.15. The business had revenue of $151.44 million for the quarter, compared to the consensus estimate of $135.72 million. Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. On average, equities research analysts anticipate that Spark Energy, Inc. will post $0.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.1813 per share. The ex-dividend date is Friday, August 25th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.99%. Spark Energy’s dividend payout ratio is presently 107.35%.
Spark Energy declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 24th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the utilities provider to buy up to 19.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Spark Energy from a “buy” rating to a “hold” rating in a report on Friday. FBR & Co reiterated an “outperform” rating and issued a $18.50 price objective (up previously from $16.50) on shares of Spark Energy in a report on Tuesday, May 9th. BidaskClub lowered shares of Spark Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Ladenburg Thalmann Financial Services raised their price objective on shares of Spark Energy from $16.50 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, May 9th. Finally, TheStreet upgraded shares of Spark Energy from a “c” rating to a “b-” rating in a report on Monday, May 8th. 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 stock presently has a consensus rating of “Hold” and an average price target of $23.08.
Several institutional investors have recently made changes to their positions in SPKE. Vanguard Group Inc. increased its position in shares of Spark Energy by 118.4% in the second quarter. Vanguard Group Inc. now owns 1,220,209 shares of the utilities provider’s stock worth $22,941,000 after buying an additional 661,547 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Spark Energy by 85.0% in the second quarter. JPMorgan Chase & Co. now owns 1,226,430 shares of the utilities provider’s stock worth $23,057,000 after buying an additional 563,480 shares in the last quarter. American Century Companies Inc. increased its position in shares of Spark Energy by 108.7% in the second quarter. American Century Companies Inc. now owns 1,065,211 shares of the utilities provider’s stock worth $20,026,000 after buying an additional 554,707 shares in the last quarter. Crow Point Partners LLC increased its position in shares of Spark Energy by 68.1% in the second quarter. Crow Point Partners LLC now owns 1,022,954 shares of the utilities provider’s stock worth $20,203,000 after buying an additional 414,395 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Spark Energy by 90.6% in the second quarter. LSV Asset Management now owns 823,992 shares of the utilities provider’s stock worth $15,491,000 after buying an additional 391,646 shares in the last quarter. Institutional investors own 22.95% of the company’s stock.
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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