Wall Street analysts expect that Spark Energy, Inc. (NASDAQ:SPKE) will announce $188.52 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Spark Energy’s earnings. The highest sales estimate is $199.20 million and the lowest is $177.84 million. Spark Energy reported sales of $158.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The business is expected to announce its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Spark Energy will report full year sales of $188.52 million for the current financial year, with estimates ranging from $737.10 million to $776.52 million. For the next financial year, analysts expect that the company will report sales of $866.91 million per share, with estimates ranging from $841.00 million to $892.82 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Spark Energy.
Spark Energy (NASDAQ:SPKE) last released its earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.15. The company had revenue of $151.44 million for the quarter, compared to analysts’ expectations of $135.72 million. Spark Energy had a net margin of 1.68% and a return on equity of 9.11%.
Several equities research analysts have commented on SPKE shares. Zacks Investment Research lowered shares of Spark Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. FBR & Co reaffirmed an “outperform” rating and issued a $18.50 price target (up from $16.50) on shares of Spark Energy in a report on Tuesday, May 9th. Ladenburg Thalmann Financial Services upped their price target 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. TheStreet raised shares of Spark Energy from a “c” rating to a “b-” rating in a research note on Monday, May 8th. Finally, Wunderlich increased their target price on shares of Spark Energy from $22.00 to $27.50 and gave the stock a “buy” rating in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.08.
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Spark Energy (NASDAQ SPKE) opened at 17.90 on Wednesday. Spark Energy has a 52-week low of $11.52 and a 52-week high of $23.65. The company’s 50-day moving average price is $20.65 and its 200 day moving average price is $17.42. The stock has a market capitalization of $232.68 million, a P/E ratio of 36.09 and a beta of -1.62.
Spark Energy announced that its board has initiated a stock repurchase 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.1813 per share. This represents a $0.73 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, August 25th. Spark Energy’s payout ratio is currently 107.35%.
In other news, CEO Nathan Kroeker sold 21,244 shares of the 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 of the company’s stock, valued at approximately $1,213,462.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director W Keith Maxwell III sold 8,100 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $21.11, for a total transaction of $170,991.00. Following the sale, the director now directly owns 696,180 shares in the company, valued at $14,696,359.80. The disclosure for this sale can be found here. Over the last three months, insiders have bought 47,605 shares of company stock worth $1,815,426 and have sold 172,586 shares worth $4,124,016. Corporate insiders own 66.89% of the company’s stock.
Several large investors have recently bought and sold shares of SPKE. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Spark Energy during the first quarter valued at about $109,000. SG Americas Securities LLC raised its position in shares of Spark Energy by 49.4% in the first quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock worth $183,000 after buying an additional 1,898 shares in the last quarter. Hancock Holding Co. bought a new position in shares of Spark Energy during the first quarter worth $210,000. Nisa Investment Advisors LLC raised its position in shares of 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 in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Spark Energy by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 8,900 shares of the utilities provider’s stock worth $284,000 after buying an additional 100 shares in the last quarter. 22.95% 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 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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