Spark Energy, Inc. Announces Quarterly Dividend of $0.18 (NASDAQ:SPKE)
Spark Energy, Inc. (NASDAQ:SPKE) announced a quarterly dividend on Thursday, July 20th, Wall Street Journal reports. Stockholders of record on Tuesday, August 29th will be given a dividend of 0.1813 per share by the utilities provider on Thursday, September 14th. This represents a $0.73 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, August 25th.
Shares of Spark Energy (NASDAQ SPKE) opened at 20.55 on Friday. Spark Energy has a 1-year low of $11.28 and a 1-year high of $23.65. The stock’s 50 day moving average is $21.07 and its 200 day moving average is $17.00. The company has a market cap of $267.13 million, a P/E ratio of 41.43 and a beta of -1.65.
Spark Energy (NASDAQ:SPKE) last posted its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.21. The company had revenue of $194.35 million for the quarter, compared to analysts’ expectations of $140.07 million. Spark Energy had a return on equity of 11.82% and a net margin of 2.10%. On average, analysts predict that Spark Energy will post $1.41 earnings per share for the current year.
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Spark Energy declared that its board has authorized a share buyback program on Wednesday, May 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the utilities provider to buy up to 19.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of equities analysts recently weighed in on SPKE shares. FBR & Co increased their price objective on shares of Spark Energy from $18.50 to $23.50 and gave the stock an “outperform” rating in a research report on Thursday, June 1st. Guggenheim raised shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Friday, July 7th. Janney Montgomery Scott cut 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 research report on Thursday, June 22nd. Wunderlich increased their price objective 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. Finally, Zacks Investment Research raised shares of Spark Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.00.
In other Spark Energy news, Director W Keith Maxwell III bought 2,400 shares of Spark Energy stock in a transaction on Wednesday, May 31st. The shares were bought at an average cost of $43.80 per share, for a total transaction of $105,120.00. Following the acquisition, the director now directly owns 347,965 shares in the company, valued at $15,240,867. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nathan Kroeker sold 21,244 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $43.13, for a total transaction of $916,253.72. Following 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 quarter, insiders have acquired 47,605 shares of company stock worth $1,815,426. 66.89% of the stock is owned by company insiders.
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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