Brokerages Anticipate Spark Energy, Inc. (SPKE) to Post $0.41 Earnings Per Share
Equities research analysts expect that Spark Energy, Inc. (NASDAQ:SPKE) will post $0.41 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Spark Energy’s earnings. Spark Energy reported earnings per share of ($0.02) in the same quarter last year, which would suggest a positive year over year growth rate of 2,150%. The company is scheduled to announce its next earnings report on Thursday, November 9th.
On average, analysts expect that Spark Energy will report full-year earnings of $1.28 per share for the current year, with EPS estimates ranging from $1.25 to $1.30. For the next financial year, analysts expect that the business will post earnings of $1.59 per share, with EPS estimates ranging from $1.50 to $1.67. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Spark Energy.
Spark Energy (NASDAQ:SPKE) last posted its quarterly earnings results 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). Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. The business had revenue of $151.44 million during the quarter, compared to analyst estimates of $135.72 million.
SPKE has been the topic of several recent research reports. FBR & Co upped their price target on Spark Energy from $18.50 to $23.50 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Guggenheim raised Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Friday, July 7th. Janney Montgomery Scott cut Spark Energy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $22.95 to $24.00 in a research note on Thursday, June 22nd. Wunderlich upped their price target on Spark Energy from $22.00 to $27.50 and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, Zacks Investment Research raised Spark Energy from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, August 2nd. One investment 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 presently has an average rating of “Hold” and a consensus price target of $23.08.
In related news, CEO Nathan Kroeker bought 1,775 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $26.30 per share, with a total value of $46,682.50. Following the completion of the purchase, the chief executive officer now owns 1,000 shares in the company, valued at approximately $26,300. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director W Keith Maxwell III acquired 21,900 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average cost of $15.76 per share, for a total transaction of $345,144.00. Following the completion of the transaction, the director now directly owns 796,299 shares of the company’s stock, valued at $12,549,672.24. The disclosure for this purchase can be found here. Over the last three months, insiders bought 105,144 shares of company stock worth $1,666,888 and sold 154,342 shares worth $3,259,362. Corporate insiders own 66.89% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Highland Capital Management LLC purchased a new stake in shares of Spark Energy during the second quarter valued at $194,000. Bessemer Group Inc. boosted its position in shares of Spark Energy by 100.0% during the second quarter. Bessemer Group Inc. now owns 26,600 shares of the utilities provider’s stock valued at $500,000 after buying an additional 13,300 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Spark Energy by 5.0% during the first quarter. Wells Fargo & Company MN now owns 192,670 shares of the utilities provider’s stock valued at $6,157,000 after buying an additional 9,196 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Spark Energy during the first quarter valued at $316,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Spark Energy by 379.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 83,100 shares of the utilities provider’s stock valued at $1,565,000 after buying an additional 65,781 shares during the last quarter. 35.98% of the stock is currently owned by institutional investors.
Shares of Spark Energy (NASDAQ:SPKE) traded up 2.42% during trading on Wednesday, reaching $16.90. The company’s stock had a trading volume of 169,227 shares. Spark Energy has a one year low of $11.52 and a one year high of $23.65. The stock’s 50 day moving average is $17.40 and its 200 day moving average is $18.11. The firm has a market cap of $222.15 million, a P/E ratio of 23.28 and a beta of -1.57.
Spark Energy announced that its board has approved a share repurchase program on Wednesday, May 24th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the utilities provider to repurchase up to 19.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 29th were paid a $0.1813 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.29%. Spark Energy’s dividend payout ratio is currently 107.35%.
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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