Equities research analysts forecast that Spark Energy Inc (NASDAQ:SPKE) will announce sales of $240.69 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Spark Energy’s earnings, with the highest sales estimate coming in at $241.48 million and the lowest estimate coming in at $239.90 million. Spark Energy reported sales of $215.54 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.7%. The business is scheduled to issue its next quarterly earnings results on Friday, September 14th.
On average, analysts expect that Spark Energy will report full-year sales of $1.00 billion for the current fiscal year. For the next financial year, analysts anticipate that the firm will post sales of $1.01 billion per share, with estimates ranging from $984.84 million to $1.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Spark Energy.
Spark Energy (NASDAQ:SPKE) last issued its earnings results on Thursday, August 2nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $232.25 million during the quarter, compared to analyst estimates of $200.33 million. Spark Energy had a return on equity of 21.26% and a net margin of 1.10%.
SPKE has been the subject of a number of research analyst reports. BidaskClub lowered Spark Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. B. Riley set a $11.00 price objective on Spark Energy and gave the company a “hold” rating in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.50.
In other Spark Energy news, VP Jason K. Garrett sold 20,000 shares of Spark Energy stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $8.75, for a total transaction of $175,000.00. Following the completion of the transaction, the vice president now owns 26,147 shares in the company, valued at approximately $228,786.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gil Melman sold 32,361 shares of Spark Energy stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $8.78, for a total value of $284,129.58. Following the transaction, the vice president now owns 16,962 shares of the company’s stock, valued at approximately $148,926.36. The disclosure for this sale can be found here. Insiders have sold a total of 68,223 shares of company stock valued at $597,922 in the last quarter. Company insiders own 66.89% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in shares of Spark Energy by 8.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 70,089 shares of the utilities provider’s stock valued at $831,000 after acquiring an additional 5,558 shares during the period. Cambria Investment Management L.P. acquired a new stake in shares of Spark Energy during the 1st quarter valued at about $128,000. Nisa Investment Advisors LLC grew its position in shares of Spark Energy by 2,619.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,420 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 11,000 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Spark Energy during the 1st quarter valued at about $135,000. Finally, Wells Fargo & Company MN grew its position in shares of Spark Energy by 3.4% during the 1st quarter. Wells Fargo & Company MN now owns 349,162 shares of the utilities provider’s stock valued at $4,136,000 after acquiring an additional 11,464 shares during the period. Institutional investors and hedge funds own 32.49% of the company’s stock.
Shares of SPKE stock opened at $8.30 on Tuesday. The firm has a market capitalization of $289.49 million, a P/E ratio of -17.29 and a beta of -1.95. The company has a quick ratio of 2.18, a current ratio of 2.20 and a debt-to-equity ratio of 1.01. Spark Energy has a 1 year low of $7.95 and a 1 year high of $17.10.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were paid a dividend of $0.1813 per share. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 8.73%. Spark Energy’s payout ratio is currently -152.08%.
About Spark Energy
Spark Energy, Inc, through its subsidiaries, operates as an independent retail energy services company in the United States. It operates through two segments, Retail Electricity and Retail Natural Gas. The company is involved in the retail distribution of electricity and natural gas to residential, commercial, and industrial customers.
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