Spark Energy Inc (NASDAQ:SPKE) – Equities researchers at B. Riley lowered their Q4 2018 EPS estimates for Spark Energy in a research note issued on Wednesday, November 7th. B. Riley analyst C. Driscoll now forecasts that the utilities provider will post earnings of $0.17 per share for the quarter, down from their prior estimate of $0.27. B. Riley currently has a “Hold” rating on the stock. B. Riley also issued estimates for Spark Energy’s Q4 2019 earnings at $0.19 EPS and FY2020 earnings at $0.20 EPS.
Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings results on Friday, November 2nd. The utilities provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.31. The company had revenue of $258.48 million for the quarter, compared to analysts’ expectations of $240.69 million. Spark Energy had a net margin of 1.38% and a return on equity of 11.17%.
SPKE has been the topic of several other reports. BidaskClub upgraded shares of Spark Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 29th. Zacks Investment Research upgraded shares of Spark Energy from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Spark Energy has a consensus rating of “Hold” and an average price target of $12.58.
NASDAQ SPKE opened at $9.22 on Thursday. Spark Energy has a 1 year low of $7.33 and a 1 year high of $13.95. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.18 and a current ratio of 2.36. The company has a market capitalization of $297.16 million, a price-to-earnings ratio of -19.21 and a beta of -1.48.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.1813 dividend. This represents a $0.73 annualized dividend and a yield of 7.86%. The ex-dividend date of this dividend is Thursday, November 29th. Spark Energy’s dividend payout ratio is presently -152.08%.
In other news, VP Gil Melman sold 15,862 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $8.75, for a total value of $138,792.50. Following the transaction, the vice president now owns 1,100 shares of the company’s stock, valued at approximately $9,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Keith Maxwell III purchased 97,380 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was bought at an average cost of $8.89 per share, for a total transaction of $865,708.20. Following the acquisition, the director now directly owns 1,225,831 shares in the company, valued at $10,897,637.59. The disclosure for this purchase can be found here. Insiders acquired a total of 277,478 shares of company stock worth $2,337,792 over the last quarter. Corporate insiders own 66.89% of the company’s stock.
Several large investors have recently modified their holdings of the company. Trexquant Investment LP bought a new position in shares of Spark Energy in the 3rd quarter worth $110,000. Cim Investment Mangement Inc. bought a new position in shares of Spark Energy in the 3rd quarter worth $199,000. JPMorgan Chase & Co. increased its holdings in shares of Spark Energy by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,022,946 shares of the utilities provider’s stock worth $8,440,000 after buying an additional 11,585 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Spark Energy by 175.5% in the 2nd quarter. Millennium Management LLC now owns 574,173 shares of the utilities provider’s stock worth $5,598,000 after buying an additional 365,786 shares during the last quarter. Finally, Covalis Capital LLP bought a new position in shares of Spark Energy in the 2nd quarter worth $812,000. 32.35% of the stock is currently owned by hedge funds and other institutional investors.
Spark Energy Company Profile
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.
Featured Article: Are analyst ratings accurate?
Receive News & Ratings for Spark Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spark Energy and related companies with MarketBeat.com's FREE daily email newsletter.