Spark Energy Inc (SPKE) Expected to Post Quarterly Sales of $240.69 Million

Wall Street analysts forecast that Spark Energy Inc (NASDAQ:SPKE) will post $240.69 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Spark Energy’s earnings, with estimates ranging from $239.90 million to $241.48 million. Spark Energy reported sales of $215.54 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The firm is expected to issue its next earnings report on Friday, November 2nd.

On average, analysts expect that Spark Energy will report full year sales of $1.00 billion for the current year. For the next fiscal year, analysts forecast that the business will report sales of $1.02 billion, with estimates ranging from $998.50 million to $1.04 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Spark Energy.

Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.41 earnings per share for the quarter. The business had revenue of $232.25 million for 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%.



A number of brokerages have recently weighed in on SPKE. BidaskClub raised Spark Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. B. Riley set a $11.00 price objective on Spark Energy and gave the company a “hold” rating in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.50.

Shares of SPKE stock traded down $0.32 during mid-day trading on Monday, reaching $7.75. The stock had a trading volume of 112,387 shares, compared to its average volume of 108,386. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.18 and a current ratio of 2.20. The firm has a market capitalization of $281.46 million, a PE ratio of -16.15 and a beta of -1.94. Spark Energy has a 1-year low of $7.70 and a 1-year high of $15.30.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.1813 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 9.35%. Spark Energy’s payout ratio is -152.08%.

In other news, VP Jason K. Garrett sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $8.75, for a total value of $175,000.00. Following the sale, the vice president now owns 26,147 shares in the company, valued at $228,786.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Keith Maxwell III bought 123,904 shares of the stock in a transaction dated Friday, September 28th. The stock was bought at an average price of $8.20 per share, for a total transaction of $1,016,012.80. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 180,098 shares of company stock worth $1,472,084 and sold 68,223 shares worth $597,922. 66.89% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Spark Energy by 3.4% in the first quarter. Wells Fargo & Company MN now owns 349,162 shares of the utilities provider’s stock worth $4,136,000 after buying an additional 11,464 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Spark Energy by 8.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 392,598 shares of the utilities provider’s stock worth $3,828,000 after buying an additional 30,834 shares during the last quarter. Spark Investment Management LLC boosted its stake in shares of Spark Energy by 19.4% in the second quarter. Spark Investment Management LLC now owns 372,900 shares of the utilities provider’s stock worth $3,635,000 after buying an additional 60,600 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Spark Energy by 175.5% in the second 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, Mizuho Securities USA LLC purchased a new position in Spark Energy during the second quarter worth approximately $197,000. Hedge funds and other institutional investors own 32.47% of the company’s stock.

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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