Spark Energy (SPKE) Hits New 1-Year Low at $7.70

Spark Energy Inc (NASDAQ:SPKE)’s share price reached a new 52-week low on Friday . The stock traded as low as $7.70 and last traded at $7.75, with a volume of 111924 shares trading hands. The stock had previously closed at $8.07.

SPKE has been the subject of several recent research reports. B. Riley set a $11.00 target price on shares of Spark Energy and gave the company a “hold” rating in a report on Monday, August 6th. BidaskClub raised shares of Spark Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.50.

The company has a current ratio of 2.20, a quick ratio of 2.18 and a debt-to-equity ratio of 1.01. The firm has a market cap of $270.30 million, a price-to-earnings ratio of -16.15 and a beta of -1.94.

Spark Energy (NASDAQ:SPKE) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.41 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 net margin of 1.10% and a return on equity of 21.26%. As a group, analysts predict that Spark Energy Inc will post -0.48 EPS for the current year.

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

In related news, Director W Keith Maxwell III purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was bought at an average price of $8.10 per share, with a total value of $81,000.00. Following the acquisition, the director now owns 1,010,240 shares in the company, valued at $8,182,944. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gil Melman sold 32,361 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $8.78, for a total transaction of $284,129.58. Following the completion of the sale, the vice president now directly owns 16,962 shares of the company’s stock, valued at approximately $148,926.36. The disclosure for this sale can be found here. In the last three months, insiders purchased 180,098 shares of company stock valued at $1,472,084 and sold 68,223 shares valued at $597,922. 66.89% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SPKE. Wells Fargo & Company MN increased its holdings in Spark Energy by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 349,162 shares of the utilities provider’s stock worth $4,136,000 after acquiring an additional 11,464 shares in the last quarter. Millennium Management LLC purchased a new stake in Spark Energy in the 1st quarter worth $2,469,000. Dynamic Technology Lab Private Ltd purchased a new stake in Spark Energy in the 1st quarter worth $135,000. Nisa Investment Advisors LLC boosted its stake in 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 worth $111,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Mizuho Securities USA LLC acquired a new stake in Spark Energy during the 2nd quarter worth $197,000. 32.47% of the stock is owned by institutional investors.

Spark Energy Company Profile (NASDAQ:SPKE)

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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