Spark Energy (SPKE) Receives Hold Rating from B. Riley

B. Riley reaffirmed their hold rating on shares of Spark Energy (NASDAQ:SPKE) in a report released on Wednesday. B. Riley also issued estimates for Spark Energy’s Q4 2018 earnings at $0.17 EPS, Q4 2019 earnings at $0.19 EPS and FY2020 earnings at $0.20 EPS.

SPKE has been the subject of several other reports. BidaskClub lowered Spark Energy from a sell rating to a strong sell rating in a report on Friday, July 20th. Zacks Investment Research raised Spark Energy from a hold rating to a buy rating and set a $8.75 target price for the company in a report on Tuesday. Two 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. The stock presently has a consensus rating of Hold and a consensus price target of $12.58.

SPKE stock traded down $0.30 during midday trading on Wednesday, reaching $9.19. 184,683 shares of the stock were exchanged, compared to its average volume of 181,173. The firm has a market capitalization of $297.16 million, a P/E ratio of -19.10 and a beta of -1.48. Spark Energy has a 52 week low of $7.33 and a 52 week high of $13.95. The company has a quick ratio of 2.18, a current ratio of 2.36 and a debt-to-equity ratio of 1.01.

Spark Energy (NASDAQ:SPKE) last issued its quarterly earnings data on Friday, November 2nd. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.31. The business had revenue of $258.48 million for the quarter, compared to analyst estimates of $240.69 million. Spark Energy had a return on equity of 11.17% and a net margin of 1.38%. As a group, equities research analysts expect that Spark Energy will post -0.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.1813 dividend. This represents a $0.73 annualized dividend and a dividend yield of 7.89%. The ex-dividend date of this dividend is Thursday, November 29th. Spark Energy’s dividend payout ratio is presently -152.08%.

In other news, Director W Keith Maxwell III acquired 5,000 shares of Spark Energy stock in a transaction on Wednesday, September 19th. The stock was acquired at an average cost of $8.25 per share, with a total value of $41,250.00. Following the completion of the acquisition, the director now owns 996,222 shares in the company, valued at $8,218,831.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 directly owns 1,100 shares of the company’s stock, valued at $9,625. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 180,098 shares of company stock valued at $1,472,084. 66.89% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings in Spark Energy by 8.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 392,598 shares of the utilities provider’s stock valued at $3,828,000 after purchasing an additional 30,834 shares during the period. Millennium Management LLC grew its holdings in Spark Energy by 175.5% during the second quarter. Millennium Management LLC now owns 574,173 shares of the utilities provider’s stock valued at $5,598,000 after purchasing an additional 365,786 shares during the period. Spark Investment Management LLC grew its holdings in Spark Energy by 19.4% during the second quarter. Spark Investment Management LLC now owns 372,900 shares of the utilities provider’s stock valued at $3,635,000 after purchasing an additional 60,600 shares during the period. BlackRock Inc. grew its holdings in Spark Energy by 2.9% during the second quarter. BlackRock Inc. now owns 967,722 shares of the utilities provider’s stock valued at $9,435,000 after purchasing an additional 27,423 shares during the period. Finally, Mizuho Securities USA LLC bought a new position in Spark Energy during the second quarter valued at $197,000. 32.35% of the stock is owned by institutional investors and hedge funds.

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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