Spark Energy (SPKE) Posts Earnings Results, Beats Expectations By $0.31 EPS

Spark Energy (NASDAQ:SPKE) posted its earnings results on Friday. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.31, Fidelity Earnings reports. The business had revenue of $258.48 million during the quarter, compared to the consensus estimate of $240.69 million.

NASDAQ:SPKE traded up $0.19 during mid-day trading on Friday, hitting $7.85. 191,077 shares of the stock traded hands, compared to its average volume of 99,083. Spark Energy has a 52 week low of $7.33 and a 52 week high of $15.20.

The company 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 dividend of $0.1813 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.73 annualized dividend and a yield of 9.24%.

Several brokerages recently commented on SPKE. BidaskClub upgraded shares of Spark Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. B. Riley set a $11.00 price target on shares of Spark Energy and gave the company a “hold” rating in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Spark Energy presently has an average rating of “Hold” and a consensus price target of $14.50.

In other 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 shares were bought at an average cost of $8.10 per share, for a total transaction of $81,000.00. Following the acquisition, the director now owns 1,010,240 shares of the company’s stock, valued at approximately $8,182,944. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gil Melman sold 32,361 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $8.78, for a total transaction of $284,129.58. Following the transaction, the vice president now owns 16,962 shares in the company, valued at $148,926.36. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 180,098 shares of company stock worth $1,472,084 and have sold 68,223 shares worth $597,922. Corporate insiders own 66.89% of the company’s stock.

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.

See Also: Hedge Funds – Risk or Reward?

Earnings History for Spark Energy (NASDAQ:SPKE)

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.

Leave a Reply