$240.69 Million in Sales Expected for Spark Energy Inc (SPKE) This Quarter
Brokerages expect Spark Energy Inc (NASDAQ:SPKE) to announce sales of $240.69 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Spark Energy’s earnings, with the lowest sales estimate coming in at $239.90 million and the highest estimate coming in at $241.48 million. Spark Energy posted sales of $215.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.7%. The company is scheduled to issue its next quarterly earnings results on Friday, September 14th.
According to Zacks, analysts expect that Spark Energy will report full-year sales of $1.00 billion for the current fiscal year. For the next financial year, analysts forecast that the business will report sales of $1.01 billion per share, with estimates ranging from $984.84 million to $1.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow 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 company had revenue of $232.25 million for the quarter, compared to analysts’ expectations of $200.33 million. Spark Energy had a return on equity of 21.26% and a net margin of 1.10%.
Shares of NASDAQ SPKE opened at $8.30 on Tuesday. The stock has a market cap of $289.49 million, a P/E ratio of -17.29 and a beta of -1.95. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.18 and a current ratio of 2.20. Spark Energy has a 1-year low of $7.95 and a 1-year high of $17.10.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 30th were issued a dividend of $0.1813 per share. The ex-dividend date was Wednesday, August 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 8.73%. Spark Energy’s dividend payout ratio is -152.08%.
In other Spark Energy news, VP Jason K. Garrett sold 20,000 shares of Spark Energy stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $8.75, for a total value of $175,000.00. Following the transaction, the vice president now directly owns 26,147 shares of the company’s stock, valued at approximately $228,786.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gil Melman sold 32,361 shares of Spark Energy stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $8.78, for a total value of $284,129.58. Following the completion of the transaction, the vice president now directly owns 16,962 shares in the company, valued at $148,926.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,223 shares of company stock worth $597,922. 66.89% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake 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 purchasing an additional 11,464 shares during the period. Great West Life Assurance Co. Can increased its stake in Spark Energy by 5.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 305,357 shares of the utilities provider’s stock worth $3,614,000 after purchasing an additional 15,317 shares during the period. Spark Investment Management LLC increased its stake in Spark Energy by 19.4% in the 2nd quarter. Spark Investment Management LLC now owns 372,900 shares of the utilities provider’s stock worth $3,635,000 after purchasing an additional 60,600 shares during the period. Mizuho Securities USA LLC purchased a new position in Spark Energy in the 2nd quarter worth approximately $197,000. Finally, Heartland Advisors Inc. increased its stake in Spark Energy by 9.2% in the 1st quarter. Heartland Advisors Inc. now owns 408,972 shares of the utilities provider’s stock worth $4,846,000 after purchasing an additional 34,622 shares during the period. 32.49% of the stock is currently owned by institutional investors and hedge funds.
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.
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