Spark Energy Inc (SPKE) is Reiterated by Wunderlich to Buy, Raises Price Target to $ 35

Spark Energy Inc (SPKE) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $30 . Wunderlich advised their investors in a research report released on Aug 12, 2016.

On the company’s financial health, Spark Energy Inc reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.48 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.65. The company had revenue of $110.00 million for the quarter, compared to analysts expectations of $110.44 million. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

Spark Energy Inc opened for trading at $24.75 and hit $25.349 on the upside on Monday, eventually ending the session at $25.1, with a gain of 1.41% or 0.35 points. The heightened volatility saw the trading volume jump to 2,29,589 shares. Company has a market cap of $348 M.

Investors should note that on Jul 20, 2016, Spark Energy Inc announced a cash dividend of $0.3625. The company’s management has announced Aug 25, 2016 as the ex-dividend date and fixed the record date on Aug 29, 2016. The payable date has been fixed on Sep 13, 2016.

In a different news, on Dec 28, 2015, Georganne Hodges (Vice President & CFO) sold 1,518 shares at $20.21 per share price. According to the SEC, on Jun 16, 2015, Nathan Kroeker (CEO) purchased 5,000 shares at $14.90 per share price.

Spark Energy Inc. is an independent retail energy services company. The Company provides residential and commercial customers in United States with an alternative choice for their natural gas and electricity. The Company operates in two segments: Retail Natural Gas Segment and Retail Electricity Segment. Retail Natural Gas segment purchases natural gas supply through physical and financial transactions with market counterparts and supply natural gas to residential and commercial consumers. The Retail Electricity segment purchases electricity supply through physical and financial transactions with market counterparts and independent system operators (ISOs) and supply electricity to residential and commercial consumers. As of December 31 2014 it operated in 46 utility service territories across 16 states and had approximately 303000 residential customers and 15000 commercial customers.

Spark Energy Inc

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