Intrinsic value of Spark Energy - SPKE

Previous Close

$8.55

  Intrinsic Value

$7,087

stock screener

  Rating & Target

str. buy

+999%

Previous close

$8.55

 
Intrinsic value

$7,087

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of SPKE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  53.40
  48.56
  44.20
  40.28
  36.76
  33.58
  30.72
  28.15
  25.83
  23.75
  21.88
  20.19
  18.67
  17.30
  16.07
  14.97
  13.97
  13.07
  12.26
  11.54
  10.88
  10.30
  9.77
  9.29
  8.86
  8.47
  8.13
  7.81
  7.53
  7.28
Revenue, $m
  1,224
  1,819
  2,623
  3,679
  5,031
  6,721
  8,786
  11,259
  14,168
  17,532
  21,368
  25,682
  30,476
  35,750
  41,495
  47,705
  54,369
  61,476
  69,016
  76,979
  85,358
  94,146
  103,340
  112,940
  122,948
  133,367
  144,206
  155,475
  167,187
  179,358
Variable operating expenses, $m
  117
  165
  230
  316
  426
  563
  731
  932
  1,168
  1,442
  1,736
  2,086
  2,476
  2,904
  3,371
  3,876
  4,417
  4,994
  5,607
  6,254
  6,935
  7,649
  8,396
  9,175
  9,988
  10,835
  11,715
  12,631
  13,582
  14,571
Fixed operating expenses, $m
  64
  66
  67
  69
  70
  72
  73
  75
  77
  78
  80
  82
  84
  85
  87
  89
  91
  93
  95
  97
  99
  102
  104
  106
  109
  111
  113
  116
  118
  121
Total operating expenses, $m
  181
  231
  297
  385
  496
  635
  804
  1,007
  1,245
  1,520
  1,816
  2,168
  2,560
  2,989
  3,458
  3,965
  4,508
  5,087
  5,702
  6,351
  7,034
  7,751
  8,500
  9,281
  10,097
  10,946
  11,828
  12,747
  13,700
  14,692
Operating income, $m
  1,043
  1,588
  2,325
  3,294
  4,535
  6,086
  7,981
  10,252
  12,923
  16,012
  19,552
  23,514
  27,917
  32,760
  38,037
  43,740
  49,861
  56,388
  63,314
  70,628
  78,323
  86,396
  94,841
  103,659
  112,851
  122,421
  132,377
  142,728
  153,486
  164,665
EBITDA, $m
  1,084
  1,641
  2,394
  3,384
  4,651
  6,235
  8,171
  10,490
  13,218
  16,373
  19,971
  24,017
  28,514
  33,461
  38,850
  44,675
  50,926
  57,593
  64,666
  72,136
  79,996
  88,241
  96,866
  105,872
  115,260
  125,035
  135,204
  145,775
  156,763
  168,181
Interest expense (income), $m
  2
  14
  37
  71
  116
  176
  252
  348
  464
  604
  768
  959
  1,175
  1,419
  1,690
  1,988
  2,312
  2,663
  3,040
  3,441
  3,867
  4,317
  4,791
  5,287
  5,807
  6,349
  6,914
  7,503
  8,116
  8,752
  9,414
Earnings before tax, $m
  1,029
  1,551
  2,254
  3,178
  4,359
  5,834
  7,634
  9,787
  12,318
  15,244
  18,593
  22,338
  26,498
  31,070
  36,049
  41,428
  47,198
  53,349
  59,872
  66,760
  74,006
  81,605
  89,554
  97,852
  106,502
  115,507
  124,874
  134,613
  144,734
  155,251
Tax expense, $m
  278
  419
  609
  858
  1,177
  1,575
  2,061
  2,643
  3,326
  4,116
  5,020
  6,031
  7,154
  8,389
  9,733
  11,186
  12,743
  14,404
  16,166
  18,025
  19,982
  22,033
  24,180
  26,420
  28,755
  31,187
  33,716
  36,345
  39,078
  41,918
Net income, $m
  751
  1,132
  1,646
  2,320
  3,182
  4,258
  5,572
  7,145
  8,992
  11,128
  13,573
  16,307
  19,343
  22,681
  26,316
  30,242
  34,454
  38,945
  43,707
  48,735
  54,025
  59,572
  65,374
  71,432
  77,746
  84,320
  91,158
  98,267
  105,656
  113,333

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  776
  1,153
  1,663
  2,333
  3,190
  4,262
  5,571
  7,139
  8,984
  11,118
  13,550
  16,285
  19,326
  22,669
  26,313
  30,251
  34,476
  38,983
  43,764
  48,814
  54,127
  59,699
  65,530
  71,617
  77,963
  84,570
  91,443
  98,589
  106,016
  113,733
Adjusted assets (=assets-cash), $m
  776
  1,153
  1,663
  2,333
  3,190
  4,262
  5,571
  7,139
  8,984
  11,118
  13,550
  16,285
  19,326
  22,669
  26,313
  30,251
  34,476
  38,983
  43,764
  48,814
  54,127
  59,699
  65,530
  71,617
  77,963
  84,570
  91,443
  98,589
  106,016
  113,733
Revenue / Adjusted assets
  1.577
  1.578
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
  1.577
Average production assets, $m
  120
  178
  257
  361
  493
  659
  861
  1,103
  1,388
  1,718
  2,094
  2,517
  2,987
  3,503
  4,067
  4,675
  5,328
  6,025
  6,764
  7,544
  8,365
  9,226
  10,127
  11,068
  12,049
  13,070
  14,132
  15,237
  16,384
  17,577
Working capital, $m
  198
  295
  425
  596
  815
  1,089
  1,423
  1,824
  2,295
  2,840
  3,462
  4,160
  4,937
  5,791
  6,722
  7,728
  8,808
  9,959
  11,181
  12,471
  13,828
  15,252
  16,741
  18,296
  19,918
  21,605
  23,361
  25,187
  27,084
  29,056
Total debt, $m
  375
  714
  1,173
  1,776
  2,547
  3,512
  4,690
  6,102
  7,762
  9,682
  11,871
  14,333
  17,069
  20,078
  23,358
  26,902
  30,705
  34,761
  39,064
  43,608
  48,390
  53,405
  58,653
  64,132
  69,843
  75,789
  81,975
  88,406
  95,090
  102,036
Total liabilities, $m
  699
  1,038
  1,497
  2,100
  2,871
  3,836
  5,014
  6,425
  8,085
  10,006
  12,195
  14,657
  17,393
  20,402
  23,682
  27,226
  31,029
  35,085
  39,388
  43,932
  48,714
  53,729
  58,977
  64,456
  70,167
  76,113
  82,299
  88,730
  95,414
  102,360
Total equity, $m
  78
  115
  166
  233
  319
  426
  557
  714
  898
  1,112
  1,355
  1,629
  1,933
  2,267
  2,631
  3,025
  3,448
  3,898
  4,376
  4,881
  5,413
  5,970
  6,553
  7,162
  7,796
  8,457
  9,144
  9,859
  10,602
  11,373
Total liabilities and equity, $m
  777
  1,153
  1,663
  2,333
  3,190
  4,262
  5,571
  7,139
  8,983
  11,118
  13,550
  16,286
  19,326
  22,669
  26,313
  30,251
  34,477
  38,983
  43,764
  48,813
  54,127
  59,699
  65,530
  71,618
  77,963
  84,570
  91,443
  98,589
  106,016
  113,733
Debt-to-equity ratio
  4.830
  6.190
  7.050
  7.610
  7.980
  8.240
  8.420
  8.550
  8.640
  8.710
  8.760
  8.800
  8.830
  8.860
  8.880
  8.890
  8.910
  8.920
  8.930
  8.930
  8.940
  8.950
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  751
  1,132
  1,646
  2,320
  3,182
  4,258
  5,572
  7,145
  8,992
  11,128
  13,573
  16,307
  19,343
  22,681
  26,316
  30,242
  34,454
  38,945
  43,707
  48,735
  54,025
  59,572
  65,374
  71,432
  77,746
  84,320
  91,158
  98,267
  105,656
  113,333
Depreciation, amort., depletion, $m
  41
  53
  69
  89
  116
  149
  190
  238
  295
  361
  419
  503
  597
  701
  813
  935
  1,066
  1,205
  1,353
  1,509
  1,673
  1,845
  2,025
  2,214
  2,410
  2,614
  2,826
  3,047
  3,277
  3,515
Funds from operations, $m
  792
  1,185
  1,714
  2,409
  3,298
  4,408
  5,762
  7,383
  9,288
  11,489
  13,992
  16,810
  19,941
  23,382
  27,129
  31,177
  35,520
  40,149
  45,059
  50,244
  55,698
  61,417
  67,400
  73,646
  80,156
  86,934
  93,984
  101,314
  108,932
  116,849
Change in working capital, $m
  69
  96
  130
  171
  219
  274
  334
  401
  471
  545
  621
  699
  777
  854
  931
  1,006
  1,080
  1,151
  1,221
  1,290
  1,357
  1,424
  1,490
  1,555
  1,621
  1,688
  1,756
  1,826
  1,897
  1,972
Cash from operations, $m
  723
  1,089
  1,584
  2,238
  3,079
  4,134
  5,428
  6,982
  8,816
  10,944
  13,371
  16,111
  19,164
  22,528
  26,198
  30,171
  34,440
  38,998
  43,838
  48,954
  54,340
  59,993
  65,910
  72,090
  78,535
  85,246
  92,229
  99,489
  107,035
  114,877
Maintenance CAPEX, $m
  -16
  -24
  -36
  -51
  -72
  -99
  -132
  -172
  -221
  -278
  -344
  -419
  -503
  -597
  -701
  -813
  -935
  -1,066
  -1,205
  -1,353
  -1,509
  -1,673
  -1,845
  -2,025
  -2,214
  -2,410
  -2,614
  -2,826
  -3,047
  -3,277
New CAPEX, $m
  -42
  -58
  -79
  -104
  -133
  -166
  -202
  -242
  -285
  -330
  -376
  -423
  -470
  -517
  -563
  -609
  -653
  -696
  -739
  -780
  -821
  -861
  -901
  -941
  -981
  -1,021
  -1,062
  -1,104
  -1,148
  -1,193
Cash from investing activities, $m
  -58
  -82
  -115
  -155
  -205
  -265
  -334
  -414
  -506
  -608
  -720
  -842
  -973
  -1,114
  -1,264
  -1,422
  -1,588
  -1,762
  -1,944
  -2,133
  -2,330
  -2,534
  -2,746
  -2,966
  -3,195
  -3,431
  -3,676
  -3,930
  -4,195
  -4,470
Free cash flow, $m
  666
  1,006
  1,470
  2,083
  2,875
  3,870
  5,093
  6,568
  8,311
  10,337
  12,651
  15,270
  18,191
  21,413
  24,935
  28,750
  32,852
  37,236
  41,894
  46,821
  52,010
  57,459
  63,164
  69,124
  75,340
  81,815
  88,552
  95,558
  102,840
  110,408
Issuance/(repayment) of debt, $m
  229
  339
  459
  603
  772
  964
  1,178
  1,411
  1,660
  1,920
  2,189
  2,462
  2,736
  3,009
  3,279
  3,544
  3,803
  4,056
  4,303
  4,545
  4,782
  5,016
  5,247
  5,479
  5,711
  5,946
  6,186
  6,431
  6,684
  6,946
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  229
  339
  459
  603
  772
  964
  1,178
  1,411
  1,660
  1,920
  2,189
  2,462
  2,736
  3,009
  3,279
  3,544
  3,803
  4,056
  4,303
  4,545
  4,782
  5,016
  5,247
  5,479
  5,711
  5,946
  6,186
  6,431
  6,684
  6,946
Total cash flow (excl. dividends), $m
  895
  1,346
  1,929
  2,686
  3,646
  4,834
  6,272
  7,979
  9,971
  12,257
  14,840
  17,732
  20,927
  24,423
  28,214
  32,294
  36,655
  41,292
  46,197
  51,365
  56,792
  62,474
  68,411
  74,603
  81,052
  87,761
  94,738
  101,989
  109,524
  117,354
Retained Cash Flow (-), $m
  -41
  -38
  -51
  -67
  -86
  -107
  -131
  -157
  -184
  -213
  -243
  -274
  -304
  -334
  -364
  -394
  -423
  -451
  -478
  -505
  -531
  -557
  -583
  -609
  -635
  -661
  -687
  -715
  -743
  -772
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  853
  1,308
  1,878
  2,619
  3,561
  4,727
  6,141
  7,822
  9,786
  12,044
  14,597
  17,458
  20,623
  24,088
  27,849
  31,900
  36,233
  40,841
  45,719
  50,860
  56,261
  61,917
  67,828
  73,994
  80,417
  87,101
  94,051
  101,275
  108,781
  116,582
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  808
  1,167
  1,569
  2,037
  2,562
  3,124
  3,700
  4,264
  4,785
  5,236
  5,588
  5,825
  5,934
  5,908
  5,752
  5,477
  5,101
  4,646
  4,139
  3,604
  3,067
  2,550
  2,071
  1,640
  1,267
  953
  698
  498
  344
  231
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Spark Energy, Inc. is an independent retail energy services company. The Company provides residential and commercial customers across the United States with an alternative choice for their natural gas and electricity. The Company operates through two segments: Retail Natural Gas Segment and Retail Electricity Segment. The Retail Natural Gas segment consists of natural gas sales to, and natural gas transportation and distribution for, residential and commercial customers. It purchases natural gas supply through physical and financial transactions with market counterparts and supplies natural gas to residential and commercial consumers pursuant to fixed-price and variable-price. The Retail Electricity segment consists of electricity sales and transmission to residential and commercial customers. The Company has approximately 774,000 renewable energy credits (RCEs). As of July 5, 2017, the Company operates in 94 utility service territories across 19 states and the District of Columbia.

FINANCIAL RATIOS  of  Spark Energy (SPKE)

Valuation Ratios
P/E Ratio 14.2
Price to Sales 0.4
Price to Book 6.6
Price to Tangible Book
Price to Cash Flow 2.9
Price to Free Cash Flow 3
Growth Rates
Sales Growth Rate 52.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 14.9%
Financial Strength
Quick Ratio 0
Current Ratio 0.3
LT Debt to Equity 16.7%
Total Debt to Equity 260%
Interest Coverage 39
Management Effectiveness
Return On Assets 5.9%
Ret/ On Assets - 3 Yr. Avg. 3.5%
Return On Total Capital 16.7%
Ret/ On T. Cap. - 3 Yr. Avg. 8.2%
Return On Equity 68.3%
Return On Equity - 3 Yr. Avg. 36.1%
Asset Turnover 2
Profitability Ratios
Gross Margin 36.9%
Gross Margin - 3 Yr. Avg. 29.8%
EBITDA Margin 23.2%
EBITDA Margin - 3 Yr. Avg. 14.7%
Operating Margin 15.4%
Oper. Margin - 3 Yr. Avg. 7.5%
Pre-Tax Margin 13.9%
Pre-Tax Margin - 3 Yr. Avg. 6.7%
Net Profit Margin 2.6%
Net Profit Margin - 3 Yr. Avg. 1.2%
Effective Tax Rate 13.2%
Eff/ Tax Rate - 3 Yr. Avg. 13.4%
Payout Ratio 57.1%

SPKE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SPKE stock intrinsic value calculation we used $798.055 million for the last fiscal year's total revenue generated by Spark Energy. The default revenue input number comes from 0001 income statement of Spark Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SPKE stock valuation model: a) initial revenue growth rate of 53.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for SPKE is calculated based on our internal credit rating of Spark Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Spark Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SPKE stock the variable cost ratio is equal to 10.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $63 million in the base year in the intrinsic value calculation for SPKE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.9% for Spark Energy.

Corporate tax rate of 27% is the nominal tax rate for Spark Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SPKE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SPKE are equal to 9.8%.

Life of production assets of 3.5 years is the average useful life of capital assets used in Spark Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SPKE is equal to 16.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $36.248 million for Spark Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 13.394 million for Spark Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Spark Energy at the current share price and the inputted number of shares is $0.1 billion.

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COMPANY NEWS

▶ Spark Energy, Inc. Announces Management Changes   [Dec-14-18 04:05PM  GlobeNewswire]
▶ Female board directors at Houston's largest public companies increased in 2018   [Dec-11-18 01:05PM  American City Business Journals]
▶ PRESS DIGEST- Financial Times - Nov 28   [Nov-27-18 07:08PM  Reuters]
▶ 5 of the Best Stocks Under $10 for 2019   [Nov-05-18 04:13PM  Zacks]
▶ Spark Energy: 3Q Earnings Snapshot   [Nov-02-18 04:38PM  Associated Press]
▶ 3 High Forward Dividend Utilities   [Oct-01-18 12:05PM  GuruFocus.com]
▶ Q2 Earnings Preview For Spark Energy   [03:11PM  Benzinga]
▶ May Top Utilities Dividend Paying Stocks   [May-10-18 08:02AM  Simply Wall St.]
▶ April Top Cheap Stocks To Buy   [Apr-16-18 10:02AM  Simply Wall St.]
▶ Best-In-Class Mispriced Dividend Stocks On NasdaqGS   [Mar-12-18 04:05PM  Simply Wall St.]
▶ March Undervalued Stocks To Look Out For   [Mar-02-18 09:02AM  Simply Wall St.]
▶ New Strong Sell Stocks for January 2nd   [Jan-02-18 05:52AM  Zacks]
▶ Spark Energy Inc (SPKE)s Earnings Grew 25.8%, Is It Enough?   [Dec-11-17 07:28PM  Simply Wall St.]
▶ December Utilities Dividend Stock Picks   [Dec-09-17 07:02AM  Simply Wall St.]
▶ Spark Energy posts 3Q profit   [Nov-03-17 03:55PM  Associated Press]
▶ Spark Energy, Inc. Provides Hurricane Harvey Update   [Sep-06-17 09:15AM  GlobeNewswire]
▶ Spark Energy posts 2Q profit   [Aug-05-17 01:06AM  Associated Press]
▶ Spark Energy, Inc. Closes on Acquisition of Verde Energy   [Jul-05-17 08:00AM  GlobeNewswire]
▶ ETFs with exposure to Spark Energy, Inc. : June 26, 2017   [Jun-26-17 04:56PM  Capital Cube]
▶ Spark Energy, Inc. Announces Share Buyback Program   [May-24-17 05:34PM  GlobeNewswire]
▶ ETFs with exposure to Spark Energy, Inc. : May 19, 2017   [May-19-17 02:10PM  Capital Cube]
▶ Spark Energy posts 1Q profit   [May-08-17 10:32AM  Associated Press]
▶ ETFs with exposure to Spark Energy, Inc. : March 30, 2017   [Mar-29-17 08:36PM  Capital Cube]

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