Spark Energy (NASDAQ:SPKE) has announced 4th quarter earnings tonight and the results can only be described as stellar as net income of $47 million was a 97% increase from a year ago.
The companies retail customer count grew 35% year over year to end the year at 1.04 million.
Maybe the biggest part of the announcement was the engagement of Morgan Stanley to explore strategic moves as the company is not happy with a common share price of $8.60 which is off a 52 week high of $23. Typically this means that the company might explore sale of the company.
Our recent purchase of a full position of the companies 8.75% preferred shares (NASDAQ:SPKEP) has dealt us fits as it has fallen from our purchase price of $24.50 to the mid $23’s. We are hopeful this announcement will give investors reason to have more confidence in the companies future prospects.