Spark Energy Inc. (SPKE) Trading 10.1% Higher
Spark Energy Inc. (NASDAQ:SPKE) traded up 10.1% during trading on Thursday . The company traded as high as $28.16 and last traded at $27.93, with a volume of 258,148 shares. The stock had previously closed at $25.37.
A number of equities research analysts have recently commented on the stock. Janney Montgomery Scott downgraded shares of Spark Energy from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Friday, June 10th. They noted that the move was a valuation call. FBR & Co reissued a “buy” rating on shares of Spark Energy in a research report on Monday, June 6th. Wunderlich raised their target price on shares of Spark Energy from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. Finally, Zacks Investment Research cut shares of Spark Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $29.20.
The firm’s 50-day moving average price is $28.05 and its 200 day moving average price is $26.57. The firm has a market cap of $164.19 million and a PE ratio of 16.24.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be issued a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Thursday, August 25th.
In other Spark Energy news, Director W Keith Maxwell III sold 31,147 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $30.28, for a total value of $943,131.16. Following the completion of the sale, the director now directly owns 92,850 shares of the company’s stock, valued at approximately $2,811,498. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
An institutional investor recently raised its position in Spark Energy stock. Advisors Asset Management Inc. raised its position in shares of Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,693 shares of the company’s stock after buying an additional 10,600 shares during the period. Advisors Asset Management Inc. owned approximately 2.06% of Spark Energy worth $1,320,000 as of its most recent filing with the SEC.
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in United States with an alternative for their natural gas and electricity. The Company operates in two segments: Retail Natural Gas Segment and Retail Electricity Segment. It operates in approximately 50 utility service territories across over 20 states and has approximately 328,000 residential customers and over 19,000 commercial customers, which translates to approximately 415,000 renewable energy credits (RCEs).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.