Spark Energy Inc. (SPKE) Trading 3.9% Higher
Spark Energy Inc. (NASDAQ:SPKE)’s share price traded up 3.9% during trading on Wednesday . The company traded as high as $29.43 and last traded at $29.09, with a volume of 204,789 shares. The stock had previously closed at $28.01.
A number of equities analysts have commented on the stock. Ladenburg Thalmann assumed coverage on shares of Spark Energy in a research note on Friday, August 19th. They issued a “neutral” rating and a $27.00 price objective for the company. Zacks Investment Research raised shares of Spark Energy from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Wednesday, August 17th. Wunderlich lifted their price target on shares of Spark Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. FBR & Co reaffirmed a “buy” rating and set a $33.00 price target (up from $32.00) on shares of Spark Energy in a research note on Thursday, August 11th. Finally, Janney Montgomery Scott raised shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.50.
The stock’s 50 day moving average is $26.67 and its 200-day moving average is $26.65. The company has a market capitalization of $186.22 million and a P/E ratio of 14.69.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be given a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Thursday, August 25th.
In other Spark Energy news, Director W Keith Maxwell III sold 111,257 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $30.49, for a total transaction of $3,392,225.93. Following the completion of the transaction, the director now directly owns 92,850 shares in the company, valued at $2,830,996.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Spark Energy stock. Advisors Asset Management Inc. increased its position in Spark Energy Inc. (NASDAQ:SPKE) by 20.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 SEC filing.
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).
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