Spark Energy Inc. (SPKE) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Spark Energy, Inc. is an independent retail energy services company. It provides residential and commercial customers across the United States with an alternative choice for their natural gas and electricity. The company is involved in the retail distribution of natural gas and electricity. It also offers renewable and carbon neutral products. Spark Energy, Inc. is headquartered in Houston, Texas. “
Several other brokerages have also recently commented on SPKE. Janney Montgomery Scott cut Spark Energy from a buy rating to a neutral rating and set a $34.00 target price on the stock. in a report on Friday, June 10th. They noted that the move was a valuation call. Wunderlich upped their price target on Spark Energy from $30.00 to $35.00 and gave the company a buy rating in a report on Friday, August 12th. Ladenburg Thalmann assumed coverage on Spark Energy in a report on Friday, August 19th. They issued a neutral rating and a $27.00 price target on the stock. Finally, FBR & Co reaffirmed a buy rating and issued a $33.00 price target (up previously from $32.00) on shares of Spark Energy in a report on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Spark Energy currently has an average rating of Hold and an average price target of $30.50.
Shares of Spark Energy (NASDAQ:SPKE) opened at 25.28 on Thursday. The firm has a market cap of $164.14 million, a PE ratio of 12.94 and a beta of -2.09. The stock’s 50 day moving average price is $28.66 and its 200 day moving average price is $27.66. Spark Energy has a 12-month low of $15.91 and a 12-month high of $35.63.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were given a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Thursday, August 25th.
Institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in Spark Energy during the first quarter valued at $146,000. Feltz Wealth PLAN Inc. purchased a new position in Spark Energy during the second quarter valued at $171,000. Bank of Montreal Can purchased a new position in Spark Energy during the second quarter valued at $175,000. Nuveen Fund Advisors LLC purchased a new position in Spark Energy during the second quarter valued at $219,000. Finally, Eagle Global Advisors LLC purchased a new position in Spark Energy during the second quarter valued at $230,000. Hedge funds and other institutional investors own 31.59% of the company’s stock.
Spark Energy Company Profile
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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