Spark Energy Inc. (NASDAQ:SPKE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.
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 equities research analysts also recently weighed in on SPKE. Wunderlich raised their price target on Spark Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Janney Montgomery Scott downgraded 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. Ladenburg Thalmann began coverage on Spark Energy in a report on Friday, August 19th. They issued a “neutral” rating and a $27.00 price target for the company. Finally, FBR & Co reissued 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.50.
Shares of Spark Energy (NASDAQ:SPKE) opened at 26.75 on Thursday. The stock’s 50 day moving average is $28.68 and its 200-day moving average is $27.58. The company has a market cap of $173.69 million, a PE ratio of 13.70 and a beta of -2.09. Spark Energy has a one year low of $15.80 and a one year high of $35.63.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors 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 5.42%. The ex-dividend date of this dividend was Thursday, August 25th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC bought a new position in shares of Spark Energy during the first quarter valued at $146,000. Feltz Wealth PLAN Inc. bought a new position in shares of Spark Energy during the second quarter valued at $171,000. Bank of Montreal Can bought a new position in shares of Spark Energy during the second quarter valued at $175,000. Nuveen Fund Advisors LLC bought a new position in shares of Spark Energy during the second quarter valued at $219,000. Finally, Eagle Global Advisors LLC bought a new position in shares of Spark Energy during the second quarter valued at $230,000. Institutional investors own 31.58% 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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