Spark Energy Inc. (SPKE) Given Consensus Rating of “Hold” by Analysts
Spark Energy Inc. (NASDAQ:SPKE) has been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.25.
Several brokerages recently weighed in on SPKE. TheStreet raised Spark Energy from a “hold” rating to a “buy” rating in a report on Friday, October 28th. Zacks Investment Research downgraded Spark Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 12th. Ladenburg Thalmann initiated coverage on Spark Energy in a report on Friday, August 19th. They set a “neutral” rating and a $27.00 price target for the company. Wunderlich increased their price objective on Spark Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Finally, FBR & Co reiterated a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Spark Energy in a research report on Thursday, August 11th.
Shares of Spark Energy (NASDAQ:SPKE) traded down 0.37% during midday trading on Friday, reaching $26.60. 32,847 shares of the company’s stock traded hands. The company’s market capitalization is $172.79 million. The stock’s 50 day moving average is $25.98 and its 200-day moving average is $28.42. Spark Energy has a 52 week low of $17.05 and a 52 week high of $35.63.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Thursday, December 1st will be given a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Tuesday, November 29th.
In other news, Director W Keith Maxwell III purchased 42,185 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was acquired at an average price of $25.82 per share, for a total transaction of $1,089,216.70. Following the completion of the transaction, the director now directly owns 135,035 shares in the company, valued at approximately $3,486,603.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 57.88% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Spark Energy by 144.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,767 shares of the company’s stock worth $663,000 after buying an additional 13,467 shares in the last quarter. Crow Point Partners LLC bought a new stake in Spark Energy during the third quarter worth approximately $17,824,000. Cornerstone Capital Management Holdings LLC. boosted its stake in Spark Energy by 104.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 144,257 shares of the company’s stock worth $4,201,000 after buying an additional 73,800 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Spark Energy during the third quarter worth approximately $377,000. Finally, Nuveen Fund Advisors LLC boosted its stake in Spark Energy by 49.7% in the third quarter. Nuveen Fund Advisors LLC now owns 9,917 shares of the company’s stock worth $289,000 after buying an additional 3,292 shares in the last quarter. Hedge funds and other institutional investors own 32.84% 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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