Spark Energy Inc (SPKE) Stock Rating Reaffirmed by FBR & Co
Spark Energy Inc (NASDAQ:SPKE)‘s stock had its “outperform” rating reaffirmed by investment analysts at FBR & Co in a report issued on Tuesday, May 9th. They currently have a $37.00 target price on the utilities provider’s stock, up from their previous target price of $33.00. FBR & Co’s target price suggests a potential downside of 2.76% from the stock’s current price.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Spark Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a research report on Wednesday, January 11th. Guggenheim lowered shares of Spark Energy from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 29th. Finally, Janney Montgomery Scott set a $35.00 target price on shares of Spark Energy and gave the company a “buy” rating in a research report on Monday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Spark Energy has an average rating of “Hold” and an average target price of $34.00.
Spark Energy (NASDAQ:SPKE) opened at 38.20 on Tuesday. The firm’s 50-day moving average price is $34.37 and its 200 day moving average price is $29.35. The firm has a market cap of $248.26 million, a P/E ratio of 38.51 and a beta of -1.76. Spark Energy has a 12-month low of $22.57 and a 12-month high of $38.70.
Spark Energy (NASDAQ:SPKE) last issued its earnings results on Monday, May 8th. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by $0.43. Spark Energy had a net margin of 1.52% and a return on equity of 16.38%. The company had revenue of $194.35 million during the quarter, compared to analyst estimates of $140.07 million. Analysts forecast that Spark Energy will post $2.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be issued a dividend of $0.3625 per share. The ex-dividend date is Thursday, May 25th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.81%.
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In other Spark Energy news, Director W Keith Maxwell III purchased 12,638 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $36.62 per share, for a total transaction of $462,803.56. Following the completion of the acquisition, the director now owns 323,348 shares in the company, valued at $11,841,003.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James G. Jones II purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were acquired at an average price of $26.96 per share, for a total transaction of $26,960.00. Following the acquisition, the director now owns 13,677 shares of the company’s stock, valued at approximately $368,731.92. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 24,232 shares of company stock worth $868,501. 57.88% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al purchased a new position in Spark Energy during the fourth quarter valued at about $409,000. GSA Capital Partners LLP raised its position in Spark Energy by 72.9% in the fourth quarter. GSA Capital Partners LLP now owns 77,072 shares of the utilities provider’s stock valued at $2,335,000 after buying an additional 32,500 shares during the last quarter. Allianz Asset Management AG purchased a new position in Spark Energy during the fourth quarter valued at about $228,000. Dimensional Fund Advisors LP raised its position in Spark Energy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 109,975 shares of the utilities provider’s stock valued at $3,332,000 after buying an additional 500 shares during the last quarter. Finally, State Street Corp raised its position in Spark Energy by 6.2% in the fourth quarter. State Street Corp now owns 105,493 shares of the utilities provider’s stock valued at $3,194,000 after buying an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 38.79% 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 the United States with an alternative choice for their natural gas and electricity. The Company operates through two segments: Retail Natural Gas Segment and Retail Electricity Segment.
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