Spark Energy, Inc. (SPKE) Stock Rating Upgraded by ValuEngine
Spark Energy, Inc. (NASDAQ:SPKE) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Spark Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Wunderlich increased their price objective on shares of Spark Energy from $22.00 to $27.50 and gave the stock a “buy” rating in a research note on Monday, June 12th. Guggenheim upgraded shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Friday, July 7th. BidaskClub cut shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Janney Montgomery Scott cut shares of Spark Energy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $22.95 to $24.00 in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.08.
Spark Energy (NASDAQ:SPKE) opened at 14.40 on Thursday. The stock has a 50 day moving average of $16.12 and a 200 day moving average of $18.30. Spark Energy has a 1-year low of $11.52 and a 1-year high of $23.65. The stock has a market cap of $189.29 million, a P/E ratio of 19.83 and a beta of -1.59.
Spark Energy (NASDAQ:SPKE) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.15). Spark Energy had a return on equity of 9.13% and a net margin of 1.68%. The business had revenue of $151.44 million during the quarter, compared to the consensus estimate of $135.72 million. Equities analysts anticipate that Spark Energy will post $0.89 EPS for the current fiscal year.
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In related news, VP Gil Melman sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $15.89, for a total value of $63,560.00. Following the completion of the sale, the vice president now directly owns 33,308 shares of the company’s stock, valued at approximately $529,264.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Keith Maxwell III sold 6,800 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $21.01, for a total transaction of $142,868.00. Following the completion of the sale, the director now directly owns 689,380 shares of the company’s stock, valued at $14,483,873.80. The disclosure for this sale can be found here. Over the last three months, insiders purchased 163,494 shares of company stock valued at $2,638,265 and sold 158,342 shares valued at $3,322,922. Corporate insiders own 66.89% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Spark Energy in the 1st quarter worth approximately $109,000. SG Americas Securities LLC increased its holdings in Spark Energy by 49.4% in the 1st quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock worth $183,000 after acquiring an additional 1,898 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in Spark Energy in the 2nd quarter worth approximately $194,000. Highland Capital Management LLC purchased a new stake in Spark Energy in the 2nd quarter worth approximately $194,000. Finally, Bank of Montreal Can increased its holdings in Spark Energy by 63.0% in the 2nd quarter. Bank of Montreal Can now owns 10,528 shares of the utilities provider’s stock worth $198,000 after acquiring an additional 4,070 shares in the last quarter. 35.98% of the stock is owned by institutional investors.
About Spark Energy
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers across 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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