Spark Energy (SPKE) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Spark Energy (NASDAQ:SPKE) from a buy rating to a hold rating in a research note published on Thursday, November 9th.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Spark Energy from a hold rating to a sell rating in a research report on Wednesday, July 12th. Janney Montgomery Scott upgraded Spark Energy from a neutral rating to a buy rating in a research report on Wednesday, November 1st. TheStreet cut Spark Energy from a b rating to a c+ rating in a research report on Monday, October 23rd. BidaskClub cut Spark Energy from a buy rating to a hold rating in a research report on Wednesday, July 12th. Finally, B. Riley lowered shares of Spark Energy from a buy rating to a neutral rating and decreased their price target for the company from $23.50 to $17.00 in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $22.21.

Spark Energy (NASDAQ SPKE) traded up $0.05 during midday trading on Thursday, hitting $12.50. The company had a trading volume of 228,736 shares, compared to its average volume of 224,213. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.63. Spark Energy has a 52-week low of $11.30 and a 52-week high of $23.65. The firm has a market cap of $432.88, a P/E ratio of 15.06 and a beta of -1.61.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.1813 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.80%. Spark Energy’s dividend payout ratio is currently 90.12%.

In related news, VP Gil Melman sold 4,000 shares of Spark Energy 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 owns 33,308 shares in the company, valued at approximately $529,264.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Keith Maxwell III bought 30,440 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average price of $15.52 per share, with a total value of $472,428.80. Following the acquisition, the director now directly owns 774,399 shares in the company, valued at approximately $12,018,672.48. The disclosure for this purchase can be found here. Insiders have bought a total of 159,719 shares of company stock valued at $2,534,282 in the last 90 days. Insiders own 66.89% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Spark Energy by 7.0% in the third quarter. JPMorgan Chase & Co. now owns 1,312,194 shares of the utilities provider’s stock valued at $19,813,000 after acquiring an additional 85,764 shares during the last quarter. Vanguard Group Inc. lifted its position in Spark Energy by 118.4% in the second quarter. Vanguard Group Inc. now owns 1,220,209 shares of the utilities provider’s stock valued at $22,941,000 after acquiring an additional 661,547 shares during the last quarter. American Century Companies Inc. lifted its position in Spark Energy by 108.7% in the second quarter. American Century Companies Inc. now owns 1,065,211 shares of the utilities provider’s stock valued at $20,026,000 after acquiring an additional 554,707 shares during the last quarter. Crow Point Partners LLC raised its holdings in shares of Spark Energy by 68.1% in the second quarter. Crow Point Partners LLC now owns 1,022,954 shares of the utilities provider’s stock valued at $20,203,000 after buying an additional 414,395 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of Spark Energy by 90.6% in the second quarter. LSV Asset Management now owns 823,992 shares of the utilities provider’s stock valued at $15,491,000 after buying an additional 391,646 shares during the last quarter. 35.15% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Spark Energy (NASDAQ:SPKE)

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