Spark Energy Inc. (SPKE) Stock Rating Lowered by Zacks Investment Research
Spark Energy Inc. (NASDAQ:SPKE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.
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 have also recently commented on the company. FBR & Co reaffirmed a “buy” rating and set a $33.00 target price (up previously from $32.00) on shares of Spark Energy in a research note on Thursday, August 11th. 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 on the stock. Janney Montgomery Scott upgraded Spark Energy from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Wednesday, July 27th. Finally, Wunderlich increased 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Spark Energy currently has a consensus rating of “Hold” and an average target price of $30.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/spark-energy-inc-spke-stock-rating-lowered-by-zacks-investment-research.html
Spark Energy (NASDAQ:SPKE) opened at 25.28 on Wednesday. The company’s 50 day moving average price is $28.66 and its 200-day moving average price is $27.66. Spark Energy has a 12-month low of $15.91 and a 12-month high of $35.63. The firm has a market capitalization of $164.14 million, a price-to-earnings ratio of 12.94 and a beta of -2.09.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were issued a $0.3625 dividend. The ex-dividend date was Thursday, August 25th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 5.74%.
Several hedge funds and other institutional investors have recently bought and sold shares of SPKE. Omega Advisors Inc. acquired a new stake in shares of Spark Energy during the first quarter worth approximately $900,000. Acadian Asset Management LLC increased its stake in shares of Spark Energy by 46.7% in the second quarter. Acadian Asset Management LLC now owns 26,997 shares of the company’s stock worth $894,000 after buying an additional 8,597 shares during the last quarter. Spark Investment Management LLC increased its stake in shares of Spark Energy by 289.6% in the first quarter. Spark Investment Management LLC now owns 78,700 shares of the company’s stock worth $1,416,000 after buying an additional 58,500 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in shares of Spark Energy during the first quarter worth approximately $801,000. Finally, Geode Capital Management LLC increased its stake in shares of Spark Energy by 139.1% in the first quarter. Geode Capital Management LLC now owns 44,364 shares of the company’s stock worth $798,000 after buying an additional 25,813 shares during the last quarter. Institutional investors own 31.59% of the company’s stock.
About Spark Energy
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spark Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spark Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.