Spark Energy (SPKE) Raised to “Hold” at Zacks Investment Research

Spark Energy (NASDAQ:SPKE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

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 analysts have also recently issued reports on the stock. Janney Montgomery Scott raised shares of Spark Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 1st. TheStreet raised shares of Spark Energy from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. ValuEngine cut shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, B. Riley cut shares of Spark Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.50 to $17.00 in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Spark Energy presently has an average rating of “Hold” and an average price target of $22.21.

Shares of Spark Energy (SPKE) traded down $0.03 on Friday, reaching $9.57. 144,294 shares of the company’s stock traded hands, compared to its average volume of 214,901. The company has a quick ratio of 1.58, a current ratio of 1.63 and a debt-to-equity ratio of 0.69. The firm has a market cap of $332.46, a PE ratio of 11.85 and a beta of -1.88. Spark Energy has a 12 month low of $9.20 and a 12 month high of $23.65.

In other news, VP Gil Melman sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $12.24, for a total transaction of $48,960.00. Following the completion of the transaction, the vice president now owns 29,308 shares of the company’s stock, valued at approximately $358,729.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director W Keith Maxwell III acquired 2,300 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $13.55 per share, with a total value of $31,165.00. Following the purchase, the director now owns 907,872 shares in the company, valued at $12,301,665.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 101,750 shares of company stock worth $1,292,716. 66.89% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SPKE. Cornerstone Capital Management Holdings LLC. increased its position in Spark Energy by 47.8% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 73,522 shares of the utilities provider’s stock worth $1,382,000 after purchasing an additional 23,761 shares in the last quarter. Swiss National Bank acquired a new stake in Spark Energy in the second quarter valued at approximately $365,000. Goldman Sachs Group Inc. grew its position in Spark Energy by 129.6% in the second quarter. Goldman Sachs Group Inc. now owns 30,891 shares of the utilities provider’s stock valued at $581,000 after acquiring an additional 17,435 shares in the last quarter. Crow Point Partners LLC grew its position in Spark Energy by 5.7% in the fourth quarter. Crow Point Partners LLC now owns 1,073,144 shares of the utilities provider’s stock valued at $13,253,000 after acquiring an additional 57,426 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Spark Energy by 107.1% in the second quarter. California State Teachers Retirement System now owns 20,404 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 10,552 shares in the last quarter. 34.96% of the stock is owned by institutional investors.

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Spark Energy Company Profile

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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