B. Riley Lowers Spark Energy, Inc. (SPKE) to Neutral
B. Riley lowered shares of Spark Energy, Inc. (NASDAQ:SPKE) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. They currently have $17.00 price target on the utilities provider’s stock, down from their previous price target of $23.50. B. Riley also issued estimates for Spark Energy’s Q4 2017 earnings at $0.31 EPS, FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $0.94 EPS.
A number of other research firms also recently issued reports on SPKE. BidaskClub downgraded shares of Spark Energy from a hold rating to a sell rating in a research report on Thursday, August 3rd. ValuEngine downgraded shares of Spark Energy from a buy rating to a hold rating in a research report on Monday, August 7th. Zacks Investment Research upgraded shares of Spark Energy from a hold rating to a buy rating and set a $23.00 price target for the company in a research report on Wednesday, August 2nd. FBR & Co set a $24.00 price target on shares of Spark Energy and gave the company a buy rating in a research report on Monday, July 10th. Finally, Janney Montgomery Scott upgraded shares of Spark Energy from a neutral rating to a buy rating in a research report on Wednesday, November 1st. One 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. Spark Energy presently has a consensus rating of Hold and an average price target of $22.21.
Shares of Spark Energy (SPKE) traded down $0.40 on Tuesday, reaching $12.05. The company’s stock had a trading volume of 107,900 shares, compared to its average volume of 228,547. Spark Energy has a 12 month low of $11.54 and a 12 month high of $23.65. The stock has a market cap of $431.14, a price-to-earnings ratio of 15.37 and a beta of -1.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 2.34.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.1813 per share. The ex-dividend date is Tuesday, November 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.02%. Spark Energy’s payout ratio is 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 stock was sold at an average price of $15.89, for a total transaction of $63,560.00. Following the completion of the transaction, the vice president now directly owns 33,308 shares in the company, valued at approximately $529,264.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Keith Maxwell III acquired 30,440 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of $15.52 per share, with a total value of $472,428.80. Following the completion of the transaction, the director now directly owns 774,399 shares in the company, valued at $12,018,672.48. The disclosure for this purchase can be found here. Insiders have purchased a total of 160,719 shares of company stock valued at $2,550,672 over the last 90 days. Insiders own 66.89% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Spark Energy by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,312,194 shares of the utilities provider’s stock worth $19,813,000 after purchasing an additional 85,764 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Spark Energy by 118.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,220,209 shares of the utilities provider’s stock worth $22,941,000 after purchasing an additional 661,547 shares during the last quarter. American Century Companies Inc. raised its position in shares of Spark Energy by 108.7% during the 2nd quarter. American Century Companies Inc. now owns 1,065,211 shares of the utilities provider’s stock worth $20,026,000 after purchasing an additional 554,707 shares during the last quarter. Crow Point Partners LLC raised its holdings in Spark Energy by 68.1% in the 2nd quarter. Crow Point Partners LLC now owns 1,022,954 shares of the utilities provider’s stock valued at $20,203,000 after acquiring an additional 414,395 shares during the last quarter. Finally, LSV Asset Management raised its holdings in Spark Energy by 90.6% in the 2nd quarter. LSV Asset Management now owns 823,992 shares of the utilities provider’s stock valued at $15,491,000 after acquiring an additional 391,646 shares during the last quarter. Hedge funds and other institutional investors own 36.71% 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 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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