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. “
A number of other equities analysts have also issued reports on the company. Ladenburg Thalmann assumed coverage on Spark Energy in a research note on Friday, August 19th. They set a neutral rating and a $27.00 price target for the company. Wunderlich increased their price target on Spark Energy from $30.00 to $35.00 and gave the company a buy rating in a research note on Friday, August 12th. FBR & Co reaffirmed a buy rating and set a $33.00 price target (up from $32.00) on shares of Spark Energy in a research note on Thursday, August 11th. Finally, Janney Montgomery Scott raised Spark Energy from a neutral rating to a buy rating and set a $34.00 price target for the company in a research note on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Spark Energy has a consensus rating of Hold and an average target price of $30.50.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were paid a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Thursday, August 25th.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its stake in Spark Energy by 156.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 76,993 shares of the company’s stock valued at $1,386,000 after buying an additional 46,937 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Spark Energy by 24.0% in the first quarter. JPMorgan Chase & Co. now owns 431,655 shares of the company’s stock valued at $7,769,000 after buying an additional 83,598 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Spark Energy during the first quarter valued at $146,000. Royce & Associates LP bought a new stake in Spark Energy during the first quarter valued at $1,800,000. Finally, Spark Investment Management LLC raised its stake in Spark Energy by 289.6% in the first quarter. Spark Investment Management LLC now owns 78,700 shares of the company’s stock valued at $1,416,000 after buying an additional 58,500 shares in the last quarter. 31.59% of the stock is owned by institutional investors and hedge funds.
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).
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