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 research firms have also recently issued reports on SPKE. Wunderlich increased their target price on Spark Energy from $30.00 to $35.00 and gave the stock a buy rating in a research note on Friday, August 12th. Ladenburg Thalmann began coverage on Spark Energy in a research note on Friday, August 19th. They set a neutral rating and a $27.00 target price for the company. FBR & Co reissued a buy rating and set a $33.00 target price (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 target price for the company in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three 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 $30.50.
Spark Energy (NASDAQ:SPKE) traded down 0.69% during trading on Wednesday, hitting $25.77. 16,999 shares of the stock were exchanged. The firm’s 50 day moving average price is $28.60 and its 200-day moving average price is $27.64. Spark Energy has a 1-year low of $15.91 and a 1-year high of $35.63. The stock has a market cap of $167.32 million, a price-to-earnings ratio of 13.20 and a beta of -2.09.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were given a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Thursday, August 25th.
Institutional investors have recently added to or reduced their stakes in the company. Highland Capital Management LLC purchased a new position in Spark Energy during the second quarter worth $388,000. James Investment Research Inc. increased its stake in Spark Energy by 23.7% in the second quarter. James Investment Research Inc. now owns 69,067 shares of the company’s stock valued at $2,283,000 after buying an additional 13,250 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in Spark Energy during the second quarter valued at approximately $235,000. Omega Advisors Inc. bought a new stake in Spark Energy during the first quarter valued at approximately $900,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Spark Energy during the first quarter valued at approximately $280,000. 31.59% of the stock is owned by hedge funds and other institutional investors.
Spark Energy Company Profile
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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