B. Riley Lowers Spark Energy (SPKE) Price Target to $10.00

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Spark Energy (NASDAQ:SPKE) had its price target cut by equities research analysts at B. Riley from $11.00 to $10.00 in a research note issued to investors on Tuesday. The firm currently has a “neutral” rating on the utilities provider’s stock. B. Riley’s price target indicates a potential upside of 9.17% from the stock’s previous close. B. Riley also issued estimates for Spark Energy’s Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.07 EPS and FY2020 earnings at $0.17 EPS.

Several other research firms have also recently weighed in on SPKE. BidaskClub raised Spark Energy from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. ValuEngine upgraded shares of Spark Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 19th. Finally, Zacks Investment Research lowered shares of Spark Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.25.

Spark Energy stock opened at $9.16 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt-to-equity ratio of 1.01. The company has a market cap of $324.04 million, a price-to-earnings ratio of -19.08 and a beta of -0.62. Spark Energy has a fifty-two week low of $7.20 and a fifty-two week high of $13.35.

In other news, CEO Nathan Kroeker sold 5,000 shares of Spark Energy stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $9.90, for a total transaction of $49,500.00. Following the completion of the transaction, the chief executive officer now directly owns 95,449 shares in the company, valued at $944,945.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 67.63% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Spark Energy by 54.4% in the 3rd quarter. Nordea Investment Management AB now owns 507,331 shares of the utilities provider’s stock worth $4,185,000 after acquiring an additional 178,854 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in Spark Energy by 49.8% in the 4th quarter. Peregrine Capital Management LLC now owns 398,023 shares of the utilities provider’s stock worth $2,957,000 after acquiring an additional 132,336 shares during the last quarter. Virtu Financial LLC purchased a new position in Spark Energy in the 4th quarter worth approximately $84,000. Marshall Wace LLP purchased a new position in Spark Energy in the 3rd quarter worth approximately $188,000. Finally, Vanguard Group Inc raised its holdings in Spark Energy by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 616,598 shares of the utilities provider’s stock worth $5,087,000 after acquiring an additional 4,886 shares during the last quarter. Hedge funds and other institutional investors own 31.85% of the company’s stock.

Spark Energy Company Profile

Spark Energy, Inc, through its subsidiaries, operates as an independent retail energy services company in the United States. It operates through two segments, Retail Electricity and Retail Natural Gas. The company is involved in the retail distribution of electricity and natural gas to residential, commercial, and industrial customers.

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