Spark Energy Inc (NASDAQ:SPKE)‘s stock had its “outperform” rating reiterated by FBR & Co in a report issued on Thursday. They currently have a $33.00 price target on the stock. FBR & Co’s price target points to a potential upside of 13.60% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Janney Montgomery Scott set a $35.00 price objective on Spark Energy and gave the company a “buy” rating in a research note on Monday, February 27th. Guggenheim initiated coverage on shares of Spark Energy in a research report on Wednesday, February 1st. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research cut Spark Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 9th. Finally, TheStreet cut Spark Energy from a “buy” rating to a “hold” rating in a report on Monday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.17.
Spark Energy (NASDAQ:SPKE) opened at 29.05 on Thursday. Spark Energy has a 52 week low of $17.70 and a 52 week high of $35.63. The firm has a 50-day moving average of $26.78 and a 200-day moving average of $27.52. The company has a market cap of $188.71 million, a price-to-earnings ratio of 13.04 and a beta of -1.76.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Wednesday, March 1st were issued a $0.3625 dividend. This represents a $1.45 annualized dividend and a yield of 4.99%. The ex-dividend date was Monday, February 27th.
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In other news, Director W Keith Maxwell III acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The stock was bought at an average price of $30.50 per share, with a total value of $30,500.00. Following the acquisition, the director now owns 265,968 shares in the company, valued at approximately $8,112,024. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders purchased 42,244 shares of company stock valued at $1,271,920. 57.88% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Crow Point Partners LLC purchased a new stake in shares of Spark Energy during the third quarter valued at $17,824,000. Spark Investment Management LLC raised its stake in shares of Spark Energy by 67.8% in the third quarter. Spark Investment Management LLC now owns 233,700 shares of the company’s stock valued at $6,807,000 after buying an additional 94,400 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Spark Energy by 19.4% in the third quarter. JPMorgan Chase & Co. now owns 512,104 shares of the company’s stock valued at $14,917,000 after buying an additional 83,049 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Spark Energy by 74.2% in the third quarter. Great West Life Assurance Co. Can now owns 194,321 shares of the company’s stock valued at $5,671,000 after buying an additional 82,755 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Spark Energy during the fourth quarter valued at $1,309,000. 38.79% of the stock is owned by institutional investors.
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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