Spark Energy, Inc. (NASDAQ:SPKE) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday, August 7th.
A number of other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of Spark Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Spark Energy from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, August 2nd. FBR & Co set a $24.00 price objective on shares of Spark Energy and gave the stock a “buy” rating in a research report on Monday, July 10th. Guggenheim upgraded shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Friday, July 7th. Finally, Janney Montgomery Scott cut shares of Spark Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $22.95 to $24.00 in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.08.
Spark Energy (NASDAQ:SPKE) traded down 1.44% during trading on Monday, reaching $17.10. 140,174 shares of the company traded hands. The firm has a 50-day moving average price of $19.41 and a 200-day moving average price of $17.67. The company has a market capitalization of $224.78 million, a P/E ratio of 23.55 and a beta of -1.62. Spark Energy has a 52 week low of $11.52 and a 52 week high of $23.65.
Spark Energy (NASDAQ:SPKE) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.15. The firm had revenue of $151.44 million during the quarter, compared to analyst estimates of $135.72 million. Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. Analysts forecast that Spark Energy will post $0.68 earnings per share for the current fiscal year.
Spark Energy announced that its Board of Directors has approved a share buyback plan on Wednesday, May 24th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the utilities provider to repurchase up to 19.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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In other Spark Energy news, CEO Nathan Kroeker bought 1,775 shares of Spark Energy stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $26.30 per share, for a total transaction of $46,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,000 shares of the company’s stock, valued at $26,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director W Keith Maxwell III bought 4,600 shares of Spark Energy stock in a transaction dated Monday, May 22nd. The stock was acquired at an average price of $39.75 per share, with a total value of $182,850.00. Following the completion of the transaction, the director now directly owns 340,758 shares of the company’s stock, valued at $13,545,130.50. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 15,832 shares of company stock valued at $599,613 and sold 175,586 shares valued at $4,175,616. 66.89% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of Spark Energy by 4.4% in the first quarter. American Century Companies Inc. now owns 510,504 shares of the utilities provider’s stock worth $16,311,000 after buying an additional 21,403 shares in the last quarter. LSV Asset Management raised its stake in shares of Spark Energy by 89.0% in the first quarter. LSV Asset Management now owns 432,346 shares of the utilities provider’s stock worth $13,813,000 after buying an additional 203,605 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Spark Energy during the first quarter worth about $6,390,000. Bowling Portfolio Management LLC raised its stake in shares of Spark Energy by 16.5% in the first quarter. Bowling Portfolio Management LLC now owns 21,791 shares of the utilities provider’s stock worth $696,000 after buying an additional 3,081 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Spark Energy by 5.0% in the first quarter. Wells Fargo & Company MN now owns 192,670 shares of the utilities provider’s stock worth $6,157,000 after buying an additional 9,196 shares in the last quarter. 24.77% 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 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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