Spark Energy (SPKE) Downgraded by BidaskClub

BidaskClub downgraded shares of Spark Energy (NASDAQ:SPKE) from a sell rating to a strong sell rating in a research report released on Saturday morning.

Several other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Spark Energy from a hold rating to a buy rating and set a $8.75 price target for the company in a research note on Wednesday, January 9th. B. Riley restated a hold rating on shares of Spark Energy in a research note on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $12.58.

Shares of NASDAQ SPKE traded down $0.06 during trading on Friday, reaching $8.08. 201,586 shares of the company traded hands, compared to its average volume of 172,696. The firm has a market capitalization of $281.81 million, a P/E ratio of 14.96 and a beta of -0.81. Spark Energy has a 12-month low of $7.20 and a 12-month high of $13.35. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.33 and a current ratio of 2.36.

Spark Energy (NASDAQ:SPKE) last released its quarterly earnings data on Friday, November 2nd. The utilities provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.31. Spark Energy had a return on equity of 11.17% and a net margin of 1.38%. The business had revenue of $258.48 million during the quarter, compared to analyst estimates of $240.69 million. As a group, analysts forecast that Spark Energy will post -0.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.1813 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.73 annualized dividend and a dividend yield of 8.97%. Spark Energy’s dividend payout ratio is presently -152.08%.

In other Spark Energy news, Director W Keith Maxwell III purchased 97,380 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was purchased at an average price of $8.89 per share, for a total transaction of $865,708.20. Following the purchase, the director now directly owns 1,225,831 shares in the company, valued at $10,897,637.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders purchased 174,474 shares of company stock valued at $1,570,377. 67.63% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Spark Energy by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,022,946 shares of the utilities provider’s stock worth $8,440,000 after buying an additional 11,585 shares in the last quarter. BlackRock Inc. increased its stake in Spark Energy by 2.9% during the 2nd quarter. BlackRock Inc. now owns 967,722 shares of the utilities provider’s stock worth $9,435,000 after buying an additional 27,423 shares in the last quarter. Vanguard Group Inc increased its stake in Spark Energy by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 616,598 shares of the utilities provider’s stock worth $5,087,000 after buying an additional 4,886 shares in the last quarter. Millennium Management LLC increased its stake in Spark Energy by 175.5% during the 2nd quarter. Millennium Management LLC now owns 574,173 shares of the utilities provider’s stock worth $5,598,000 after buying an additional 365,786 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Spark Energy by 54.4% during the 3rd quarter. Nordea Investment Management AB now owns 507,331 shares of the utilities provider’s stock worth $4,185,000 after buying an additional 178,854 shares in the last quarter. Institutional investors own 31.64% 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.

See Also: Technical Analysis

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