Zacks Investment Research Downgrades Spark Energy (SPKE) to Hold

Zacks Investment Research cut shares of Spark Energy (NASDAQ:SPKE) from a buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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. “

Several other analysts also recently issued reports on SPKE. ValuEngine raised shares of Spark Energy from a strong sell rating to a sell rating in a research note on Monday, April 1st. BidaskClub lowered shares of Spark Energy from a hold rating to a sell rating in a research report on Wednesday, March 20th. Finally, B. Riley assumed coverage on shares of Spark Energy in a research report on Thursday, March 14th. They set a neutral rating and a $10.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $13.00.

Shares of NASDAQ SPKE opened at $9.39 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $328.10 million, a price-to-earnings ratio of -13.61 and a beta of -0.55. Spark Energy has a 1 year low of $7.20 and a 1 year high of $12.70.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.181 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date of this dividend is Thursday, May 30th. Spark Energy’s dividend payout ratio (DPR) is presently -105.80%.

In other news, CEO Nathan Kroeker sold 5,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 95,449 shares of the company’s stock, valued at $944,945.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 67.63% of the company’s stock.

Large investors have recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Spark Energy by 54.4% during the third 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 period. Peregrine Capital Management LLC increased its holdings in Spark Energy by 49.8% during the fourth quarter. Peregrine Capital Management LLC now owns 398,023 shares of the utilities provider’s stock valued at $2,957,000 after buying an additional 132,336 shares during the period. Virtu Financial LLC purchased a new position in Spark Energy during the fourth quarter valued at approximately $84,000. Marshall Wace LLP purchased a new position in Spark Energy during the third quarter valued at approximately $188,000. Finally, Hancock Whitney Corp purchased a new position in Spark Energy during the fourth quarter valued at approximately $153,000. 32.39% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Are sell-side analysts objective?

Get a free copy of the Zacks research report on Spark Energy (SPKE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Spark Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spark Energy and related companies with MarketBeat.com's FREE daily email newsletter.