ValuEngine Upgrades Spark Energy (SPKE) to Sell

ValuEngine upgraded shares of Spark Energy (NASDAQ:SPKE) from a strong sell rating to a sell rating in a research note published on Monday, April 1st, ValuEngine reports.

A number of other research analysts have also recently commented on SPKE. Zacks Investment Research raised Spark Energy from a hold rating to a buy rating and set a $10.00 target price on the stock in a research note on Thursday, March 7th. BidaskClub cut Spark Energy from a hold rating to a sell rating in a research note on Wednesday, March 20th. Finally, B. Riley initiated coverage on Spark Energy in a research note on Thursday, March 14th. They set a neutral rating and a $10.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company has an average rating of Hold and an average price target of $10.50.

SPKE traded up $0.07 during trading on Monday, reaching $9.41. The stock had a trading volume of 63,068 shares, compared to its average volume of 116,523. The stock has a market cap of $331.24 million, a PE ratio of -13.64 and a beta of -0.55. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 1.54. Spark Energy has a one year low of $7.20 and a one year high of $12.70.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.181 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.69%. Spark Energy’s dividend payout ratio is currently -105.80%.

In other news, CEO Nathan Kroeker sold 5,000 shares of the stock in a transaction dated 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 sale, 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 SEC, which is accessible through the SEC website. Corporate insiders own 67.63% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Spark Energy during the fourth quarter worth about $84,000. Trexquant Investment LP purchased a new stake in Spark Energy in the third quarter worth about $110,000. Rhumbline Advisers lifted its holdings in Spark Energy by 44.1% in the fourth quarter. Rhumbline Advisers now owns 15,169 shares of the utilities provider’s stock worth $113,000 after buying an additional 4,640 shares during the period. Bank of America Corp DE lifted its holdings in Spark Energy by 13.5% in the fourth quarter. Bank of America Corp DE now owns 15,446 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,840 shares during the period. Finally, Jefferies Group LLC purchased a new stake in Spark Energy in the third quarter worth about $131,000. Institutional investors own 32.39% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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