Spark Energy, Inc. (NASDAQ:SPKE) Lowered to Hold at ValuEngine

Spark Energy, Inc. (NASDAQ:SPKE) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday, August 7th.

A number of other analysts have also issued reports on SPKE. BidaskClub lowered Spark Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Spark Energy from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, August 2nd. Janney Montgomery Scott set a $22.00 target price on Spark Energy and gave the company a “buy” rating in a report on Tuesday, May 23rd. FBR & Co set a $24.00 target price on Spark Energy and gave the company a “buy” rating in a report on Monday, July 10th. Finally, Guggenheim upgraded Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Spark Energy currently has an average rating of “Hold” and an average price target of $23.08.

Shares of Spark Energy (SPKE) traded down 1.70% during midday trading on Monday, hitting $17.35. The stock had a trading volume of 118,620 shares. Spark Energy has a 12-month low of $11.52 and a 12-month high of $23.65. The firm has a market cap of $228.07 million, a price-to-earnings ratio of 23.90 and a beta of -1.62. The company’s 50-day moving average price is $19.48 and its 200-day moving average price is $29.12.

Spark Energy (NASDAQ:SPKE) last released its earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.15. The business had revenue of $151.44 million during the quarter, compared to analysts’ expectations of $135.72 million. Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. Equities research analysts forecast that Spark Energy will post $0.68 EPS for the current year.

Spark Energy announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 24th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the utilities provider to purchase up to 19.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

In other Spark Energy news, VP Gil Melman sold 3,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $17.20, for a total transaction of $51,600.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director W Keith Maxwell III bought 1,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were acquired at an average cost of $43.63 per share, for a total transaction of $43,630.00. Following the completion of the transaction, the director now directly owns 345,565 shares of the company’s stock, valued at $15,077,000.95. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 23,027 shares of company stock valued at $874,462 and have sold 175,586 shares valued at $4,175,616. 66.89% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its position in Spark Energy by 4.4% in the first quarter. American Century Companies Inc. now owns 510,504 shares of the utilities provider’s stock valued at $16,311,000 after buying an additional 21,403 shares during the last quarter. LSV Asset Management increased its position in Spark Energy by 89.0% in the first quarter. LSV Asset Management now owns 432,346 shares of the utilities provider’s stock valued at $13,813,000 after buying an additional 203,605 shares during the last quarter. Heartland Advisors Inc. acquired a new position in Spark Energy during the first quarter valued at approximately $6,390,000. Bowling Portfolio Management LLC increased its position in Spark Energy by 16.5% in the first quarter. Bowling Portfolio Management LLC now owns 21,791 shares of the utilities provider’s stock valued at $696,000 after buying an additional 3,081 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Spark Energy by 5.0% in the first quarter. Wells Fargo & Company MN now owns 192,670 shares of the utilities provider’s stock valued at $6,157,000 after buying an additional 9,196 shares during the last quarter. 24.77% of the stock is currently 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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