Spark Energy (SPKE) Stock Rating Lowered by Zacks Investment Research

Spark Energy (NASDAQ:SPKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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 research analysts have also weighed in on SPKE. Janney Montgomery Scott raised Spark Energy from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 1st. B. Riley downgraded Spark Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.50 to $17.00 in a research note on Tuesday, November 7th. ValuEngine downgraded Spark Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, TheStreet upgraded Spark Energy from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $22.21.

Spark Energy (SPKE) opened at $9.70 on Wednesday. Spark Energy has a 12-month low of $9.20 and a 12-month high of $23.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 1.58. The firm has a market capitalization of $335.91, a PE ratio of 11.98 and a beta of -1.88.

In other Spark Energy news, VP Gil Melman sold 4,000 shares of Spark Energy stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $12.24, for a total transaction of $48,960.00. Following the completion of the transaction, the vice president now owns 29,308 shares in the company, valued at approximately $358,729.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Keith Maxwell III purchased 4,100 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $12.61 per share, with a total value of $51,701.00. Following the purchase, the director now directly owns 864,813 shares in the company, valued at approximately $10,905,291.93. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 101,750 shares of company stock valued at $1,292,716. 66.89% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC acquired a new position in Spark Energy during the 4th quarter valued at about $5,646,000. Macquarie Group Ltd. boosted its stake in Spark Energy by 1,492.0% during the 4th quarter. Macquarie Group Ltd. now owns 33,431 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 31,331 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Spark Energy by 258.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 47,869 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 34,523 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in Spark Energy during the 4th quarter valued at about $243,000. Finally, Alliancebernstein L.P. boosted its stake in Spark Energy by 40.9% during the 4th quarter. Alliancebernstein L.P. now owns 210,770 shares of the utilities provider’s stock valued at $2,614,000 after purchasing an additional 61,160 shares during the last quarter. Institutional investors and hedge funds own 33.63% of the company’s stock.

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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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