Spark Energy (SPKE) Lifted to Buy at Zacks Investment Research

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Spark Energy (NASDAQ:SPKE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $8.75 target price on the utilities provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 7.89% from the stock’s previous close.

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 brokerages have also commented on SPKE. BidaskClub lowered shares of Spark Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. B. Riley set a $11.00 price target on shares of Spark Energy and gave the company a “hold” rating in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $12.58.

Shares of NASDAQ:SPKE traded up $0.31 during trading hours on Tuesday, hitting $8.11. The stock had a trading volume of 15,431 shares, compared to its average volume of 109,076. Spark Energy has a 1-year low of $7.33 and a 1-year high of $13.95. The firm has a market capitalization of $273.79 million, a P/E ratio of -16.90 and a beta of -1.48. The company has a current ratio of 2.20, a quick ratio of 2.18 and a debt-to-equity ratio of 1.01.

Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings results on Friday, November 2nd. The utilities provider reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.31. Spark Energy had a net margin of 1.38% and a return on equity of 11.02%. The company had revenue of $258.48 million for the quarter, compared to analyst estimates of $240.69 million. Analysts predict that Spark Energy will post -0.48 EPS for the current year.

In related news, VP Gil Melman sold 15,862 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $8.75, for a total transaction of $138,792.50. Following the transaction, the vice president now owns 1,100 shares in the company, valued at $9,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Keith Maxwell III acquired 123,904 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were bought at an average price of $8.20 per share, for a total transaction of $1,016,012.80. The disclosure for this purchase can be found here. Insiders have purchased 180,098 shares of company stock worth $1,472,084 in the last quarter. Company insiders own 67.63% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SPKE. Nisa Investment Advisors LLC boosted its holdings in Spark Energy by 2,619.0% during the second quarter. Nisa Investment Advisors LLC now owns 11,420 shares of the utilities provider’s stock worth $111,000 after buying an additional 11,000 shares in the last quarter. Citadel Advisors LLC bought a new stake in Spark Energy during the second quarter worth approximately $118,000. Dynamic Technology Lab Private Ltd bought a new stake in Spark Energy during the first quarter worth approximately $135,000. Baird Financial Group Inc. bought a new stake in Spark Energy during the second quarter worth approximately $138,000. Finally, Mizuho Securities USA LLC bought a new stake in Spark Energy during the second quarter worth approximately $197,000. Institutional investors and hedge funds own 32.35% 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: Intrinsic Value

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