Spark Energy Inc (SPKE) Price Target Raised to $47.00 at FBR & Co

Spark Energy Inc (SPKE) Price Target Raised to $47.00 at FBR & Co

Other equities research analysts have also issued research reports about the stock. Ladenburg Thalmann Financial Services boosted their price target on shares of Spark Energy from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, May 9th. TheStreet raised shares of Spark Energy from a “c” rating to a “b-” rating in a report on Monday, May 8th. Zacks Investment Research raised shares of Spark Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 24th. Janney Montgomery Scott set a $44.00 target price on shares of Spark Energy and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Finally, Guggenheim lowered shares of Spark Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, March 29th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $37.17.

Spark Energy Inc (NASDAQ:SPKE) had its target price raised by equities research analysts at FBR & Co from $37.00 to $47.00 in a research note issued to investors on Thursday, StockTargetPrices.com reports. The firm currently has an “outperform” rating on the utilities provider’s stock. FBR & Co’s price objective suggests a potential upside of 7.18% from the stock’s current price.

Spark Energy (NASDAQ:SPKE) opened at 43.85 on Thursday. The firm has a 50 day moving average of $36.78 and a 200-day moving average of $30.39. The stock has a market cap of $284.98 million, a PE ratio of 44.20 and a beta of -1.76. Spark Energy has a 52-week low of $22.57 and a 52-week high of $45.60. Spark Energy shares are going to split on Monday, June 19th. The 2-1 split was announced on Tuesday, May 23rd. The newly issued shares will be payable to shareholders after the closing bell on Friday, June 16th.

Spark Energy (NASDAQ:SPKE) last issued its quarterly earnings results on Monday, May 8th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.77 by $0.43. The company had revenue of $194.35 million during the quarter, compared to analysts’ expectations of $140.07 million. Spark Energy had a return on equity of 16.38% and a net margin of 1.52%. Equities analysts anticipate that Spark Energy will post $2.80 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be issued a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, May 25th.

In other news, CEO Nathan Kroeker sold 21,244 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $43.13, for a total transaction of $916,253.72. Following the completion of the sale, the chief executive officer now owns 28,135 shares of the company’s stock, valued at $1,213,462.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Keith Maxwell III bought 1,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $43.63 per share, with a total value of $43,630.00. Following the acquisition, 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. Insiders have bought 46,449 shares of company stock valued at $1,745,655 in the last ninety days. Insiders own 57.88% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Bowling Portfolio Management LLC raised its stake in Spark Energy by 6.7% in the fourth quarter. Bowling Portfolio Management LLC now owns 18,710 shares of the utilities provider’s stock worth $567,000 after buying an additional 1,170 shares during the last quarter. Summit Global Investments acquired a new stake in Spark Energy during the fourth quarter worth about $424,000. Tudor Investment Corp Et Al acquired a new stake in Spark Energy during the fourth quarter worth about $409,000. GSA Capital Partners LLP raised its stake in Spark Energy by 72.9% in the fourth quarter. GSA Capital Partners LLP now owns 77,072 shares of the utilities provider’s stock worth $2,335,000 after buying an additional 32,500 shares during the last quarter. Finally, Allianz Asset Management AG acquired a new stake in Spark Energy during the fourth quarter worth about $228,000. 38.79% of the stock is owned by institutional investors and hedge funds.

Spark Energy Company Profile

Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SPKE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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