Spark Energy (NASDAQ:SPKE) Downgraded by BidaskClub to Strong Sell

BidaskClub downgraded shares of Spark Energy (NASDAQ:SPKE) from a sell rating to a strong sell rating in a report issued on Saturday, BidAskClub reports.

A number of other research firms also recently issued reports on SPKE. ValuEngine downgraded shares of Spark Energy from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of Spark Energy from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research report on Tuesday, October 15th.

SPKE stock opened at $10.55 on Friday. The stock’s fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $10.43. The company has a current ratio of 1.96, a quick ratio of 1.93 and a debt-to-equity ratio of 1.53. Spark Energy has a 1-year low of $7.20 and a 1-year high of $11.71. The stock has a market cap of $369.74 million, a P/E ratio of -15.29 and a beta of -0.25.

Spark Energy (NASDAQ:SPKE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.96. The firm had revenue of $207.09 million during the quarter, compared to analyst estimates of $250.70 million. Spark Energy had a return on equity of 23.57% and a net margin of 0.84%. As a group, analysts forecast that Spark Energy will post 0.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.181 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.86%. Spark Energy’s dividend payout ratio (DPR) is presently -105.80%.

Institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in Spark Energy by 4.0% during the third quarter. State Street Corp now owns 219,182 shares of the utilities provider’s stock valued at $2,312,000 after purchasing an additional 8,506 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Spark Energy by 30.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 172,209 shares of the utilities provider’s stock worth $1,817,000 after acquiring an additional 39,721 shares during the period. Mackay Shields LLC grew its stake in shares of Spark Energy by 12.5% during the 3rd quarter. Mackay Shields LLC now owns 301,265 shares of the utilities provider’s stock worth $3,178,000 after acquiring an additional 33,500 shares during the period. Russell Investments Group Ltd. purchased a new stake in Spark Energy in the 3rd quarter worth about $371,000. Finally, Great West Life Assurance Co. Can increased its holdings in Spark Energy by 20.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 389,673 shares of the utilities provider’s stock worth $4,124,000 after acquiring an additional 67,256 shares during the last quarter. Institutional investors and hedge funds own 30.57% 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 engages in the retail distribution of electricity and natural gas to residential and commercial customers.

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