Spark Energy Inc (NASDAQ:SPKE) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,684,883 shares, a growth of 0.3% from the February 28th total of 2,676,240 shares. Based on an average daily volume of 152,689 shares, the short-interest ratio is presently 17.6 days.
Several research analysts recently commented on the stock. FBR & Co set a $33.00 price objective on shares of Spark Energy and gave the stock a “buy” rating in a research note on Saturday, March 4th. Janney Montgomery Scott set a $35.00 price objective on shares of Spark Energy and gave the stock a “buy” rating in a research note on Monday, February 27th. Zacks Investment Research upgraded shares of Spark Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, January 11th. Finally, Guggenheim started coverage on shares of Spark Energy in a research note on Wednesday, February 1st. They set a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.17.
Spark Energy (NASDAQ:SPKE) traded up 0.3203% during mid-day trading on Friday, hitting $35.7642. 44,691 shares of the stock traded hands. The stock has a market cap of $232.32 million, a PE ratio of 16.0522 and a beta of -1.76. Spark Energy has a 12-month low of $22.19 and a 12-month high of $38.70. The company has a 50 day moving average of $30.88 and a 200-day moving average of $28.05.
The firm also recently declared 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 4.07%. The ex-dividend date is Thursday, May 25th.
In other Spark Energy news, Director James G. Jones II purchased 1,000 shares of the stock in a transaction dated Wednesday, March 8th. The stock was purchased at an average price of $26.96 per share, with a total value of $26,960.00. Following the transaction, the director now owns 13,677 shares of the company’s stock, valued at $368,731.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 57.88% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Crow Point Partners LLC acquired a new stake in Spark Energy during the third quarter worth $17,824,000. GSA Capital Partners LLP increased 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 period. Allianz Asset Management AG acquired a new stake in Spark Energy during the fourth quarter worth $228,000. JPMorgan Chase & Co. increased its stake in Spark Energy by 19.4% in the third quarter. JPMorgan Chase & Co. now owns 512,104 shares of the utilities provider’s stock worth $14,917,000 after buying an additional 83,049 shares during the period. Finally, Spark Investment Management LLC increased its stake in Spark Energy by 67.8% in the third quarter. Spark Investment Management LLC now owns 233,700 shares of the utilities provider’s stock worth $6,807,000 after buying an additional 94,400 shares during the period. 38.79% of the stock is currently owned by institutional investors.
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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 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.
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