Spark Investment Management LLC held its position in shares of Spark Energy, Inc. (NASDAQ:SPKE) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,800 shares of the utilities provider’s stock at the end of the first quarter. Spark Investment Management LLC owned 4.00% of Spark Energy worth $8,300,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SPKE. Schroder Investment Management Group purchased a new position in shares of Spark Energy during the first quarter worth $443,000. SG Americas Securities LLC raised its position in shares of Spark Energy by 49.4% in the first quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock worth $183,000 after buying an additional 1,898 shares in the last quarter. Hancock Holding Co. purchased a new position in shares of Spark Energy during the first quarter worth $210,000. Trexquant Investment LP purchased a new position in shares of Spark Energy during the first quarter worth $316,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Spark Energy by 1.9% in the first quarter. Parametric Portfolio Associates LLC now owns 50,163 shares of the utilities provider’s stock worth $1,603,000 after buying an additional 934 shares in the last quarter. 39.38% of the stock is currently owned by institutional investors and hedge funds.
Spark Energy, Inc. (SPKE) traded up 5.52% during mid-day trading on Friday, reaching $46.80. The company had a trading volume of 219,304 shares. The firm’s 50 day moving average price is $39.36 and its 200-day moving average price is $31.86. The company has a market capitalization of $304.15 million, a price-to-earnings ratio of 47.18 and a beta of -1.67. Spark Energy, Inc. has a 12 month low of $22.57 and a 12 month high of $47.05. Shares of Spark Energy are set to split before the market opens on Monday, June 19th. The 2-1 split was announced on Tuesday, May 23rd. The newly minted shares will be distributed to shareholders after the closing bell on Friday, June 16th.
Spark Energy (NASDAQ:SPKE) last released its earnings results on Monday, May 8th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.21. Spark Energy had a return on equity of 11.82% and a net margin of 2.10%. The business had revenue of $194.35 million for the quarter, compared to analyst estimates of $140.07 million. Equities research analysts anticipate that Spark Energy, Inc. will post $2.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 30th were given a dividend of $0.1813 per share. This represents a $0.73 annualized dividend and a yield of 1.55%. The ex-dividend date was Thursday, May 25th. Spark Energy’s payout ratio is 88.41%.
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A number of research analysts have recently weighed in on the company. Wunderlich increased their price objective on Spark Energy from $22.00 to $27.50 and gave the company a “buy” rating in a report on Monday. FBR & Co raised their target price on Spark Energy from $18.50 to $23.50 and gave the stock an “outperform” rating in a report on Thursday, June 1st. Zacks Investment Research raised Spark Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 24th. Janney Montgomery Scott set a $22.00 target price on Spark Energy and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Finally, TheStreet raised Spark Energy from a “c” rating to a “b-” rating in a report on Monday, May 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.25.
In other Spark Energy news, CEO Nathan Kroeker sold 21,244 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $43.13, for a total transaction of $916,253.72. Following the transaction, the chief executive officer now owns 28,135 shares in the company, valued at approximately $1,213,462.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Keith Maxwell III bought 2,400 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were acquired at an average price of $43.80 per share, for a total transaction of $105,120.00. Following the transaction, the director now directly owns 347,965 shares in the company, valued at approximately $15,240,867. The disclosure for this purchase can be found here. Insiders have acquired a total of 47,355 shares of company stock worth $1,811,001 in the last quarter. 66.89% of the stock is currently owned by insiders.
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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