Massachusetts Financial Services Co. MA increased its stake in shares of Spark Energy, Inc. (NASDAQ:SPKE) by 1.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,239 shares of the utilities provider’s stock after buying an additional 349 shares during the period. Massachusetts Financial Services Co. MA owned about 0.45% of Spark Energy worth $934,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in Spark Energy by 7.5% in the first quarter. PNC Financial Services Group Inc. now owns 12,902 shares of the utilities provider’s stock valued at $413,000 after buying an additional 902 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Spark Energy by 31.3% in the first quarter. TIAA CREF Investment Management LLC now owns 20,969 shares of the utilities provider’s stock valued at $670,000 after buying an additional 5,002 shares during the period. Schroder Investment Management Group bought a new stake in Spark Energy during the first quarter valued at $443,000. SG Americas Securities LLC boosted its stake in Spark Energy by 49.4% in the first quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock valued at $183,000 after buying an additional 1,898 shares during the period. Finally, Hancock Holding Co. bought a new stake in Spark Energy during the first quarter valued at $210,000. Institutional investors and hedge funds own 19.56% of the company’s stock.
Shares of Spark Energy, Inc. (NASDAQ SPKE) opened at 20.15 on Tuesday. The company has a market cap of $261.93 million, a PE ratio of 40.62 and a beta of -1.64. Spark Energy, Inc. has a one year low of $11.28 and a one year high of $23.65. The stock’s 50 day moving average is $36.43 and its 200-day moving average is $31.63.
Spark Energy (NASDAQ:SPKE) last released its quarterly earnings results on Monday, May 8th. The utilities provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.21. Spark Energy had a net margin of 2.10% and a return on equity of 11.82%. The business had revenue of $194.35 million during the quarter, compared to analysts’ expectations of $140.07 million. Equities research analysts expect that Spark Energy, Inc. will post $1.41 earnings per share for the current year.
Spark Energy declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the utilities provider to repurchase up to 19.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Spark Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub cut shares of Spark Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. FBR & Co set a $24.00 target price on shares of Spark Energy and gave the company a “buy” rating in a report on Monday, July 10th. Guggenheim upgraded shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Friday, July 7th. Finally, Janney Montgomery Scott cut shares of Spark Energy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $22.95 to $24.00 in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Spark Energy has a consensus rating of “Hold” and a consensus price target of $22.00.
In other Spark Energy news, CEO Nathan Kroeker sold 21,244 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $43.13, for a total value of $916,253.72. Following the completion of the sale, the chief executive officer now directly owns 28,135 shares in the company, valued at $1,213,462.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director W Keith Maxwell III purchased 12,638 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $36.62 per share, with a total value of $462,803.56. Following the completion of the purchase, the director now owns 323,348 shares of the company’s stock, valued at approximately $11,841,003.76. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 47,605 shares of company stock valued at $1,815,426. 66.89% of the stock is currently owned by company insiders.
About Spark Energy
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers across 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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