Spark Energy (NASDAQ:SPKE) Trading Up 7.6%

Spark Energy Inc (NASDAQ:SPKE)’s share price was up 7.6% on Wednesday . The stock traded as high as $10.04 and last traded at $10.00, approximately 140,996 shares changed hands during mid-day trading. An increase of 23% from the average daily volume of 114,290 shares. The stock had previously closed at $9.29.

Several analysts have weighed in on SPKE shares. ValuEngine lowered Spark Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. BidaskClub downgraded Spark Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday.

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.45 and a quick ratio of 1.44. The company has a 50-day moving average price of $10.32 and a 200-day moving average price of $10.10. The firm has a market capitalization of $350.57 million, a PE ratio of -14.46 and a beta of -0.35.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a $0.181 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 7.25%. Spark Energy’s dividend payout ratio is currently -105.80%.

In related news, Director W Keith Maxwell III acquired 2,850 shares of Spark Energy stock in a transaction dated Wednesday, June 19th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $31,720.50. Following the completion of the transaction, the director now directly owns 2,521,265 shares of the company’s stock, valued at $28,061,679.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought 77,818 shares of company stock worth $810,759 over the last 90 days. Company insiders own 66.98% of the company’s stock.

Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Spark Energy in the second quarter valued at $120,000. Acadian Asset Management LLC purchased a new position in Spark Energy during the second quarter worth about $401,000. JPMorgan Chase & Co. lifted its position in Spark Energy by 7.0% during the first quarter. JPMorgan Chase & Co. now owns 1,266,185 shares of the utilities provider’s stock worth $11,282,000 after buying an additional 82,771 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Spark Energy during the second quarter worth about $124,000. Finally, Ardsley Advisory Partners LP purchased a new position in Spark Energy during the second quarter worth about $392,000. Institutional investors and hedge funds own 29.22% of the company’s stock.

About Spark Energy (NASDAQ:SPKE)

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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