Bank of New York Mellon Corp Raises Position in Spark Energy, Inc. (SPKE)

Bank of New York Mellon Corp grew its stake in Spark Energy, Inc. (NASDAQ:SPKE) by 105.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 192,675 shares of the utilities provider’s stock after purchasing an additional 99,119 shares during the quarter. Bank of New York Mellon Corp owned about 1.45% of Spark Energy worth $3,622,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Spark Energy in the 1st quarter valued at $109,000. SG Americas Securities LLC increased its holdings in Spark Energy by 49.4% during the 1st quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock worth $183,000 after purchasing an additional 1,898 shares in the last quarter. Highland Capital Management LLC bought a new position in Spark Energy during the 2nd quarter worth about $194,000. Bank of Montreal Can increased its holdings in Spark Energy by 63.0% during the 2nd quarter. Bank of Montreal Can now owns 10,528 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in Spark Energy during the 2nd quarter worth about $243,000. 35.93% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on SPKE shares. Janney Montgomery Scott downgraded shares of Spark Energy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $22.95 to $24.00 in a research note on Thursday, June 22nd. Guggenheim upgraded shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Friday, July 7th. FBR & Co set a $24.00 target price on shares of Spark Energy and gave the company a “buy” rating in a research note on Monday, July 10th. BidaskClub downgraded shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of Spark Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Spark Energy presently has a consensus rating of “Hold” and a consensus target price of $23.08.

Shares of Spark Energy, Inc. (NASDAQ:SPKE) opened at 14.45 on Tuesday. The company has a market capitalization of $189.95 million, a P/E ratio of 19.90 and a beta of -1.59. The stock’s 50 day moving average is $15.45 and its 200 day moving average is $18.28. Spark Energy, Inc. has a 52-week low of $11.52 and a 52-week high of $23.65.

Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.15). Spark Energy had a return on equity of 9.13% and a net margin of 1.68%. The business had revenue of $151.44 million during the quarter, compared to the consensus estimate of $135.72 million. Equities analysts expect that Spark Energy, Inc. will post $0.89 EPS for the current year.

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In other news, Director W Keith Maxwell III sold 47,300 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $21.25, for a total value of $1,005,125.00. Following the transaction, the director now directly owns 689,380 shares in the company, valued at $14,649,325. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gil Melman sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $17.20, for a total transaction of $51,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 163,494 shares of company stock worth $2,638,265 and have sold 151,542 shares worth $3,180,054. Insiders own 66.89% of the company’s stock.

Spark Energy Company Profile

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.

Institutional Ownership by Quarter for Spark Energy (NASDAQ:SPKE)

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