Bank of Montreal Can boosted its position in Spark Energy, Inc. (NASDAQ:SPKE) by 63.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,528 shares of the utilities provider’s stock after acquiring an additional 4,070 shares during the period. Bank of Montreal Can owned 0.08% of Spark Energy worth $198,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Spark Energy during the first quarter worth about $109,000. SG Americas Securities LLC raised its position in shares of Spark Energy by 49.4% during the first 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 during the period. Hancock Holding Co. acquired a new stake in shares of Spark Energy during the first quarter worth about $210,000. Nisa Investment Advisors LLC raised its position in shares of Spark Energy by 1,652.5% during the first quarter. Nisa Investment Advisors LLC now owns 7,010 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 6,610 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Spark Energy by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 8,900 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 35.98% of the company’s stock.
SPKE has been the topic of a number of recent research reports. Zacks Investment Research raised Spark Energy from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, August 2nd. Wunderlich raised their price target on Spark Energy from $22.00 to $27.50 and gave the company a “buy” rating in a research note on Monday, June 12th. ValuEngine downgraded Spark Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Janney Montgomery Scott set a $22.00 target price on Spark Energy and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. Finally, BidaskClub downgraded Spark Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.08.
Spark Energy, Inc. (NASDAQ SPKE) traded up 1.61% during trading on Tuesday, hitting $15.80. The stock had a trading volume of 126,447 shares. Spark Energy, Inc. has a 52 week low of $11.52 and a 52 week high of $23.65. The stock has a market capitalization of $207.69 million, a P/E ratio of 21.76 and a beta of -1.57. The company has a 50-day moving average of $18.02 and a 200-day moving average of $18.12.
Spark Energy (NASDAQ:SPKE) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. The business had revenue of $151.44 million for the quarter, compared to the consensus estimate of $135.72 million. On average, equities analysts expect that Spark Energy, Inc. will post $0.89 earnings per share for the current fiscal year.
Spark Energy announced that its board has approved a stock buyback program on Wednesday, May 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the utilities provider to purchase up to 19.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.1813 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.66%. Spark Energy’s dividend payout ratio is presently 107.35%.
In other Spark Energy news, Director W Keith Maxwell III sold 6,800 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $21.01, for a total value of $142,868.00. Following the completion of the sale, the director now directly owns 689,380 shares in the company, valued at $14,483,873.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gil Melman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were 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. Over the last quarter, insiders have bought 52,804 shares of company stock worth $849,315 and have sold 154,342 shares worth $3,259,362. 66.89% of the stock is currently owned by company insiders.
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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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