Spark Energy, Inc. (SPKE) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. grew its position in Spark Energy, Inc. (NASDAQ:SPKE) by 129.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,891 shares of the utilities provider’s stock after acquiring an additional 17,435 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.24% of Spark Energy worth $581,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of Spark Energy by 892.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 14,561 shares of the utilities provider’s stock valued at $274,000 after acquiring an additional 13,094 shares during the last quarter. Highland Capital Management LLC bought a new position in Spark Energy during the 2nd quarter worth $194,000. Swiss National Bank bought a new position in Spark Energy during the 2nd quarter worth $365,000. Bard Associates Inc. grew its stake in Spark Energy by 98.8% during the 2nd quarter. Bard Associates Inc. now owns 182,330 shares of the utilities provider’s stock worth $3,428,000 after buying an additional 90,615 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Spark Energy by 100.0% during the 2nd quarter. Bessemer Group Inc. now owns 26,600 shares of the utilities provider’s stock worth $500,000 after buying an additional 13,300 shares during the last quarter. Institutional investors and hedge funds own 36.71% of the company’s stock.
In other news, Director W Keith Maxwell III acquired 11,400 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average price of $16.37 per share, for a total transaction of $186,618.00. Following the completion of the acquisition, the director now directly owns 807,699 shares in the company, valued at approximately $13,222,032.63. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gil Melman sold 4,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $15.89, for a total value of $63,560.00. Following the completion of the sale, the vice president now owns 33,308 shares of the company’s stock, valued at approximately $529,264.12. The disclosure for this sale can be found here. In the last 90 days, insiders bought 160,719 shares of company stock valued at $2,550,672. Insiders own 66.89% of the company’s stock.
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Spark Energy, Inc. (SPKE) opened at $12.05 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.34 and a current ratio of 1.63. Spark Energy, Inc. has a 12-month low of $11.54 and a 12-month high of $23.65. The stock has a market capitalization of $417.29, a price-to-earnings ratio of 14.88 and a beta of -1.62.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Wednesday, November 29th will be issued a $0.1813 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.73 annualized dividend and a dividend yield of 6.02%. Spark Energy’s dividend payout ratio (DPR) is 90.12%.
A number of research analysts recently commented on the company. ValuEngine downgraded Spark Energy from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley downgraded Spark Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.50 to $17.00 in a research note on Tuesday, November 7th. Janney Montgomery Scott upgraded Spark Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 1st. TheStreet downgraded Spark Energy from a “b” rating to a “c+” rating in a research note on Monday, October 23rd. Finally, Zacks Investment Research upgraded Spark Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.21.
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.
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