Spark Energy Inc (SPKE) Position Raised by Crow Point Partners LLC
Crow Point Partners LLC boosted its position in shares of Spark Energy Inc (NASDAQ:SPKE) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,073,144 shares of the utilities provider’s stock after purchasing an additional 57,426 shares during the period. Spark Energy makes up 2.1% of Crow Point Partners LLC’s portfolio, making the stock its 15th biggest position. Crow Point Partners LLC’s holdings in Spark Energy were worth $13,253,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Spark Energy by 118.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,220,209 shares of the utilities provider’s stock worth $22,941,000 after acquiring an additional 661,547 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Spark Energy by 85.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,226,430 shares of the utilities provider’s stock worth $23,057,000 after acquiring an additional 563,480 shares in the last quarter. LSV Asset Management grew its holdings in Spark Energy by 90.6% during the 2nd quarter. LSV Asset Management now owns 823,992 shares of the utilities provider’s stock worth $15,491,000 after acquiring an additional 391,646 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Spark Energy by 83.0% during the 2nd quarter. Wells Fargo & Company MN now owns 352,564 shares of the utilities provider’s stock worth $6,628,000 after acquiring an additional 159,894 shares in the last quarter. Finally, Heartland Advisors Inc. grew its holdings in Spark Energy by 144.1% during the 3rd quarter. Heartland Advisors Inc. now owns 244,100 shares of the utilities provider’s stock worth $3,662,000 after acquiring an additional 144,100 shares in the last quarter. 35.28% of the stock is owned by institutional investors and hedge funds.
In other news, VP Gil Melman sold 4,000 shares of Spark Energy stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $12.24, for a total value of $48,960.00. Following the completion of the transaction, the vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $358,729.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director W Keith Maxwell III purchased 4,100 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $12.61 per share, with a total value of $51,701.00. Following the completion of the acquisition, the director now directly owns 864,813 shares in the company, valued at approximately $10,905,291.93. The disclosure for this purchase can be found here. Insiders bought a total of 102,750 shares of company stock valued at $1,304,516 over the last ninety days. Company insiders own 66.89% of the company’s stock.
Spark Energy Inc (NASDAQ SPKE) traded up $0.35 during midday trading on Wednesday, hitting $11.50. 146,000 shares of the stock traded hands, compared to its average volume of 180,267. Spark Energy Inc has a 1-year low of $10.70 and a 1-year high of $23.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 1.58. The firm has a market cap of $398.25, a price-to-earnings ratio of 14.20 and a beta of -1.67.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Wednesday, November 29th were issued a $0.1813 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.30%. The ex-dividend date was Tuesday, November 28th. Spark Energy’s dividend payout ratio (DPR) is presently 90.12%.
SPKE has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Spark Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. ValuEngine raised shares of Spark Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. TheStreet lowered shares of Spark Energy from a “b” rating to a “c+” rating in a report on Monday, October 23rd. Janney Montgomery Scott raised shares of Spark Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, November 1st. Finally, B. Riley lowered shares of Spark Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.50 to $17.00 in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $22.21.
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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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