Mackay Shields LLC Grows Holdings in Spark Energy Inc (SPKE)
Mackay Shields LLC grew its holdings in Spark Energy Inc (NASDAQ:SPKE) by 62.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,401 shares of the utilities provider’s stock after purchasing an additional 9,801 shares during the quarter. Mackay Shields LLC owned about 0.07% of Spark Energy worth $189,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Spark Energy by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,022,946 shares of the utilities provider’s stock worth $8,440,000 after purchasing an additional 11,585 shares in the last quarter. Vanguard Group Inc lifted its stake in Spark Energy by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 616,598 shares of the utilities provider’s stock worth $5,087,000 after purchasing an additional 4,886 shares in the last quarter. Nordea Investment Management AB lifted its stake in Spark Energy by 54.4% in the 3rd quarter. Nordea Investment Management AB now owns 507,331 shares of the utilities provider’s stock worth $4,185,000 after purchasing an additional 178,854 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in Spark Energy by 49.8% in the 4th quarter. Peregrine Capital Management LLC now owns 398,023 shares of the utilities provider’s stock worth $2,957,000 after purchasing an additional 132,336 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Spark Energy by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 146,147 shares of the utilities provider’s stock worth $1,085,000 after purchasing an additional 3,459 shares in the last quarter. 32.39% of the stock is currently owned by institutional investors and hedge funds.
SPKE has been the topic of a number of research reports. BidaskClub lowered shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. ValuEngine upgraded shares of Spark Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 19th. B. Riley cut their price target on shares of Spark Energy from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Finally, Zacks Investment Research upgraded shares of Spark Energy from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $12.67.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.1813 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.92%. Spark Energy’s dividend payout ratio is currently -105.80%.
In other news, CEO Nathan Kroeker sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $9.90, for a total transaction of $49,500.00. Following the completion of the sale, the chief executive officer now owns 95,449 shares in the company, valued at approximately $944,945.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 67.63% of the stock is owned by company insiders.
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Spark Energy Company Profile
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 is involved in the retail distribution of electricity and natural gas to residential, commercial, and industrial customers.
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