Peregrine Capital Management LLC purchased a new position in shares of Spark Energy, Inc. (NASDAQ:SPKE) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 225,372 shares of the utilities provider’s stock, valued at approximately $4,237,000. Peregrine Capital Management LLC owned 1.73% of Spark Energy as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highland Capital Management LLC bought a new position in Spark Energy during the second quarter worth $194,000. Nisa Investment Advisors LLC increased its position in shares of Spark Energy by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 14,020 shares of the utilities provider’s stock valued at $300,000 after buying an additional 7,010 shares in the last quarter. Crow Point Partners LLC increased its position in shares of Spark Energy by 68.1% in the second quarter. Crow Point Partners LLC now owns 1,022,954 shares of the utilities provider’s stock valued at $20,203,000 after buying an additional 414,395 shares in the last quarter. Bank of Montreal Can increased its position in shares of Spark Energy by 63.0% in the second quarter. Bank of Montreal Can now owns 10,528 shares of the utilities provider’s stock valued at $198,000 after buying an additional 4,070 shares in the last quarter. Finally, Lucus Advisors LLC acquired a new position in shares of Spark Energy during the first quarter valued at approximately $415,000. Hedge funds and other institutional investors own 22.95% of the company’s stock.
Spark Energy, Inc. (NASDAQ SPKE) traded up 3.71% during trading on Friday, hitting $18.15. The stock had a trading volume of 133,827 shares. The stock has a market capitalization of $238.58 million, a P/E ratio of 25.00 and a beta of -1.62. The company has a 50-day moving average of $19.99 and a 200-day moving average of $29.46. Spark Energy, Inc. has a 52 week low of $16.60 and a 52 week high of $23.65.
Spark Energy (NASDAQ:SPKE) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.15. The company had revenue of $151.44 million during the quarter, compared to the consensus estimate of $135.72 million. Spark Energy had a return on equity of 9.13% and a net margin of 1.68%. On average, equities analysts expect that Spark Energy, Inc. will post $0.68 earnings per share for the current fiscal year.
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 3.99%. Spark Energy’s dividend payout ratio is presently 107.35%.
Spark Energy announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the utilities provider to repurchase up to 19.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Several analysts recently weighed in on SPKE shares. FBR & Co reissued an “outperform” rating and set a $18.50 price target (up from $16.50) on shares of Spark Energy in a report on Tuesday, May 9th. Ladenburg Thalmann Financial Services lifted their price target on Spark Energy from $16.50 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, May 9th. TheStreet raised Spark Energy from a “c” rating to a “b-” rating in a report on Monday, May 8th. Janney Montgomery Scott set a $22.00 price target on Spark Energy and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Finally, Zacks Investment Research raised Spark Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Spark Energy currently has an average rating of “Hold” and an average price target of $23.08.
In other Spark Energy news, Director W Keith Maxwell III acquired 12,638 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average cost of $36.62 per share, for a total transaction of $462,803.56. Following the completion of the purchase, the director now owns 323,348 shares in the company, valued at $11,841,003.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gil Melman sold 3,000 shares of the 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 51,380 shares of company stock worth $1,914,818 and have sold 175,586 shares worth $4,175,616. 66.89% of the stock is currently owned by company insiders.
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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