Panagora Asset Management Inc. grew its stake in Spark Energy Inc (NASDAQ:SPKE) by 53.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,322 shares of the utilities provider’s stock after acquiring an additional 36,829 shares during the period. Panagora Asset Management Inc. owned 0.30% of Spark Energy worth $1,178,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in SPKE. Bank of America Corp DE grew its holdings in shares of Spark Energy by 13.5% in the 4th quarter. Bank of America Corp DE now owns 15,446 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 1,840 shares in the last quarter. Dupont Capital Management Corp bought a new position in Spark Energy during the first quarter worth about $123,000. Spark Investment Management LLC grew its holdings in Spark Energy by 5.5% during the first quarter. Spark Investment Management LLC now owns 242,654 shares of the utilities provider’s stock worth $2,162,000 after purchasing an additional 12,654 shares during the period. JPMorgan Chase & Co. grew its holdings in Spark Energy by 7.0% during the first quarter. JPMorgan Chase & Co. now owns 1,266,185 shares of the utilities provider’s stock worth $11,282,000 after purchasing an additional 82,771 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Spark Energy during the first quarter worth about $816,000. Institutional investors own 29.22% of the company’s stock.
Spark Energy stock traded down $0.17 during midday trading on Thursday, reaching $9.83. 4,929 shares of the company’s stock were exchanged, compared to its average volume of 114,290. The stock’s 50-day simple moving average is $10.34 and its 200 day simple moving average is $10.10. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.44 and a current ratio of 1.45. The firm has a market cap of $333.86 million, a price-to-earnings ratio of -14.26 and a beta of -0.35. Spark Energy Inc has a 52 week low of $7.20 and a 52 week high of $11.71.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be given a dividend of $0.181 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.72 annualized dividend and a yield of 7.37%. Spark Energy’s dividend payout ratio (DPR) is presently -105.80%.
A number of equities analysts recently commented on the company. BidaskClub cut Spark Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research cut Spark Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, ValuEngine cut Spark Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.
In related news, Director W Keith Maxwell III acquired 2,850 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was purchased at an average cost of $11.13 per share, for a total transaction of $31,720.50. Following the completion of the transaction, the director now directly owns 2,521,265 shares of the company’s stock, valued at approximately $28,061,679.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 77,818 shares of company stock valued at $810,759 over the last 90 days. Company insiders own 66.98% of the company’s stock.
Spark Energy 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 engages in the retail distribution of electricity and natural gas to residential and commercial customers.
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