Balyasny Asset Management LLC acquired a new position in shares of Spark Energy, Inc. (NASDAQ:SPKE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 133,607 shares of the utilities provider’s stock, valued at approximately $2,512,000. Balyasny Asset Management LLC owned about 1.02% of Spark Energy as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of SPKE. Vanguard Group Inc. increased 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 purchasing an additional 661,547 shares during the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 563,480 shares during the last quarter. American Century Companies Inc. increased its holdings in Spark Energy by 108.7% during the 2nd quarter. American Century Companies Inc. now owns 1,065,211 shares of the utilities provider’s stock worth $20,026,000 after purchasing an additional 554,707 shares during the last quarter. Crow Point Partners LLC increased its holdings in Spark Energy by 68.1% during the 2nd quarter. Crow Point Partners LLC now owns 1,022,954 shares of the utilities provider’s stock worth $20,203,000 after purchasing an additional 414,395 shares during the last quarter. Finally, LSV Asset Management increased 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 purchasing an additional 391,646 shares during the last quarter. Institutional investors own 35.98% of the company’s stock.
Shares of Spark Energy, Inc. (SPKE) opened at 14.70 on Thursday. The company has a market capitalization of $193.23 million, a P/E ratio of 20.25 and a beta of -1.59. The stock has a 50 day moving average price of $15.67 and a 200-day moving average price of $18.29. Spark Energy, Inc. has a one year low of $11.52 and a one year high of $23.65.
Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings data 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). Spark Energy had a return on equity of 9.13% and a net margin of 1.68%. The firm had revenue of $151.44 million during the quarter, compared to the consensus estimate of $135.72 million. Equities research analysts predict that Spark Energy, Inc. will post $0.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 29th were given a $0.1813 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 4.93%. Spark Energy’s dividend payout ratio is currently 107.35%.
In other Spark Energy news, VP Gil Melman sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was 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 in the company, valued at approximately $529,264.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nathan Kroeker acquired 1,000 shares of Spark Energy stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $26.41 per share, with a total value of $26,410.00. Following the transaction, the chief executive officer now directly owns 1,000 shares in the company, valued at approximately $26,410. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 163,494 shares of company stock valued at $2,638,265 and sold 158,342 shares valued at $3,322,922. 66.89% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on the company. ValuEngine upgraded Spark Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research downgraded Spark Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub downgraded Spark Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. FBR & Co set a $24.00 price objective on Spark Energy and gave the stock a “buy” rating in a report on Monday, July 10th. Finally, Guggenheim upgraded Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Spark Energy currently has an average rating of “Hold” and an average price target of $23.08.
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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