Virtu Financial LLC bought a new stake in Spark Energy Inc (NASDAQ:SPKE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,282 shares of the utilities provider’s stock, valued at approximately $84,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Spark Energy by 2.9% in the second quarter. BlackRock Inc. now owns 967,722 shares of the utilities provider’s stock worth $9,435,000 after purchasing an additional 27,423 shares during the last quarter. Millennium Management LLC increased its position in Spark Energy by 175.5% during the 2nd quarter. Millennium Management LLC now owns 574,173 shares of the utilities provider’s stock valued at $5,598,000 after buying an additional 365,786 shares in the last quarter. JPMorgan Chase & Co. increased its position in Spark Energy by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,022,946 shares of the utilities provider’s stock valued at $8,440,000 after buying an additional 11,585 shares in the last quarter. Cim Investment Mangement Inc. acquired a new position in Spark Energy during the 3rd quarter valued at about $199,000. Finally, Trexquant Investment LP acquired a new position in Spark Energy during the 3rd quarter valued at about $110,000. Institutional investors and hedge funds own 31.90% of the company’s stock.
Several research analysts recently issued reports on SPKE shares. Zacks Investment Research raised Spark Energy from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Tuesday, November 6th. BidaskClub raised Spark Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. Finally, B. Riley reissued a “hold” rating on shares of Spark Energy in a report on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $12.58.
In related news, Director W Keith Maxwell III bought 29,212 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average cost of $8.65 per share, with a total value of $252,683.80. Following the completion of the acquisition, the director now directly owns 1,371,519 shares in the company, valued at $11,863,639.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 77,094 shares of company stock worth $704,668. 67.63% of the stock is owned by corporate insiders.
Shares of SPKE stock opened at $8.50 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 2.33 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $295.09 million, a PE ratio of -17.71 and a beta of -0.62. Spark Energy Inc has a fifty-two week low of $7.20 and a fifty-two week high of $13.35.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.1813 per share. This represents a $0.73 annualized dividend and a yield of 8.53%. The ex-dividend date is Thursday, February 28th. Spark Energy’s dividend payout ratio (DPR) is -152.08%.
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About Spark Energy
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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