Bank of New York Mellon Corp Purchases 99,119 Shares of Spark Energy, Inc. (SPKE)

Bank of New York Mellon Corp increased its position in shares of Spark Energy, Inc. (NASDAQ:SPKE) by 105.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,675 shares of the utilities provider’s stock after buying an additional 99,119 shares during the period. Bank of New York Mellon Corp owned about 1.45% of Spark Energy worth $3,622,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its stake in shares of Spark Energy by 78.1% during the second quarter. Advisors Asset Management Inc. now owns 82,896 shares of the utilities provider’s stock worth $1,558,000 after buying an additional 36,356 shares during the period. Rhumbline Advisers purchased a new stake in shares of Spark Energy during the second quarter worth approximately $243,000. DekaBank Deutsche Girozentrale increased its stake in shares of Spark Energy by 379.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 83,100 shares of the utilities provider’s stock worth $1,565,000 after buying an additional 65,781 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Spark Energy by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 182,478 shares of the utilities provider’s stock worth $3,431,000 after buying an additional 6,408 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Spark Energy by 100.0% during the second quarter. Bessemer Group Inc. now owns 26,600 shares of the utilities provider’s stock worth $500,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 35.98% of the company’s stock.

Spark Energy, Inc. (NASDAQ:SPKE) opened at 14.10 on Friday. The stock has a market capitalization of $185.34 million, a price-to-earnings ratio of 19.42 and a beta of -1.59. Spark Energy, Inc. has a 52 week low of $11.52 and a 52 week high of $23.65. The firm has a 50-day moving average of $15.92 and a 200 day moving average of $18.27.

Spark Energy (NASDAQ:SPKE) last announced its earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). Spark Energy had a net margin of 1.68% and a return on equity of 9.13%. The business had revenue of $151.44 million during the quarter, compared to analyst estimates of $135.72 million. On average, analysts anticipate that Spark Energy, Inc. will post $0.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 29th were given a $0.1813 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Friday, August 25th. Spark Energy’s payout ratio is 107.35%.

A number of analysts recently weighed in on the stock. Janney Montgomery Scott lowered shares of Spark Energy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $22.95 to $24.00 in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of Spark Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Wunderlich upped their target price on shares of Spark Energy from $22.00 to $27.50 and gave the stock a “buy” rating in a research note on Monday, June 12th. ValuEngine lowered shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, BidaskClub lowered shares of Spark Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $23.08.

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In other Spark Energy news, Director W Keith Maxwell III bought 47,779 shares of the business’s stock in a transaction on Friday, September 8th. The shares were bought at an average cost of $15.26 per share, with a total value of $729,107.54. Following the transaction, the director now directly owns 743,959 shares in the company, valued at approximately $11,352,814.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nathan Kroeker bought 1,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $26.41 per share, for a total transaction of $26,410.00. Following the completion of the transaction, the chief executive officer now owns 1,000 shares in the company, valued at $26,410. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 163,494 shares of company stock worth $2,638,265 and sold 158,342 shares worth $3,322,922. Corporate insiders own 66.89% of the company’s stock.

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.

Institutional Ownership by Quarter for Spark Energy (NASDAQ:SPKE)

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