Spark Energy, Inc. (SPKE) Shares Bought by American Century Companies Inc.
American Century Companies Inc. boosted its stake in Spark Energy, Inc. (NASDAQ:SPKE) by 108.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065,211 shares of the utilities provider’s stock after buying an additional 554,707 shares during the period. American Century Companies Inc. owned about 8.19% of Spark Energy worth $20,026,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Spark Energy during the first quarter valued at approximately $109,000. SG Americas Securities LLC raised its stake in shares of Spark Energy by 49.4% in the first quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock valued at $183,000 after buying an additional 1,898 shares during the last quarter. Highland Capital Management LLC purchased a new stake in shares of Spark Energy during the second quarter valued at approximately $194,000. Federated Investors Inc. PA purchased a new stake in shares of Spark Energy during the second quarter valued at approximately $194,000. Finally, Bank of Montreal Can raised its stake 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 during the last quarter. 35.98% of the stock is owned by institutional investors.
Shares of Spark Energy, Inc. (SPKE) opened at 15.65 on Friday. The company has a market cap of $205.72 million, a price-to-earnings ratio of 21.56 and a beta of -1.54. The company has a 50 day moving average price of $18.74 and a 200 day moving average price of $17.93. Spark Energy, Inc. has a one year low of $11.52 and a one year high of $23.65.
Spark Energy (NASDAQ:SPKE) last issued 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. The firm had revenue of $151.44 million during the quarter, compared to analysts’ expectations of $135.72 million. Spark Energy had a return on equity of 9.13% and a net margin of 1.68%. Equities analysts predict that Spark Energy, Inc. will post $0.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 29th will be paid a $0.1813 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.73 dividend on an annualized basis and a yield of 4.63%. Spark Energy’s dividend payout ratio (DPR) is 107.35%.
Spark Energy announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 24th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the utilities provider to repurchase up to 19.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Several analysts recently commented on the company. Zacks Investment Research lowered Spark Energy from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Guggenheim raised Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Friday, July 7th. BidaskClub lowered Spark Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. 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, Janney Montgomery Scott lowered Spark Energy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $22.95 to $24.00 in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $23.08.
In other Spark Energy news, VP Gil Melman sold 3,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $17.20, for a total transaction of $51,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nathan Kroeker purchased 1,775 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $26.30 per share, for a total transaction of $46,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,000 shares in the company, valued at approximately $26,300. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 5,025 shares of company stock valued at $120,208 and sold 154,342 shares valued at $3,259,362. Company 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.
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