Insider Selling: Spark Energy Inc (SPKE) VP Sells $48,960.00 in Stock
Spark Energy Inc (NASDAQ:SPKE) VP Gil Melman sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $12.24, for a total value of $48,960.00. Following the transaction, the vice president now owns 29,308 shares in the company, valued at approximately $358,729.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Spark Energy Inc (NASDAQ:SPKE) traded up $0.15 during trading on Friday, hitting $11.50. The company’s stock had a trading volume of 164,500 shares, compared to its average volume of 221,867. Spark Energy Inc has a fifty-two week low of $10.70 and a fifty-two week high of $23.65. The firm has a market capitalization of $398.25, a PE ratio of 14.20 and a beta of -1.67. The company has a quick ratio of 1.58, a current ratio of 1.63 and a debt-to-equity ratio of 0.69.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Wednesday, November 29th were issued a dividend of $0.1813 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.30%. Spark Energy’s payout ratio is currently 90.12%.
Several institutional investors have recently made changes to their positions in SPKE. Vanguard Group Inc. raised its holdings in shares of Spark Energy by 118.4% during the second quarter. Vanguard Group Inc. now owns 1,220,209 shares of the utilities provider’s stock valued at $22,941,000 after acquiring an additional 661,547 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Spark Energy by 85.0% in the second quarter. JPMorgan Chase & Co. now owns 1,226,430 shares of the utilities provider’s stock valued at $23,057,000 after purchasing an additional 563,480 shares during the last quarter. LSV Asset Management increased its holdings in shares of Spark Energy by 90.6% in the second quarter. LSV Asset Management now owns 823,992 shares of the utilities provider’s stock valued at $15,491,000 after purchasing an additional 391,646 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Spark Energy by 83.0% in the second quarter. Wells Fargo & Company MN now owns 352,564 shares of the utilities provider’s stock valued at $6,628,000 after purchasing an additional 159,894 shares during the last quarter. Finally, Heartland Advisors Inc. increased its holdings in shares of Spark Energy by 144.1% in the third quarter. Heartland Advisors Inc. now owns 244,100 shares of the utilities provider’s stock valued at $3,662,000 after purchasing an additional 144,100 shares during the last quarter. 35.28% of the stock is owned by institutional investors and hedge funds.
SPKE has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Spark Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. ValuEngine raised Spark Energy from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. B. Riley cut Spark Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.50 to $17.00 in a report on Tuesday, November 7th. TheStreet raised Spark Energy from a “c+” rating to a “b-” rating in a report on Monday, December 11th. Finally, Janney Montgomery Scott raised Spark Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.21.
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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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