While the utilities sector has been falling out of favour with some investors as interest rates have risen post Nov. 8, North American insiders have been warming up to the group.
Looking at Atlantic Power Corp., its share price received a boost in early November when the company reported a jump in cash provided by operating activities, from $14.3-million (U.S.) in the third quarter of 2015 to $38.2-million in the third quarter of 2016.
Meanwhile, insiders have been buying. Since the third-quarter news, three directors have bought 110,372 shares at an average price of $3.43.
Disclaimer:
Ted Dixon is CEO of INK Research, which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.