Utility stocks have taken a hit on the back of a weakening bond market, but have investors become too pessimistic about the prospects for Emera Inc. ? Insiders seem to think so. Over the past month, they have spent just over $400,000 buying shares in the public market. One of the buyers was chief executive officer Scott C. Balfour who picked up 5,000 shares at $49.97. We will keep a close eye on the stock as our proprietary INK Edge signal is currently mixed. However, insiders are clearly betting on brighter days ahead.
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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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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Ted Dixon