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Top Buys by Top Brass: Chief Executive Officer Stice's $302.4K Bet on ACMP
By Energy Stock Channel Staff, Friday, December 28, 10:03 AM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $302.4K by J. Michael Stice, Chief Executive Officer at Access Midstream Partners LP (NYSE:ACMP).
Stice bets big on ACMP:
||J. Michael Stice
||Chief Executive Officer
Stice's average cost works out to $33.60/share. In trading on Friday, bargain hunters could buy shares of Access Midstream Partners LP (NYSE:ACMP) and achieve a cost basis lower than Stice, with shares changing hands as low as $32.54 per share. Shares of Access Midstream Partners LP were changing hands at $32.48 at last check, trading up about 0.1% on Friday. The chart below shows the one year performance of ACMP shares, versus its 200 day moving average:
Looking at the chart above, ACMP's low point in its 52 week range is $22.50 per share, with $37.57 as the 52 week high point — that compares with a last trade of $32.48.
The current annualized dividend paid by Access Midstream Partners LP is $1.74/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/05/2012. Below is a long-term dividend history chart for ACMP, which can be of good help in judging whether the most recent dividend with approx. 5.3% annualized yield is likely to continue.
ACMP makes up 2.95% of the MLP ETF (AMEX:MLPA)
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