As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Kinder Morgan Energy Partners (NYSE:KMP)'s COO, Steven J. Kean, made a $198,781 purchase of KMP, buying 2,450 shares at a cost of $81.13 each. Investors have the opportunity to grab KMP even cheaper than Kean did, with shares changing hands as low as $80.00 at last check today -- that's 1.4% under Kean's purchase price. This buy marks the first one filed by Kean in the past twelve months.
And at UGI (NYSE:UGI), there was insider buying on Monday, by CFO Kirk R. Oliver who purchased 5,000 shares at a cost of $38.48 each, for a total investment of $192,410. This buy marks the first one filed by Oliver in the past twelve months. UGI is trading up about 0.3% on the day Thursday.
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