Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, NextEra Energy Partners LP (NYSE:NEP)'s EVP Corp Dev of GP, Mark E. Hickson, made a $50,638 buy of NEP, purchasing 1,350 shares at a cost of $37.51 each. Bargain hunters are able to snag NEP even cheaper than Hickson did, with shares changing hands as low as $36.56 at last check today which is 2.5% under Hickson's purchase price. NextEra Energy Partners LP is trading down about 0.3% on the day Thursday. This purchase marks the first one filed by Hickson in the past year.
And on Monday, CFO David West Griffin purchased $25,242 worth of Calumet Specialty Product Partners LP (NASDAQ:CLMT), purchasing 6,000 shares at a cost of $4.21 a piece. Before this latest buy, Griffin purchased CLMT on 2 other occasions during the past twelve months, for a total cost of $43,602 at an average of $4.11 per share. Calumet Specialty Product Partners LP is trading off about 0.6% on the day Thursday. Investors have the opportunity to buy CLMT even cheaper than Griffin did, with shares trading as low as $4.10 in trading on Thursday -- that's 2.5% under Griffin's purchase price.
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