To: BigBull who wrote (67165 ) 5/26/2000 10:36:00 AM From: Terry D Read Replies (1) | Respond to
From Bob Gabele - While insider selling has reached new highs this year -- particularly among the executives of Internet and technology firms -- one sector of the market has actually seen a fair amount of insider buying: energy companies. (EDIT - he really means utilities.)With the exception of oil services insiders , energy-sector execs have been among the year's most steadfast supporters of their companies' shares, and of those, the most active have been those in the natural gas industry. For example, at Southern Union (SUG:NYSE - news - boards), seven insiders have acquired more than 150,000 shares since March. At prices ranging from 13 to as high as 16 3/4, that's an investment of more than $2 million. After all, with oil clinging to 30 bucks a barrel, the big question on everyone's mind is how long can it be until folks start sniffing around for alternative fuels? Natural gas already plays an ever-growing role in the production of electricity (as Howard Simons points out). And have you heard that some of America's biggest factories can already shift their primary energy source from oil to natural gas on demand?
