With central banks cutting interest rates, utility stocks have been hot. As of mid-week, the S&P/TSX Capped Utilities Index was up 13.1 per cent over 90 days on a price basis, led by ATCO Ltd. ACO-X-T, up 23.5 per cent. Meanwhile, the stock sports a below sector average trailing price-to-earnings ratio of 14. After Sept. 18 news that ATCO Energy Systems is advancing its $2.8-billion Yellowhead Mainline natural gas project. ATCO CEO Nancy Southern reported buying 61,500 Shares Class I at an average price of $46.49 between September 23 and 25. The shares were purchased by registered holder Sentgraf Enterprises Ltd (Sentgraf). Ms. Southern is a trustee of the Sentgraf Spousal Trust which controls Sentgraf.
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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.
Editor’s note: This article has been updated to clarify that ATCO CEO Nancy Southern purchased shares for the registered holder Sentgraf Enterprises Ltd.