Top Insider Buys Highlight for the Week of Aug. 28

Insiders load up on Enterprise Products Partners, Sempra Energy, Archer-Daniels Midland and Elanco Animal Health

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Aug 29, 2020
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The largest insider buys this week were in Enterprise Products Partners LP (EPD, Financial), Sempra Energy (SRE, Financial), Archer-Daniels Midland Co. (ADM, Financial) and Elanco Animal Health Inc. (ELAN, Financial).

Enterprise Products Partners executive vice president and chief operating officer bought 10,000 shares

Executive Vice President and Chief Operating Officer Graham W. Bacon bought 10,000 shares of Enterprise Products Partners on Aug. 26 for an average price of $17.50. The stock price has increased by 1.09% since then.

Enterprise Products is an American natural gas and crude oil pipeline company that is a member of the Fortune 500. The company's products include crude oil, refined products and petrochemicals. The company also transports oil and gas across over 51,000 miles of pipelines across multiple states and through the Gulf of Mexico. The company has a market capitalization of $38.67 billion; as of Aug. 28, it traded at $17.69.

On July 30, Enterprise Products Partners announced that its subsidiary, Enterprise Products Operating LLC, has priced a public offering of $1.25 billion aggregate principal amount of notes comprised of $250 million principal amount of senior notes due Jan. 31, 2030 and $1.0 billion principal amount of senior notes due Feb. 15, 2052. The net proceeds of the offering will be used for general company purposes, including growth capital investments and the repayment of debt.

Sempra Energy director bought 2,000 shares

Director Cynthia Lynn Walker bought 2,000 shares of Sempra Energy on Aug. 25 for an average price of $125.46. The stock has decreased by 2.5% since then.

Sempra Energy is an American international utility company that focuses on electric and natural gas infrastructure. The company owns several operating companies, including Southern California Gas Co., San Diego Gas & Electric and Oncor Electric Delivery Co. The company has a market capitalization of $35.38 billion; as of Aug. 28, it traded at $122.32.

On Aug. 10, Sempra Energy announced that the company has donated $150,000 to the Houston Food Bank supporting its Food for Change program to provide relief aid to vulnerable populations in the Houston community. The donation is the latest in a series of community investments the company has made for local Texas communities. In March, the company launched a Covid-19 Nonprofit Hardship Fund.

Archer-Daniels Midland director bought 11,100 shares

Director Pierre Dufour bought 11,100 shares of Archer-Daniels Midland on Aug. 25 for an average price of $44.75. Since then, the share price has increased by 0.34%.

Archer-Daniels Midland is a global food processing and commodities trading company. It processes cereal grains and oilseeds into products used in food, beverages and animal feed markets through the operation of more than 270 plants and 420 crop procurement facilities worldwide. The company has a market capitalization of $24.95 billion; as of Aug. 28, it traded at $44.90.

On Aug. 26, Archer-Daniels Midland announced the company has completed the previously announced $850 million Dual Tranche capital raising transaction. The company expects to use the net proceeds for general corporate purposes, including bolt-on acquisitions and the repurchasing of shares.

Elanco Animal Health director bought 10,000 shares

Director R. David Hoover bought 10,000 shares of Elanco on Aug. 28 for an average price of $28.43. The stock has increased by 2.46% since then.

Elanco Animal Health is an American pharmaceutical company that focuses on producing medicines and vaccinations for pets and livestock. The company was a subsidiary of Eli Lilly and Co. before being divested in 2019. The company has a market capitalization of $13.74 billion; as of Aug. 28, it traded at $29.13.

On Aug. 3, Elanco Animal Health announced that it has closed the acquisition of Bayer Animal health, valued at $6.89 billion. The transaction was funded by $5.17 billion in cash and 72.9 million shares to Bayer. The acquisition expands Elanco's scale and capabilities.

For the complete list of stocks that were bought by their company executives, go to insider trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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