Blackrock Inc. is Buying Gas Natural Inc. (NYSEMKT:EGAS) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Gas Natural Inc. (NYSEMKT:EGAS) reported that Blackrock Inc. has picked up 40,531 of common stock as of 2017-06-12.

The acquisition brings the aggregate amount owned by Blackrock Inc. to a total of 40,531 representing less than 0.4% stake in the company.

For those not familiar with the company, Gas Natural Inc. is a natural gas company. The Company operates through three segments: Natural Gas; Marketing and Production, and Corporate and others. The Natural Gas segment annually distributes approximately 20 billion cubic feet of natural gas to its customers through regulated utilities operating in Maine, Montana, North Carolina and Ohio. Its operations in Maine provide natural gas service to customers in Bangor, Brewer, Old Town, Orono, Bucksport, Hermon, Veazie and Lincoln. Its operations in Montana provide natural gas service to customers in Cascade, Gallatin and Glacier counties. Its North Carolina operations provide natural gas service to customers in Ashe, Surry, Warren, Watauga, Wilkes and Yadkin counties. The Company’s Marketing and Production segment annually markets approximately 1.5 billion cubic feet of natural gas to commercial and industrial customers in Montana, Wyoming and Ohio through its subsidiaries, Energy West Resources, Inc. and Gas Natural Resources, LLC.

A glance at Gas Natural Inc. (NYSEMKT:EGAS)’s key stats reveals a current market capitalization of 133.60 Million based on 10.52 Million shares outstanding and a price at last close of $12.70 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-05-23, Johnston picked up 1,151 at a purchase price of $6.89. This brings their total holding to 10,000 as of the date of the filing.

On the sell side, the most recent transaction saw Osborne unload 1,000 shares at a sale price of $11.00. This brings their total holding to 130,770.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Gas Natural Inc. (NYSEMKT:EGAS) as things move forward to see if its progress aligns with these transactions.

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