There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on January 16, EV Energy Partners LP's Director, George Lindahl III, invested $74,072.00 into 5,000 shares of EVEP, for a cost per share of $14.81. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.In trading on Tuesday, bargain hunters could buy shares of EV Energy Partners LP ( EVEP) and achieve a cost basis 14.4% cheaper than Lindahl III, with shares changing hands as low as $12.68 per share. It should be noted that Lindahl III has collected $1.00/share in dividends since the time of their purchase, so they are currently down 7.7% on their purchase from a total return basis. EV Energy Partners LP shares are currently trading down about 0.4% on the day. The chart below shows the one year performance of EVEP shares, versus its 200 day moving average: Looking at the chart above, EVEP's low point in its 52 week range is $11.95 per share, with $41.97 as the 52 week high point — that compares with a last trade of $12.76. By comparison, below is a table showing the prices at which EVEP insider buying was recorded over the last six months:
|01/16/2015||George Lindahl III||Director||5,000||$14.81||$74,072.00|
|04/09/2015||John B. Walker||See Remarks||300,000||$14.25||$4,275,000.00|
According to the ETF Finder at ETF Channel, EVEP makes up 2.64% of the Junior MLP ETF ( MLPJ) which is trading lower by about 0.1% on the day Tuesday.