Dr. Hugh Akston
Hedge fund manager, long/short equity, value

Gas Natural: Investigation And Insider-Selling Suggests Trouble Ahead

A messy situation is brewing at Gas Natural (NYSEMKT:EGAS) and investors need to proceed with caution. We believe the stock is heavily owned by retail investors looking for dividend yield; we think these investors need to realize EGAS is not a "widows and orphans" utility company. Sticking around to collect the dividend yield is like picking up pennies in front of a steamroller.

EGAS filed a NT 10-Q after the market closed last Friday (releasing bad news over the weekend is a classic signpost of stock market shenanigans) which notified the SEC that the Q3 report would be delayed. The reason given was as follows:

"On November 13, 2013, the Public Utilities Commission of Ohio issued an Opinion...
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