On November 21, 2024, John Musgrave, CEO & President of NXG Cushing Midstream Energy Fund, purchased 773 shares of the company. Following this transaction, the insider now owns a total of 3,094.8001 shares. This transaction is documented in the SEC Filing.
NXG Cushing Midstream Energy Fund (SRV, Financial) is a closed-end fund that primarily invests in midstream energy companies. These companies are involved in the transportation, storage, and processing of oil, natural gas, and other energy resources.
The insider's recent purchase is part of a broader trend within the company. Over the past year, there have been four insider buys and one insider sell. This indicates a general trend of insider confidence in the company's prospects.
On the day of the purchase, shares of NXG Cushing Midstream Energy Fund were trading at $41.80, giving the stock a market cap of $133.879 million. The company's price-earnings ratio stands at 3.71, which is lower than the industry median of 11.24 and also below the company's historical median price-earnings ratio. This valuation metric suggests that the stock may be undervalued compared to its peers and its own historical performance.
The insider's activity, along with the company's current valuation metrics, may be of interest to investors considering the potential for future growth in the midstream energy sector.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
