The Globe and Mail reports in its Saturday edition that insiders at Inter Pipeline ($26.46) have been buying shares of late. The Globe's Ted Dixon writes in the Who's Buying and Selling column that Inter Pipeline stock has dropped about 5 per cent over the past three months. In contrarian fashion, insiders spent $792,312 picking up shares in the public market over the period. Most recently, on May 17, vice-president of oil sands pipeline development Cory Neufeld bought 2,000 shares at an average price of $26.60. Inter Pipeline appears part of a broader insider move to hedge bets with defensive interest-sensitive stocks. For example, in the semi-annual spring rebalancing of the INK Canadian Insider Index, the allocation to utilities rose to 4 per cent from 0 per cent. The Globe reported on Aug. 19, 2016, that BMO Nesbitt Burns analyst Ben Pham reiterated his "market perform" rating. In the item he hiked his share target to $28 from $27. The shares were then worth $27.70. The Globe's guest columnist Michael Pe was keen on Inter Pipeline in the Number Cruncher on Jan. 13, 2017. He said Inter Pipeline was a profitable stock with low volatility. The shares could then be had for $29.14.