{"scope": "industry", "title": "Multiline Utilities", "sector": "Utilities", "industry": "Multiline Utilities", "intelligence": {"score": 66, "label": "Accumulation bias", "tone": "positive", "stance": "Watch for market confirmation", "brief": "Priced common-share acquisitions carry more weighted evidence than disposals after freshness, role, size, and duplicate controls.", "confidence": 44, "confidence_label": "Thin evidence", "filings": 3, "companies": 1, "insiders": 2, "signal_events": 2, "acquisition_events": 1, "disposal_events": 1, "acquisition_share": 50.0, "disposal_share": 50.0, "acquisition_value": 14491.0, "disposal_value": 222930.0, "net_value": -208439.0, "acquisition_value_label": "$14.5K", "disposal_value_label": "$222.9K", "net_value_label": "-$208.4K", "data_quality": 67, "priced_common_share": 67, "latest_date": "2026-07-31", "latest_signal_date": "2026-07-31", "oldest_date": "2026-05-26", "evidence_classes": [{"key": "common_equity", "label": "Common equity", "count": 3, "bar_width": 100.0}, {"key": "equity_award", "label": "Equity compensation", "count": 0, "bar_width": 0.0}, {"key": "derivative", "label": "Options and derivatives", "count": 0, "bar_width": 0.0}, {"key": "other", "label": "Other securities", "count": 0, "bar_width": 0.0}], "roles": [{"label": "Other or unspecified", "count": 2, "bar_width": 100.0}, {"label": "Other executive", "count": 1, "bar_width": 50.0}], "supports": ["The latest qualifying evidence is fresh, dated 31 Jul 2026."], "risks": ["The group read is concentrated in very few companies."]}, "timeline": [{"start": "2026-05-25", "label": "25 May", "acquisitions": 0, "disposals": 1, "qualified_acquisitions": 0, "qualified_disposals": 1, "total": 1, "height": 100.0, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-06-01", "label": "01 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-08", "label": "08 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-15", "label": "15 Jun", "acquisitions": 1, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 1, "height": 100.0, "acquisition_height": 100.0, "disposal_height": 0.0}, {"start": "2026-06-22", "label": "22 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-29", "label": "29 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-06", "label": "06 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-13", "label": "13 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-20", "label": "20 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-27", "label": "27 Jul", "acquisitions": 1, "disposals": 0, "qualified_acquisitions": 1, "qualified_disposals": 0, "total": 1, "height": 100.0, "acquisition_height": 100.0, "disposal_height": 0.0}, {"start": "2026-08-03", "label": "03 Aug", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-08-10", "label": "10 Aug", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}], "peers": [{"label": "Utilities - Regulated Gas", "score": 81, "confidence": 98}, {"label": "Utilities - Regulated Water", "score": 69, "confidence": 86}, {"label": "Multiline Utilities", "score": 66, "confidence": 44}, {"label": "Utilities - Regulated Electric", "score": 51, "confidence": 93}, {"label": "Utilities - Renewable", "score": 43, "confidence": 74}, {"label": "Utilities - Independent Power Producers", "score": 30, "confidence": 64}, {"label": "Utilities - Diversified", "score": 20, "confidence": 45}], "leaders": {"constructive": [{"symbol": "CMSA", "name": "CMS Energy Corporation 5.6% JRSUB NT 78", "score": 66, "confidence": 50}], "cautious": [], "active": [{"symbol": "CMSA", "name": "CMS Energy Corporation 5.6% JRSUB NT 78", "score": 66, "confidence": 50}]}, "method": "Group reads measure breadth and conviction across controlled company-level insider evidence; they are classifications, not forecasts."}