{"scope": "industry", "title": "Utilities - Independent Power Producers", "sector": "Utilities", "industry": "Utilities - Independent Power Producers", "intelligence": {"score": 30, "label": "Concentrated distribution", "tone": "negative", "stance": "Review exposure and filing context", "brief": "Priced common-share disposals are concentrated enough to warrant review, but they are not treated as a standalone bearish forecast.", "confidence": 65, "confidence_label": "Well supported", "filings": 51, "companies": 3, "insiders": 24, "signal_events": 16, "acquisition_events": 2, "disposal_events": 14, "acquisition_share": 12.5, "disposal_share": 87.5, "acquisition_value": 784284.32, "disposal_value": 20999656.52, "net_value": -20215372.2, "acquisition_value_label": "$784.3K", "disposal_value_label": "$21.0M", "net_value_label": "-$20.2M", "data_quality": 43, "priced_common_share": 31, "latest_date": "2026-08-04", "latest_signal_date": "2026-07-15", "oldest_date": "2026-05-27", "evidence_classes": [{"key": "common_equity", "label": "Common equity", "count": 45, "bar_width": 100.0}, {"key": "equity_award", "label": "Equity compensation", "count": 4, "bar_width": 8.9}, {"key": "derivative", "label": "Options and derivatives", "count": 0, "bar_width": 0.0}, {"key": "other", "label": "Other securities", "count": 2, "bar_width": 4.4}], "roles": [{"label": "Director", "count": 26, "bar_width": 100.0}, {"label": "Other executive", "count": 14, "bar_width": 53.8}, {"label": "Finance leadership", "count": 7, "bar_width": 26.9}, {"label": "Other or unspecified", "count": 3, "bar_width": 11.5}, {"label": "CEO and chair", "count": 1, "bar_width": 3.8}], "supports": ["Participation spans 24 named insiders rather than one filing source."], "risks": ["Qualifying disposal events outnumber acquisitions, although disposals receive a lower directional weight."]}, "timeline": [{"start": "2026-05-25", "label": "25 May", "acquisitions": 0, "disposals": 1, "qualified_acquisitions": 0, "qualified_disposals": 1, "total": 1, "height": 4.3, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-06-01", "label": "01 Jun", "acquisitions": 16, "disposals": 7, "qualified_acquisitions": 2, "qualified_disposals": 5, "total": 23, "height": 100.0, "acquisition_height": 69.6, "disposal_height": 30.4}, {"start": "2026-06-08", "label": "08 Jun", "acquisitions": 0, "disposals": 1, "qualified_acquisitions": 0, "qualified_disposals": 1, "total": 1, "height": 4.3, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-06-15", "label": "15 Jun", "acquisitions": 0, "disposals": 6, "qualified_acquisitions": 0, "qualified_disposals": 6, "total": 6, "height": 26.1, "acquisition_height": 0.0, "disposal_height": 100.0}, {"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": 1, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 1, "height": 4.3, "acquisition_height": 100.0, "disposal_height": 0.0}, {"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": 1, "qualified_acquisitions": 0, "qualified_disposals": 1, "total": 1, "height": 4.3, "acquisition_height": 0.0, "disposal_height": 100.0}, {"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": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-08-03", "label": "03 Aug", "acquisitions": 16, "disposals": 2, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 18, "height": 78.3, "acquisition_height": 88.9, "disposal_height": 11.1}, {"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": 80, "confidence": 98}, {"label": "Utilities - Regulated Water", "score": 69, "confidence": 86}, {"label": "Multiline Utilities", "score": 66, "confidence": 44}, {"label": "Utilities - Regulated Electric", "score": 50, "confidence": 93}, {"label": "Utilities - Renewable", "score": 45, "confidence": 74}, {"label": "Utilities - Independent Power Producers", "score": 30, "confidence": 65}, {"label": "Utilities - Diversified", "score": 22, "confidence": 42}], "leaders": {"constructive": [], "cautious": [{"symbol": "VST", "name": "Vistra Corp.", "score": 15, "confidence": 69}, {"symbol": "NRG", "name": "NRG Energy Inc.", "score": 43, "confidence": 75}], "active": [{"symbol": "NRG", "name": "NRG Energy Inc.", "score": 43, "confidence": 75}, {"symbol": "VST", "name": "Vistra Corp.", "score": 15, "confidence": 69}, {"symbol": "CEG", "name": "Constellation Energy Corp", "score": 50, "confidence": 35}]}, "method": "Group reads measure breadth and conviction across controlled company-level insider evidence; they are classifications, not forecasts."}