Independent Director Dheeraj Verma Just Bought 46% More Shares In TC Energy Corporation (TSE:TRP)
TC Energy Corporation (TSE:TRP) shareholders (or potential shareholders) will be happy to see that the Independent Director, Dheeraj Verma, recently bought a whopping CA$755k worth of stock, at a price of CA$51.22. Not only is that a big swing, but it increased their holding size by 46%, which is definitely great to see.
View our latest analysis for TC Energy
The Last 12 Months Of Insider Transactions At TC Energy
In fact, the recent purchase by Independent Director Dheeraj Verma was not their only acquisition of TC Energy shares this year. They previously made an even bigger purchase of CA$1.3m worth of shares at a price of CA$64.86 per share. That means that an insider was happy to buy shares at above the current price of CA$53.86. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
Happily, we note that in the last year insiders paid CA$6.0m for 104.35k shares. But insiders sold 6.53k shares worth CA$421k. In total, TC Energy insiders bought more than they sold over the last year. The average buy price was around CA$57.71. I'd consider this a positive as it suggests insiders see value at around the current price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It appears that TC Energy insiders own 0.05% of the company, worth about CA$30m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The TC Energy Insider Transactions Indicate?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of TC Energy we think they are probably pretty confident of a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. When we did our research, we found 5 warning signs for TC Energy (2 shouldn't be ignored!) that we believe deserve your full attention.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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