Insider Spends CA$1.8m Buying More Shares In TC Energy
TC Energy Corporation (TSE:TRP) shareholders (or potential shareholders) will be happy to see that the Independent Chairman of the Board, Siim Vanaselja, recently bought a whopping CA$1.8m worth of stock, at a price of CA$45.88. That increased their holding by a full 333%, which arguably implies the sort of confidence required for a shy sweet-natured nerd to ask the most popular kid in the school to go out on a date.
See our latest analysis for TC Energy
TC Energy Insider Transactions Over The Last Year
In fact, the recent purchase by Siim Vanaselja was the biggest purchase of TC Energy shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of CA$48.08. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for TC Energy share holders is that insiders were buying at near the current price.
In the last twelve months insiders purchased 205.93k shares for CA$11m. But they sold 4.70k shares for CA$291k. In the last twelve months there was more buying than selling by TC Energy insiders. Their average price was about CA$51.24. This is nice to see since it implies that insiders might see value around current prices. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. TC Energy insiders own about CA$27m worth of shares. That equates to 0.06% of the company. 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 Does This Data Suggest About TC Energy Insiders?
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. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing TC Energy. To that end, you should learn about the 5 warning signs we've spotted with TC Energy (including 2 which are significant).
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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.
