Potential TC Energy Corporation (TSE:TRP) shareholders may wish to note that the Executive VP of Stakeholder Relations & General Counsel, Patrick Keys, recently bought CA$251k worth of stock, paying CA$62.82 for each share. That’s a very decent purchase to our minds and it grew their holding by a solid 41%.
TC Energy Insider Transactions Over The Last Year
The insider, David Kohlenberg, made the biggest insider sale in the last 12 months. That single transaction was for CA$969k worth of shares at a price of CA$58.64 each. That means that an insider was selling shares at slightly below the current price (CA$63.50). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. However, while insider selling is sometimes discouraging, it’s only a weak signal. We note that the biggest single sale was 53.1% of David Kohlenberg’s holding.
Over the last year, we can see that insiders have bought 49376 shares worth CA$2.7m. On the other hand they divested 20434 shares, for CA$1.2m. In the last twelve months there was more buying than selling by TC Energy insiders. The average buy price was around CA$55.54. These transactions show that insiders have confidence to invest their own money in the stock, albeit at slightly below the recent price. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Does TC Energy Boast High Insider Ownership?
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it’s a good sign if insiders own a significant number of shares in the company. TC Energy insiders own about CA$56m worth of shares. That equates to 0.09% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The TC Energy Insider Transactions Indicate?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. Given that insiders also own a fair bit of TC Energy we think they are probably pretty confident of a bright future. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for TC Energy.
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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