Insider Buying: El Paso (NYSEAMERICAN:EP) Director Acquires 69,427 Shares of Stock

Key Points

• Director Phil Mulacek purchased 69,427 El Paso shares at an average $3.20 each, investing $222,166.40 and increasing his stake by 7.02% to 1,058,232 shares.
• El Paso shares recently traded at $3.39, above their 50-day and 200-day moving averages of $2.78 and $2.75, respectively, but remained below the 52-week high of $4.08.
• The company reported a quarterly loss of $0.06 per share on $9.51 million in revenue, alongside weak profitability metrics including a negative 229.58% net margin and 119.38% negative return on equity.

El Paso Corporation (NYSEAMERICAN:EP - Get Free Report) Director Phil Mulacek bought 69,427 shares of the company's stock in a transaction that occurred on Wednesday, October 14th. The shares were bought at an average price of $3.20 per share, with a total value of $222,166.40. Following the transaction, the director owned 1,058,232 shares of the company's stock, valued at $3,386,342.40. The trade was a 7.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

El Paso Price Performance

EP traded up $0.17 during trading on Monday, hitting $3.39. 109,140 shares of the company traded hands, compared to its average volume of 71,660. The company has a current ratio of 0.42, a quick ratio of 0.37 and a debt-to-equity ratio of 1.85. The company has a market cap of $141.02 million, a PE ratio of -1.65 and a beta of 0.52. The stock's 50-day simple moving average is $2.78 and its two-hundred day simple moving average is $2.75. El Paso Corporation has a 1 year low of $2.08 and a 1 year high of $4.08.

El Paso (NYSEAMERICAN:EP - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The basic materials company reported ($0.06) EPS for the quarter. El Paso had a negative return on equity of 119.38% and a negative net margin of 229.58%. The company had revenue of $9.51 million during the quarter.

Hedge Funds Weigh In On El Paso

Several institutional investors have recently added to or reduced their stakes in EP. Sanders Morris Harris LLC bought a new position in shares of El Paso during the 3rd quarter valued at approximately $52,000. NewEdge Advisors LLC bought a new stake in El Paso in the second quarter worth $137,000. Finally, Susquehanna International Group LLP bought a new stake in El Paso in the second quarter worth $173,000.

El Paso Company Profile

El Paso Corporation was an energy company focused primarily on the transportation, storage and processing of natural gas. Through its pipeline operations, the company provided infrastructure connecting natural gas-producing regions with utilities, power generators, industrial customers and other energy markets.

El Paso also participated in natural gas and oil exploration and production, as well as related midstream activities. Its operations were concentrated largely in the United States, with pipeline and energy infrastructure serving major regions across the country.

Doug Foshee served as El Paso Corporation's president and chief executive officer during the company's later years.

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