Insider Buying: El Paso (NYSEAMERICAN:EP) Major Shareholder Purchases 9,674 Shares of Company Stock

Key Points

• Evolution Master Fund Energy bought 9,674 El Paso shares at an average $2.59 each, spending about $25,056. After the purchase, it held nearly 11.8 million shares.
• The fund also made several other purchases in early November, including 48,025 shares on November 5, bringing its disclosed buying activity across the dates listed to more than 110,000 shares.
• El Paso shares traded at $2.40 in Thursday’s session, within a 52-week range of $1.96 to $4.00. The company reported a quarterly loss of $0.06 per share on $9.51 million in revenue.

El Paso Corporation (NYSEAMERICAN:EP - Get Free Report) major shareholder Evolution Master Fund Energy purchased 9,674 shares of the company's stock in a transaction dated Tuesday, November 10th. The shares were acquired at an average price of $2.59 per share, for a total transaction of $25,055.66. Following the purchase, the insider directly owned 11,796,776 shares of the company's stock, valued at approximately $30,553,649.84. The trade was a 0.08% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Evolution Master Fund Energy also recently made the following trade(s):

• On Wednesday, November 11th, Evolution Master Fund Energy acquired 9,480 shares of El Paso stock. The stock was bought at an average cost of $2.55 per share, with a total value of $24,174.00.
• On Monday, November 9th, Evolution Master Fund Energy acquired 9,417 shares of El Paso stock. The stock was bought at an average cost of $2.53 per share, with a total value of $23,825.01.
• On Friday, November 6th, Evolution Master Fund Energy bought 33,771 shares of El Paso stock. The stock was bought at an average price of $2.45 per share, with a total value of $82,738.95.
• On Thursday, November 5th, Evolution Master Fund Energy bought 48,025 shares of El Paso stock. The stock was bought at an average price of $2.02 per share, with a total value of $97,010.50.

El Paso Stock Performance

NYSEAMERICAN:EP traded down $0.06 during trading hours on Thursday, hitting $2.40. 22,093 shares of the company were exchanged, compared to its average volume of 70,327. The stock has a market capitalization of $99.84 million, a price-to-earnings ratio of -1.17 and a beta of 0.36. El Paso Corporation has a 52-week low of $1.96 and a 52-week high of $4.00. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.42 and a quick ratio of 0.37. The company's 50 day moving average price is $2.66 and its 200-day moving average price is $2.81.

El Paso (NYSEAMERICAN:EP - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The basic materials company reported ($0.06) earnings per share (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 hedge funds have recently made changes to their positions in EP. Sanders Morris Harris LLC acquired a new stake in El Paso during the 3rd quarter worth about $52,000. NewEdge Advisors LLC purchased a new stake in El Paso during the 2nd quarter valued at about $137,000. Finally, Susquehanna International Group LLP acquired a new position in shares of El Paso in the second quarter valued at about $173,000.

About El Paso

El Paso Corporation was an energy company focused primarily on natural gas transportation, storage and related infrastructure. Through its pipeline operations, the company provided services that connected natural gas producers with utilities, industrial customers and other markets across the United States. The company also operated exploration and production activities, with interests in the development of natural gas and oil properties. Its operations were concentrated largely in North America, particularly in major U.S. natural gas-producing regions and along key pipeline corridors.

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