El Paso (NYSEAMERICAN:EP) Stock Price Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• El Paso shares rose 3.2%, reaching $3.33 and closing at $3.25, above the stock’s 200-day moving average of $2.74.
• The company reported a quarterly loss of $0.06 per share on $9.51 million in revenue, alongside a negative net margin of 229.58% and negative return on equity of 119.38%.
• Director Phil E. Mulacek purchased 11,915 shares, while Susquehanna International Group opened a new position of 64,693 shares; insiders own 33.41% of the company.

El Paso Corporation (NYSEAMERICAN:EP - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $2.74 and traded as high as $3.33. El Paso shares last traded at $3.25, with a volume of 95,996 shares.

El Paso Trading Up 3.2%

The firm has a market capitalization of $135.20 million, a PE ratio of -1.59 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 1.85. The company's 50-day simple moving average is $2.73 and its 200 day simple moving average is $2.74.

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

Insiders Place Their Bets

In other news, Director Phil E. Mulacek bought 11,915 shares of the stock in a transaction on Wednesday, September 30th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $26,808.75. Following the completion of the purchase, the director directly owned 931,727 shares in the company, valued at approximately $2,096,385.75. The trade was a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 33.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On El Paso

An institutional investor recently bought a new position in El Paso stock. Susquehanna International Group LLP acquired a new stake in shares of El Paso Corporation (NYSEAMERICAN:EP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 64,693 shares of the basic materials company's stock, valued at approximately $173,000. Susquehanna International Group LLP owned about 0.16% of El Paso at the end of the most recent quarter.

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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