El Paso Corporation (NYSEAMERICAN:EP – Get Free Report)’s stock 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 trading hands.
El Paso News Roundup
Here are the key news stories impacting El Paso this week:
- Positive Sentiment: Director Phil E. Mulacek bought 25,127 shares across four transactions from October 5–8 for approximately $68,048, increasing his direct ownership to 956,854 shares. The repeated purchases may signal insider confidence and provide a positive catalyst for EP. SEC insider ownership filing
- Positive Sentiment: El Paso shares recently moved above their 200-day moving average, which can attract momentum-focused investors and suggests improving technical sentiment. The stock remains above both its 50-day and 200-day averages. El Paso shares cross above 200-day moving average
- Neutral Sentiment: NewEdge Advisors LLC reported a new position of 51,064 shares, valued at approximately $137,000. The stake is small, representing about 0.12% of El Paso, so its market impact may be limited.
- Neutral Sentiment: News about an El Paso County sheriff’s budget deficit concerns local government finances and does not appear related to El Paso Corporation or its stock. El Paso County sheriff budget deficit podcast
- Negative Sentiment: Fundamental results remain weak: El Paso reported a quarterly loss of $0.06 per share, a negative net margin of 229.58% and a negative return on equity. Its current ratio of 0.42, quick ratio of 0.37 and debt-to-equity ratio of 1.85 also indicate financial risk.
El Paso Stock Performance
The firm has a 50 day moving average of $2.75 and a 200-day moving average of $2.74. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.37 and a current ratio of 0.42. The stock has a market capitalization of $133.12 million, a PE ratio of -1.56 and a beta of 0.52.
Insider Transactions at El Paso
In other news, Director Phil E. Mulacek purchased 14,508 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was bought at an average cost of $2.67 per share, for a total transaction of $38,736.36. Following the completion of the acquisition, the director directly owned 946,235 shares of the company’s stock, valued at approximately $2,526,447.45. The trade was a 1.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have acquired 42,819 shares of company stock valued at $108,606. Company insiders own 33.41% of the company’s stock.
Hedge Funds Weigh In On El Paso
A hedge fund recently bought a new position in El Paso stock. NewEdge Advisors LLC acquired a new stake in shares of El Paso Corporation (NYSEAMERICAN:EP – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 51,064 shares of the basic materials company’s stock, valued at approximately $137,000. NewEdge Advisors LLC owned 0.12% 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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