Shares of El Paso Corporation (NYSEAMERICAN:EP – Get Free Report) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $2.86 and traded as low as $2.80. El Paso shares last traded at $2.83, with a volume of 35,393 shares traded.
El Paso Trading Down 2.2%
The stock has a 50 day moving average of $2.83 and a two-hundred day moving average of $2.85. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 1.85.
El Paso (NYSEAMERICAN:EP – Get Free Report) last released its earnings results on Friday, August 14th. The basic materials company reported ($0.06) EPS for the quarter. El Paso had a negative net margin of 229.58% and a negative return on equity of 119.38%. The business had revenue of $9.51 million during the quarter.
Insiders Place Their Bets
In related news, Director Phil E. Mulacek bought 69,427 shares of the company’s stock in a transaction on Wednesday, October 14th. The stock was bought at an average cost of $3.20 per share, with a total value of $222,166.40. Following the completion of the acquisition, the director owned 1,058,232 shares in the company, valued at approximately $3,386,342.40. This represents a 7.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 140,800 shares of company stock worth $421,440 in the last quarter. Corporate insiders own 33.41% of the company’s stock.
Institutional Investors Weigh In On El Paso
Institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP acquired a new position in El Paso during the second quarter worth $173,000. NewEdge Advisors LLC acquired a new stake in El Paso in the second quarter valued at $137,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of El Paso in the third quarter valued at $52,000.
El Paso Company Profile
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.
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