El Paso (NYSEAMERICAN:EP) Director Phil Mulacek Acquires 4,023 Shares of Company Stock

El Paso Corporation (NYSEAMERICAN:EP) Director Phil Mulacek bought 4,023 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were bought at an average cost of $2.72 per share, with a total value of $10,942.56. Following the completion of the transaction, the director owned 952,573 shares in the company, valued at $2,590,998.56. The trade was a 0.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

El Paso Price Performance

Shares of EP opened at $3.30 on Wednesday. El Paso Corporation has a 12 month low of $2.08 and a 12 month high of $4.08. The stock’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $2.74. 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) last released its quarterly earnings results on Friday, August 14th. The basic materials company reported ($0.06) EPS for the quarter. The company had revenue of $9.51 million during the quarter. El Paso had a negative net margin of 229.58% and a negative return on equity of 119.38%.

Hedge Funds Weigh In On El Paso

An institutional investor recently bought a new stake in El Paso stock. NewEdge Advisors LLC bought a new stake in El Paso Corporation (NYSEAMERICAN:EP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,064 shares of the basic materials company’s stock, valued at approximately $137,000. NewEdge Advisors LLC owned about 0.12% of El Paso at the end of the most recent reporting period.

Key El Paso News

Here are the key news stories impacting El Paso this week:

• Positive Sentiment: Director Phil E. Mulacek made four open-market purchases between October 5 and October 8, acquiring a combined 25,127 shares for approximately $68,048. His ownership increased to 956,854 shares, signaling continued insider confidence in El Paso Corporation. SEC insider ownership filing
• Positive Sentiment: El Paso Corporation’s shares recently moved above their 200-day moving average, a technical development that can attract momentum-oriented investors and suggest improving market sentiment. El Paso shares cross above 200-day moving average
• Neutral Sentiment: Reports about El Paso County’s sheriff facing a budget deficit concern local government finances and do not appear to involve El Paso Corporation or its stock. El Paso County sheriff budget deficit podcast
• Neutral Sentiment: El Paso Water’s upcoming budget meetings also relate to a separate municipal utility and have no direct announced impact on El Paso Corporation. El Paso Water budget meetings

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.