Insider Buying: El Paso (NYSEAMERICAN:EP) Major Shareholder Buys $82,738.95 in Stock

El Paso Corporation (NYSEAMERICAN:EP) major shareholder Evolution Master Fund Energy bought 33,771 shares of the stock in a transaction on Friday, November 6th. The shares were bought at an average price of $2.45 per share, for a total transaction of $82,738.95. Following the purchase, the insider directly owned 11,777,685 shares in the company, valued at approximately $28,855,328.25. This trade represents a 0.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 9th, Evolution Master Fund Energy purchased 9,417 shares of El Paso stock. The shares were bought at an average cost of $2.53 per share, for a total transaction of $23,825.01.
• On Thursday, November 5th, Evolution Master Fund Energy purchased 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 Price Performance

Shares of EP stock opened at $2.46 on Thursday. The company has a 50 day moving average price of $2.67 and a 200-day moving average price of $2.82. El Paso Corporation has a 52 week low of $1.96 and a 52 week high of $4.00. The company has a current ratio of 0.42, a quick ratio of 0.37 and a debt-to-equity ratio of 1.85.

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

Institutional Investors Weigh In On El Paso

Hedge funds have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC purchased a new stake in El Paso during the 3rd quarter valued at $52,000. NewEdge Advisors LLC purchased a new position in shares of El Paso in the 2nd quarter worth $137,000. Finally, Susquehanna International Group LLP purchased a new position in shares of El Paso in the 2nd quarter worth $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.