NiSource preferreds active, little changed in trading; JPMorgan, Southern Co. weaken

By James McCandless

San Antonio, Dec. 17 – A new week for the preferred market started with broad negativity.

Leading trading volume, NiSource Inc.’s recent series B fixed-rate reset cumulative redeemable perpetual preferred stock was active but flat.

The preferreds, trading under the temporary symbol “NISOP,” were level at $24.95 on volume of about 494,000 shares.

Elsewhere in utilities, Southern Co.’s 6.25% series 2015A junior subordinated notes due 2075 were negative.

The notes (NYSE: SOJA) were down 12 cents to close at $24.95 with about 212,000 notes trading.

In finance, JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferreds ended the day lower.

The preferreds (NYSE: JPMPrD) lost 21 cents to close at $24.49 on volume of about 456,000 shares.

Goldman Sachs Group, Inc.’s series D and series A floating-rate non-cumulative preferred stocks were also declining.

The series D preferreds (NYSE: GSPrD) dropped 40 cents to close at $17.60 with about 420,000 shares trading.

The series A preferreds (NYSE: GSPrA) were down 38 cents to close at $17.76 with about 232,000 shares trading.

U.S. Bancorp’s series B floating-rate non-cumulative perpetual preferreds followed the negative trend.

The preferreds (NYSE: USBPrH) declined 29 cents to close at $18.61 on volume of about 417,000 shares.

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