Regions Financial preferreds rise; Energy Transfer declines; Duke Energy improves

By James McCandless

San Antonio, April 26 – Top-trading preferred shares were largely better to finish the week as the overall market finished mixed.

Leading trading volume for a third time, Regions Financial Corp.’s new 5.7% series C fixed-to-floating rate non-cumulative perpetual preferred stock rose.

The preferreds, trading under the temporary symbol “RXFCL,” were up 4 cents to close at $25.25 on volume of about 985,000 shares trading.

On Thursday, the preferreds picked up 12 cents.

Elsewhere in finance, KeyCorp’s recent 5.625% series G non-cumulative redeemable preferred shares were also positive.

The preferreds, trading under the temporary symbol “KEYLL,” improved by 2 cents to close at $24.92 with about 477,000 shares trading.

JPMorgan Chase & Co.’s 5.75% series D non-cumulative preferred stock followed the upward trend.

The preferreds (NYSE: JPMPrD) gained 17 cents to close at $26.57 on volume of about 317,000 shares.

Meanwhile, in oil and gas, Energy Transfer Operating, LP’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units saw a decline.

The preferreds (NYSE: ETPPrE) lost 3 cents to close at $24.95 with about 492,000 shares trading.

Utilities name Duke Energy Corp.’s 5.75% series A cumulative redeemable perpetual preferreds improved.

The preferreds (NYSE: DUKPrA) added 13 cents to close at $25.93 on volume of about 352,000 shares.

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