Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Energy Transfer Operating LP > News item |
Energy Transfer preferreds weaken; Spire declines; Deutsche Bank preferreds improve
By James McCandless
San Antonio, May 30 – Despite the broader preferred market’s rise throughout the Thursday session, volume leaders were mixed again.
Oil and gas name Energy Transfer Operating, LP’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units ended weaker, leading trading.
Elsewhere, in utilities, Spire Inc.’s 5.9% series A cumulative redeemable perpetual preferreds also declined.
Meanwhile, in finance, Deutsche Bank Contingent Capital Trust II’s 6.55% trust preferred securities improved.
Sector peer KeyCorp’s 5.625% fixed-rate perpetual non-cumulative preferreds finished slightly under water.
Insurance provider American International Group, Inc.’s 5.85% series A non-cumulative perpetual preferred stock gained.
Energy Transfer down
In the oil and gas space, Energy Transfer’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units led trading for a second day as it finished weaker.
The preferreds (NYSE: ETPPrE) were down 2 cents to close at $24.64 on volume of about 1 million shares.
On Wednesday, the preferreds lost 10 cents.
Spire declines
Elsewhere, in utilities, Spire’s 5.9% series A cumulative redeemable perpetual preferreds were also in decline.
The preferreds (NYSE: SRPrA) declined 3 cents to close at $25.90 with about 382,000 shares trading.
On Wednesday, the preferreds fell 3 cents.
Deutsche Bank better
Meanwhile, in the finance space, Deutsche Bank’s 6.55% trust preferred securities saw an improvement by the close.
The preferreds (NYSE: DXB) gained 5 cents to close at $24.56 on volume of about 228,000 shares.
Sector peer KeyCorp’s 5.625% fixed-rate perpetual non-cumulative preferreds finished slightly lower.
The preferreds (NYSE: KEYPrK) slipped 2 cents to close at $25.31 with about 222,000 shares trading.
AIG gains
Insurance provider AIG’s 5.85% series A non-cumulative perpetual preferred stock gained throughout the day.
The preferreds (NYSE: AIGPrA) added 25 cents to close at $26.33 on volume of about 207,000 shares.
Indexes up
The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.20% at the close, bolstering a 0.18% rise from early Thursday trading.
The iShares US Preferred Stock ETF was up 5 cents to $36.65.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.