Southern Co. $25-par notes rise; Capital One improves; AT&T moves up

By James McCandless

San Antonio, Sept. 29 – At the end of Tuesday activity, the preferred space was largely unchanged with top traders skewing positively.

At the top of the day’s secondary trading, Southern Co.’s 6.25% series 2015A junior subordinated notes due 2075 were up 1 cent to close at $25.38 on volume of about 236,000 notes.

Elsewhere in the utilities space, NextEra Energy Capital Holdings, Inc.’s 5.125% series I junior subordinated debentures due 2072 tacked on 1 cent to close at $25.24 with about 191,000 debentures trading.

Meanwhile, in the finance space, Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferreds picked up 7 cents to close at $24.70 on volume of about 211,000 shares.

Sector peer PNC Financial Services Group, Inc.’s 5.375% series Q non-cumulative perpetual preferreds gained 1 cent to close at $25.00 with about 186,000 shares trading.

Telecom services giant AT&T, Inc.’s 4.75% series C perpetual preferreds added 5 cents to close at $25.72 on volume of about 182,000 shares.

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