MetLife improves; Capital One preferreds positive; AT&T tracks higher

By James McCandless

San Antonio, Jan. 14 – The preferred market saw gains across the board as activity Tuesday drew to a close.

Leading volume again, insurance company MetLife, Inc.’s recent 4.75% series F non-cumulative preferred stock improved. The preferreds were up 10 cents to $25.40 on volume of about 1.1 million shares.

Meanwhile, in the finance space, Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferred stock was positive. The preferreds picked up 5 cents to close at $25.31 with about 531,000 shares trading.

Sector peer First Republic Bank’s 4.7% series J non-cumulative perpetual preferreds ended on a modest gain. The preferreds gained 2 cents to close at $25.30 on volume of about 308,000 shares.

Telecom services provider AT&T Inc.’s 5% series A perpetual preferred stock followed top traders higher. The preferreds gained 4 cents to close at $26.20 with about 451,000 shares trading.

Elsewhere, in oil and gas, Energy Transfer Operating, LP’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units were lifted. The preferreds picked up 10 cents to close at $26.06 on volume of about 221,000 shares.

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