Goldman Sacks weaker; Energy Transfer preferreds mixed; Annaly Capital better

By James McCandless

San Antonio, July 11 – The preferred space finished the Thursday session with a slightly positive bent.

At the top of trading, Goldman Sachs Group, Inc.’s 5.5% series J fixed-to-floating rate perpetual non-cumulative preferred stock saw a weaker day.

Elsewhere in finance, Deutsche Bank Contingent Capital Trust II’s 6.55% trust preferred securities and Deutsche Bank Contingent Capital Trust V’s 8.05% trust preferred securities were both positive.

Sector peer U.S. Bancorp’s series B floating rate non-cumulative perpetual preferreds saw a slight drop.

Meanwhile, Energy Transfer Operating, LP’s 7.6% series E and 7.625% series D fixed-to-floating rate cumulative redeemable perpetual preferred units were mixed.

REIT Annaly Capital Management, Inc.’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock ended better.

Goldman weaker

Ending up at the top of Thursday trading, Goldman Sachs’ 5.5% series J fixed-to-floating rate perpetual non-cumulative preferred stock saw a weaker day.

The preferreds (NYSE: GSPrJ) were down 2 cents to close at $26.10 on volume of about 385,000 shares.

Elsewhere in the finance space, Deutsche Bank’s 6.55% trust preferred securities and 8.05% trust preferred securities were both positive.

The 6.55% preferreds (NYSE: DXB) added 9 cents to close at $24.57 with about 289,000 shares trading.

The 8.05% preferreds (NYSE: DKT) rose 12 cents to close at $25.34 with about 199,000 shares trading.

Sector peer U.S. Bancorp’s series B floating rate non-cumulative perpetual preferreds saw a slight decline.

The preferreds (NYSE: USBPrH) declined by 1 cent to close at $20.11 on volume of about 185,000 shares.

Energy Transfer mixed

Meanwhile, in the energy space, Energy Transfer’s 7.6% series E and 7.625% series D fixed-to-floating rate cumulative redeemable perpetual preferred units saw mixed activity.

The series E preferreds (NYSE: ETPPrE) picked up 3 cents to close at $25.03 with about 288,000 shares trading.

The series D preferreds (NYSE: ETPPrD) shaved off 5 cents to close at $24.68 with about 223,000 shares trading.

Annaly Capital better

Elsewhere, real estate investment trust Annaly Capital’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock ended the session better.

The preferreds (NYSE: NLYPrI) were up 2 cents to close at $25.18 on volume of about 270,000 shares.

Indexes up

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.11% to close out the day, adding onto the 0.07% gain from early Thursday trading.

The iShares US Preferred Stock ETF was up 1 cent to close at $36.91.

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