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ETP's Series E Preferred Shares Cross 9% Yield Mark
By Preferred Stock Channel Staff, Tuesday, September 15, 2:06 PM ET
In trading on Tuesday, shares of ETP's 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (NYSE:ETP.PRE) were yielding above the 9% mark based on its quarterly dividend (annualized to $1.90), with shares changing hands as low as $20.07 on the day. This compares to an average yield of 10.40% in the "Oil & Gas Equipment & Services" preferred stock category, according to Preferred Stock Channel. As of last close, ETP.PRE was trading at a 17.96% discount to its liquidation preference amount, versus the average discount of 18.87% in the "Oil & Gas Equipment & Services" category.
The chart below shows the one year performance of ETP.PRE shares, versus ETP:
Below is a dividend history chart for ETP.PRE, showing historical dividend payments on ETP's 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units :
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In Tuesday trading, ETP's 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (NYSE:ETP.PRE) is currently up about 0.4% on the day, while the common shares (ETP) are trading flat.
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