Four new preferred stock and baby bond offerings, including DTK, XELLL, TCPA, and CCID, have been tracked with yields ranging from 6.25% to 7.375%. Notably, DTK (DTE Energy) and XELLL (Xcel Energy) issued investment-grade, junior subordinated notes due 2085 with 6.25% fixed coupons, both achieving a perfect Compliance Score. This market activity coincides with high-quality preferreds and ETDs currently trading at a 2% discount to par, yielding an average of 6.62%, indicating potential for investors to acquire new issues at wholesale prices via OTC markets.
Four new preferred stock and baby bond offerings, including DTK, XELLL, TCPA, and CCID, have been tracked with yields ranging from 6.25% to 7.375%. Notably, DTE Energy (DTK) and Xcel Energy (XELLL) issued investment-grade, junior subordinated notes due 2085, both featuring a 6.25% fixed coupon and achieving a perfect Compliance Score. These offerings from established energy companies contribute to a positive market sentiment, with individual ticker sentiments for DTK and XELLL at 0.8. The current market for high-quality preferreds and ETDs (Compliance Score 10) is trading at a 2% discount to par, with an average yield of 6.62%. This market condition, coupled with the strongly positive overall sentiment (0.7) surrounding the new issues, suggests a potentially attractive entry point for investors. The ability to acquire new preferred shares at wholesale prices via OTC markets, by tracking par crosses, presents a specific tactical advantage in identifying value.
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strongly positive
Sentiment Score
0.70
Ticker Sentiment
