Entergy Texas Preferred Opens Strong

As I expected the new 5.375% preferred from Entergy Texas (OTC:ETREP) opened strongly in the $25.25 area and is now trading around $25.50.

This is trading on eTrade, but I don’t see it even queued up yet at Fido.

I put in a small limit order at $25.50–if it doesn’t execute I will await the next opportunity–I am not going to chase it.

11 thoughts on “Entergy Texas Preferred Opens Strong”

  1. It appears this is listed on the NYSE. Does anyone know the symbol? I tried ETRPRA, but it does work.

    Thanks

    1. Ron–likely they won’t list a dividend on a new issue until the 1st one is “declared” bu the board.

  2. I decided to chase and bot a small position at 25.70. The other ETR bonds are trading very rich and I feel this one might join them.

  3. Your comment yesterday about small size of this issue got me thinking. Could this be a trial balloon similar to what NRZ did a few months back? Then they’ll come out with a second lower coupon issue if this one takes off?

    1. That makes two of us. I don’t know but plenty of sub 5% utes were issued back in the day.

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