December 4, 2015: Here are four stocks trading with heavy volume among 200 equities making new 52-week lows today.
Kinder Morgan Inc. (NYSE: KMI) dropped about 14% on Friday to post a new 52-week low of $16.56 against a 52-week high of $44.71. The stock closed at $19.26 on Thursday night. Volume was more than 6 times the daily average of around 20 million shares traded. The pipeline giant confirmed its 2016 estimate of distributable cash flow today — an estimate that caused the stock to drop sharply when first announced in October.
Freeport-McMoRan Inc. (NYSE: FCX) dropped about 1.8% on Friday to post a new 52-week low of $7.54 against a high of $26.37. The stock closed at $7.68 on Thursday night. Volume totaled about equal to the daily average of around nearly 37.7 million shares traded. The company continues to be battered by a licensing squabble in Indonesia.
Chesapeake Energy Corp. (NYSE: CHK) posted a new low on Friday. Shares dropped about 8.2% to a low of $4.47 from Thursday’s closing price of $4.87. The stock’s 52-week high is $21.49. Volume was about a third higher than the daily average of around 20 million shares. The natural gas producer had no specific news today, but falling energy prices never augur well for Chesapeake.
Energy Transfer Equity LP (NYSE: ETE) dropped by about 7% on Friday to post a new 52-week low at $15.67 after closing at $16.85 on Thursday. The stock’s 52-week high is $35.44. Share volume was more than double the daily average of around 11 million. The company had no specific news today, but today was not a good day to be in the energy pipeline business.
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