January 13, 2016: Here are four stocks trading with heavy volume among 942 equities making new 52-week lows today.
Energy Transfer Equity LP (NYSE: ETE) dropped nearly 18% on Wednesday to post a new 52-week low of $7.39 against a 52-week high of $35.44. The stock closed at $8.98 on Tuesday night. Volume topped 45 million shares, approaching 3 times the stock’s daily average volume of around 17 million. ETE and its merger-partner Williams are the most active of the stocks making new lows today. Williams dropped 23% to post a new low of $12.77 on volume of more than 40 million shares traded today.
Kinder Morgan Inc. (NYSE: KMI) fell about 6.3% on Wednesday to post a new 52-week low of $12.75 against a high of $44.71. The stock closed at $13.60 on Tuesday night. Volume rose to about 33 million, about 15% below the daily average of around 38 million shares traded. The company had no specific news today, but investors are clearly worried about collapsing oil prices.
Twitter Inc. (NYSE: TWTR) dropped nearly 6% on Wednesday to post a new 52-week low at $18.47 after closing at $19.62 on Tuesday. The stock’s 52-week high is $53.49. Share volume totaled around 29 million shares compared with the daily average of around 20 million shares traded. Mizuho initiated coverage on the social media company today with a Neutral rating and a price target of $21. Morgan Stanley lowered its price target to $18 this morning as well.
Morgan Stanley (NYSE: MS) posted a new low on Wednesday. Shares dropped nearly 7% to a low of $26.50 from Tuesday’s closing price of $28.46. The stock’s 52-week high is $41.04. Volume was about double the daily average of around 12 million shares. Morgan Stanley was of several financial stocks posting new lows today. Among the others were Citigroup, Goldman Sachs, and Synchrony. The nation’s big banks begin to report earnings tomorrow with JPMorgan Chase leading things off.
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