Despite the weekly nature of this column, it’s mainly aimed at long-term investors.
But long-term investors in this week’s eagle would be anyone who has owned the stock for eight hours.
The newborn new shares of Oklahoma City-based Enable Midstream Partners, which emerged on the floor of the New York Stock Exchange at 8:30 a.m. Friday, earned eagle status on their very first day. I’m certain the parents (OGE Energy and Centerpoint Energy) are very proud.
ENBL opened at $20 and, after the shares traded 18.3 million times, closed at $22.20. That’s an 11 percent gain.
Congratulations to the folks and all those new godparents who managed to snag some shares. Enjoy that new baby smell.
It was a rocky week on Wall Street, particularly in the technology sector.
While our beagle doesn’t dwell in the land of dot-coms, perhaps traders were turned off by its slightly techy moniker.
Matrix Service Co., a Tulsa firm that provides maintenance and construction to the energy sector and heavy industry, took an 8 percent tumble last week. The stock shed $2.74 to land at $31.56 at Friday’s close.
There was nothing particularly alarming about last week’s decline, which came amid the previously mentioned market volatility but was not accompanied by heavy volume or bad publicity.
At the end of the day, MTRX shares remain very close to their 52-week high, and nearly $20 north of their low over the past year.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.