Units of Tulsa-based ONEOK Partners LP, which gathers, stores, processes and moves natural gas and natural gas liquids, slipped 4 percent. The partnership's units closed Friday at $53.46.
The firm owns and operates assets in midstream natural gas and natural gas liquids businesses that are spread across the length and width of the Great Plains, from the Bakken Field in the north to the Texas Gulf Coast. The volume of natural gas the company processed and gathered jumped significantly last year, and officials last week said they expect another healthy increase in both categories this year.
OKS unit holders have seen their cash distribution regularly raised, and the yield is fairly robust compared to its peers.
So why the dip in price last week? Maybe someone sold a chunk of units to replenish their savings after tax season.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.