Eagle & Beagle
Utility stocks are known to be a bit boring, and thus appear in this column infrequently.
But here's one of those rare exceptions. Shares of ONEOK, the Tulsa natural gas giant and parent of Oklahoma Natural Gas, added nearly 8 percent last week to close at $43.17.
The stock has been a bit of a laggard this year, but has attracted the attention of options traders.
A tracking program called OptionMonster last week noted unusual volume in calls, which lock in a price where shares can be purchased and provide investors with a relatively inexpensive way to profit from gains.
It's a bet, albeit a small one, that the stock price is going to rise.
A solid company with a recent lackluster stock performance generally is a decent bet.
This week's beagle is lying in a bed of its own making.
NGL Energy Partners LP slipped 5.4 percent last week, closing Friday at $29.45.
The Tulsa propane and natural gas liquids partnership announced late Monday that it had commenced a public offering of 9 million of its common units. The unit price, which closed Monday at $31.41, opened Tuesday at $30.
At the end of Tuesday's trading NGL set the price of those offered units at $29.
NGL, no doubt, will put the proceeds from the public offering to good use, paying down debt and funding capital expenditures and even perhaps acquisitions.
But long-term holders took a bit of a hit.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.