Energy Transfer Partners LP (ETP) 11/23/09 PriceWatch Alert Shows Bullish Technicals

Posted: Monday, November 23, 2009 8:28 AM EDT

Energy Transfer Partners LP (NYSE: ETP) closed yesterday at $43.39. So far the stock has hit a 52-week low of $26.11 and 52-week high of $47.44. Energy Transfer Partners LP stock has been showing support around 43.02 and resistance in the 43.82 range. Technical indicators for the stock are Bullish and S&P gives ETP a positive 4 STAR (out of 5) buy rating. ETP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 45 covered call (ETP CI) for a net debit in the $42.29 area. That is also the break even stock price for this trade. This covered call has an 117 day duration, provides 2.54% downside protection and a 6.41% assigned return rate for a 19.99% annualized return rate (comparison purposes only). Energy Transfer Partners LP has a current annual dividend yield of 8.13%. [ABR-Seven Summits Research]

Click Symbol For More News On: (ETP)