Energy Transfer Partners LP (ETP) 11/25/09 PriceWatch Alert With Support Around $42.77

Posted: Wednesday, November 25, 2009 8:33 AM EDT

Energy Transfer Partners LP (NYSE: ETP) closed yesterday at $43.66. So far the stock has hit a 52-week low of $28.07 and 52-week high of $47.44. Energy Transfer Partners LP stock has been showing support around 42.77 and resistance in the 44.11 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 $42.66 area. That is also the break even stock price for this trade. This covered call has an 115 day duration, provides 2.29% downside protection and a 5.49% assigned return rate for a 17.41% annualized return rate (comparison purposes only). Energy Transfer Partners LP has a current annual dividend yield of 8.24%. [WBA-Seven Summits Research]

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