Buckeye Partners LP (BPL) 2/9/10 PriceWatch Alert Targets 8.87% Return
Posted: Tuesday, February 09, 2010 8:34 AM EDT
By: Market Intelligence Center Staff
Buckeye Partners LP (NYSE: BPL) closed yesterday at $55.27. So far the stock has hit a 52-week low of $32.00 and 52-week high of $58.32. Buckeye Partners stock has been showing support around 52.43 and resistance in the 57.09 range. Technical indicators for the stock are Bullish and S&P gives BPL a positive 4 STAR (out of 5) buy rating. BPL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a May '10 55 covered call for a net debit in the $53.67 area. That is also the break even stock price for this trade. This covered call has a 102 day duration, provides 2.89% downside protection and a 2.48% assigned return rate for an 8.87% annualized return rate (comparison purposes only). Buckeye Partners has a current annual dividend yield of 6.67%. [ATU-Seven Summits Research]
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