NuStar Energy LP (NS) 10/7/09 PriceWatch Alert Shows Bearish Technicals
Posted: Wednesday, October 07, 2009 8:04 AM EDT
By: Market Intelligence Center Staff
NuStar Energy LP (NYSE: NS) closed yesterday at $52.33. So far the stock has hit a 52-week low of $27.00 and 52-week high of $57.68. NuStar Energy stock has been showing support around 51.58 and resistance in the 52.98 range. Technical indicators for the stock are Bearish and S&P gives NS a positive 4 STAR (out of 5) buy rating. NS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 50 covered call (NS CJ) for a net debit in the $48.93 area. That is also the break even stock price for this trade. This covered call has a 164 day duration, provides 6.50% downside protection and a 2.19% assigned return rate for a 4.87% annualized return rate (comparison purposes only). NuStar Energy has a current annual dividend yield of 8.36%. [WBA-Seven Summits Research]
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