Enbridge Energy (EEP) 11/3/09 PriceWatch Alert With $44.00 Break Even
Posted: Tuesday, November 03, 2009 8:33 AM EDT
By: Market Intelligence Center Staff
Enbridge Energy (NYSE: EEP) closed yesterday at $46.30. So far the stock has hit a 52-week low of $22.33 and 52-week high of $49.00. Enbridge Energy stock has been showing support around 45.49 and resistance in the 47.55 range. Technical indicators for the stock are Neutral and S&P gives EEP a neutral 3 STAR (out of 5) hold rating. EEP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 45 covered call (EEP DI) for a net debit in the $44.00 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 4.97% downside protection and a 2.27% assigned return rate for a 5.03% annualized return rate (comparison purposes only). Enbridge Energy has a current annual dividend yield of 8.54%. [ATU-Seven Summits Research]
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