FPL Group (FPL) Has 3.8% Dividend and S&P 5 Star Strong Buy Rating

FPL Group (NYSE: FPL) closed yesterday at $49.87. So far the stock has hit a 52-week low of $41.48 and 52-week high of $60.61. FPL Group stock has been showing support around 48.69 and resistance in the 51.27 range. Technical indicators for the stock are Bearish and S&P gives FPL a very positive 5 STAR (out of 5) strong buy rating. FPL appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jun '10 45 covered call (FPL FI) for a net debit in the $43.67 area. That is also the break even stock price for this trade. This covered call has a 226 day duration, provides 12.43% downside protection and a 3.05% assigned return rate for a 4.92% annualized return rate (comparison purposes only). FPL Group has a current annual dividend yield of 3.85%.

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