Step 1: State the device.
For an astronomical refracting telescope in normal adjustment, the magnifying power is $m = \dfrac{f_o}{f_e}$, the ratio of objective to eyepiece focal length.
Step 2: Note what changes.
Only the eyepiece focal length is doubled; the objective focal length $f_o$ stays the same.
Step 3: Write the new eyepiece focal length.
$f_e' = 2f_e$.
Step 4: Write the new magnification.
$m' = \dfrac{f_o}{f_e'} = \dfrac{f_o}{2f_e}$.
Step 5: Express in terms of $m$.
$m' = \dfrac{1}{2}\cdot\dfrac{f_o}{f_e} = \dfrac{m}{2}$.
Step 6: Conclude.
Doubling the eyepiece focal length halves the magnifying power, so the answer is option (3).
\[ \boxed{m' = \frac{m}{2}} \]