Cheniere Energy Partners (NYSE:CQP) Hits New 1-Year High Following Analyst Upgrade

Cheniere Energy Partners, L.P. (NYSE:CQP) hit a new 52-week high on Friday after Bank of America raised their price target on the stock from $51.00 to $57.00. Bank of America currently has an underperform rating on the stock. Cheniere Energy Partners traded as high as $68.99 and last traded at $68.6420, with a volume of 80227 shares. The stock had previously closed at $66.73.

A number of other analysts have also commented on CQP. Morgan Stanley decreased their target price on Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Citigroup cut their price target on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a report on Monday, January 12th. Zacks Research raised shares of Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Weiss Ratings upgraded Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Cheniere Energy Partners from $56.00 to $54.00 and set an “underweight” rating for the company in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $56.43.

Hedge Funds Weigh In On Cheniere Energy Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC boosted its stake in Cheniere Energy Partners by 6.7% during the second quarter. Virtus Investment Advisers LLC now owns 3,064 shares of the company’s stock worth $172,000 after acquiring an additional 193 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Cheniere Energy Partners by 68.3% during the 3rd quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock valued at $27,000 after acquiring an additional 205 shares during the period. Disciplined Investors L.L.C. lifted its position in shares of Cheniere Energy Partners by 2.6% in the third quarter. Disciplined Investors L.L.C. now owns 8,669 shares of the company’s stock valued at $467,000 after acquiring an additional 223 shares in the last quarter. Powell Investment Advisors LLC boosted its holdings in shares of Cheniere Energy Partners by 1.5% during the 3rd quarter. Powell Investment Advisors LLC now owns 17,529 shares of the company’s stock valued at $943,000 after purchasing an additional 259 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in Cheniere Energy Partners by 6.8% during the third quarter. Kestra Private Wealth Services LLC now owns 4,333 shares of the company’s stock worth $233,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Stock Performance

The firm has a market capitalization of $33.24 billion, a PE ratio of 13.27 and a beta of 0.40. The business has a 50-day simple moving average of $59.12 and a 200-day simple moving average of $55.28. The company has a debt-to-equity ratio of 34.21, a current ratio of 0.78 and a quick ratio of 0.68.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $1.27. The company had revenue of $2.91 billion for the quarter. Cheniere Energy Partners had a negative return on equity of 1,446.48% and a net margin of 27.76%.Cheniere Energy Partners’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Equities research analysts expect that Cheniere Energy Partners, L.P. will post 4.14 earnings per share for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were paid a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, February 9th. Cheniere Energy Partners’s payout ratio is presently 59.96%.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P. (NYSE: CQP) is a publicly traded master limited partnership that owns and operates liquefied natural gas (LNG) infrastructure in the United States. The partnership’s business centers on the development, ownership and operation of LNG facilities and associated pipeline assets that enable the liquefaction, storage and delivery of natural gas for export and domestic use. CQP’s assets are focused on large-scale midstream energy infrastructure intended to serve global natural gas markets.

The company’s core activities include LNG liquefaction and storage, terminal services, and pipeline transportation.