JPMorgan Chase & Co. Issues Positive Forecast for Cheniere Energy Partners (NYSE:CQP) Stock Price

Cheniere Energy Partners (NYSE:CQP) had its price target lifted by analysts at JPMorgan Chase & Co. from $57.00 to $63.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 10.00% from the stock’s previous close.

A number of other research firms have also recently weighed in on CQP. Weiss Ratings upgraded shares of Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Bank of America lifted their target price on shares of Cheniere Energy Partners from $51.00 to $57.00 and gave the company an “underperform” rating in a research report on Friday, March 20th. Wells Fargo & Company cut their target price 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. Morgan Stanley upped their price target on shares of Cheniere Energy Partners from $55.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Zacks Research raised shares of Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $59.57.

Cheniere Energy Partners Stock Up 0.9%

Shares of CQP opened at $70.00 on Friday. The firm has a market cap of $33.88 billion, a P/E ratio of 13.54 and a beta of 0.40. Cheniere Energy Partners has a 12 month low of $49.53 and a 12 month high of $70.64. The stock’s 50 day moving average is $60.51 and its two-hundred day moving average is $55.77. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 34.21.

Cheniere Energy Partners (NYSE:CQP) last announced its earnings results on Wednesday, February 25th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $1.27. Cheniere Energy Partners had a negative return on equity of 1,446.48% and a net margin of 27.76%.The business had revenue of $2.91 billion during the quarter. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cheniere Energy Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in CQP. Larson Financial Group LLC grew its holdings in shares of Cheniere Energy Partners by 68.3% during the third quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock worth $27,000 after buying an additional 205 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cheniere Energy Partners by 180.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock worth $27,000 after buying an additional 306 shares in the last quarter. Caldwell Trust Co acquired a new position in Cheniere Energy Partners during the fourth quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Cheniere Energy Partners during the fourth quarter worth about $51,000. Finally, MAI Capital Management grew its stake in Cheniere Energy Partners by 1,339.3% during the 2nd quarter. MAI Capital Management now owns 1,612 shares of the company’s stock valued at $90,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

Cheniere Energy Partners Company Profile

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.