Citigroup Issues Positive Forecast for Cheniere Energy Partners (NYSE:CQP) Stock Price

Cheniere Energy Partners (NYSE:CQP) had its price target increased by investment analysts at Citigroup from $49.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price objective indicates a potential downside of 14.58% from the company’s current price.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company dropped 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. Barclays raised their target price on shares of Cheniere Energy Partners from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. upped their price target on shares of Cheniere Energy Partners from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. Bank of America increased their price target on shares of Cheniere Energy Partners from $51.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, March 20th. Finally, Royal Bank Of Canada lifted their price target on shares of Cheniere Energy Partners from $58.00 to $62.00 and gave the company a “sector perform” rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $60.43.

Cheniere Energy Partners Trading Down 0.1%

Shares of CQP stock traded down $0.03 during mid-day trading on Thursday, hitting $64.39. 52,802 shares of the company’s stock were exchanged, compared to its average volume of 117,649. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 12.45 and a beta of 0.40. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 34.21. Cheniere Energy Partners has a fifty-two week low of $49.53 and a fifty-two week high of $70.64. The stock has a 50-day simple moving average of $61.21 and a two-hundred day simple moving average of $56.13.

Cheniere Energy Partners (NYSE:CQP) last released its earnings results on Wednesday, February 25th. The company reported $2.38 EPS for the quarter, beating 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 firm had revenue of $2.91 billion during the quarter. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts expect that Cheniere Energy Partners will post 4.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its holdings in Cheniere Energy Partners by 3.7% in the 4th quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock valued at $499,447,000 after purchasing an additional 336,946 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Cheniere Energy Partners by 37.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company’s stock valued at $58,446,000 after purchasing an additional 298,566 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cheniere Energy Partners by 52,982.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 252,673 shares of the company’s stock worth $13,513,000 after purchasing an additional 252,197 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Cheniere Energy Partners in the third quarter worth about $7,357,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Cheniere Energy Partners in the third quarter worth about $7,304,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.