Cheniere Energy Partners (NYSE:CQP) Announces Quarterly Earnings Results, Misses Expectations By $1.03 EPS

Cheniere Energy Partners (NYSE:CQP) released its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($1.03), FiscalAI reports. 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 $3.60 billion during the quarter. During the same quarter in the previous year, the business posted $1.08 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis.

Cheniere Energy Partners Price Performance

Shares of CQP stock traded down $0.99 during trading hours on Thursday, reaching $63.01. 187,059 shares of the company were exchanged, compared to its average volume of 89,130. Cheniere Energy Partners has a fifty-two week low of $49.53 and a fifty-two week high of $70.64. The stock’s fifty day moving average is $64.00 and its two-hundred day moving average is $57.96. The company has a market cap of $30.50 billion, a price-to-earnings ratio of 12.19 and a beta of 0.36. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be paid a $0.775 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.9%. Cheniere Energy Partners’s payout ratio is currently 59.96%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Cheniere Energy Partners by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock worth $499,447,000 after buying an additional 336,946 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cheniere Energy Partners by 2.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,784,925 shares of the company’s stock valued at $149,885,000 after buying an additional 68,599 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in shares of Cheniere Energy Partners by 37.6% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company’s stock valued at $58,446,000 after buying an additional 298,566 shares in the last quarter. Energy Income Partners LLC raised its stake in Cheniere Energy Partners by 3.0% during the 3rd quarter. Energy Income Partners LLC now owns 1,046,437 shares of the company’s stock worth $56,319,000 after buying an additional 30,172 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Cheniere Energy Partners by 24.1% during the 4th quarter. Clearbridge Investments LLC now owns 611,873 shares of the company’s stock worth $32,723,000 after buying an additional 118,782 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CQP. Royal Bank Of Canada boosted their price objective on Cheniere Energy Partners from $58.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Friday, March 6th. Bank of America raised their price target on Cheniere Energy Partners from $51.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, March 20th. JPMorgan Chase & Co. increased their price target on Cheniere Energy Partners from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Friday, March 27th. Citigroup lifted their target price on Cheniere Energy Partners from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company cut their target price on 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 research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Cheniere Energy Partners presently has a consensus rating of “Reduce” and a consensus price target of $60.43.

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.