Cheniere Energy Partners (NYSE:CQP) Stock Crosses Below 200 Day Moving Average – Here’s Why

Shares of Cheniere Energy Partners, L.P. (NYSE:CQP) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $63.38 and traded as low as $62.66. Cheniere Energy Partners shares last traded at $63.16, with a volume of 102,411 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Cheniere Energy Partners from $64.00 to $65.00 and gave the stock an “underweight” rating in a research report on Friday, September 4th. Barclays raised their price target on Cheniere Energy Partners from $63.00 to $66.00 and gave the company an “underweight” rating in a research report on Friday, August 7th. Wells Fargo & Company dropped their price target on Cheniere Energy Partners from $62.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, October 30th. Weiss Ratings cut Cheniere Energy Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Finally, Royal Bank Of Canada increased their price objective on Cheniere Energy Partners from $62.00 to $65.00 and gave the company a “sector perform” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $62.25.

Cheniere Energy Partners Stock Down 2.1%

The company has a debt-to-equity ratio of 16.25, a current ratio of 1.19 and a quick ratio of 1.07. The stock has a market capitalization of $30.57 billion, a PE ratio of 11.04 and a beta of 0.30. The company has a 50 day moving average price of $65.41 and a 200-day moving average price of $63.38.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.98 by $0.03. The business had revenue of $2.57 billion during the quarter. Cheniere Energy Partners had a net margin of 28.05% and a return on equity of 497.69%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. As a group, analysts forecast that Cheniere Energy Partners, L.P. will post 4.49 earnings per share for the current fiscal year.

Cheniere Energy Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.1150 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.7%. This is a decrease from Cheniere Energy Partners’s previous quarterly dividend of $0.7750. Cheniere Energy Partners’s dividend payout ratio (DPR) is 54.20%.

Hedge Funds Weigh In On Cheniere Energy Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CQP. Strategic Wealth Partners Ltd. purchased a new position in Cheniere Energy Partners in the second quarter worth about $60,000. IFP Advisors Inc increased its position in shares of Cheniere Energy Partners by 146.5% during the 3rd quarter. IFP Advisors Inc now owns 1,198 shares of the company’s stock valued at $73,000 after purchasing an additional 712 shares during the last quarter. Compass Financial Management LLC bought a new position in shares of Cheniere Energy Partners in the 2nd quarter worth approximately $79,000. CX Institutional bought a new position in shares of Cheniere Energy Partners in the 2nd quarter worth approximately $86,000. Finally, Assetmark Inc. purchased a new position in shares of Cheniere Energy Partners in the first quarter worth approximately $102,000. 46.55% of the stock is owned by institutional investors.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P. (NYSE:CQP) is a publicly traded master limited partnership focused on the development, ownership and operation of liquefied natural gas (LNG) infrastructure. The partnership is sponsored by Cheniere Energy, Inc, a leading U.S. LNG company, through its ownership of Cheniere Energy Partners GP, LLC.

CQP’s principal assets include the Sabine Pass LNG facility in Cameron Parish, Louisiana, and interests associated with the Corpus Christi LNG facility in Texas.