Cheniere Energy Partners (CQP) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Cheniere Energy Partners (NYSEAMERICAN:CQP) from a strong sell rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “CHENIERE ENERGY PARTNERS, L.P. is a Delaware limited partnership recently formed by Cheniere Energy, Inc. through its wholly owned subsidiary, Sabine Pass LNG, L.P. CEP will develop, own and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel. CEP’s primary business objectives are to complete construction of the Sabine Pass LNG receiving terminal and, thereafter, to generate stable cash flows sufficient to pay the initial quarterly distribution to the unitholders and, over time, to increase their quarterly cash distribution. “
A number of other brokerages have also commented on CQP. Stifel Nicolaus initiated coverage on shares of Cheniere Energy Partners in a report on Thursday, January 4th. They set a hold rating and a $30.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Cheniere Energy Partners in a report on Monday, September 25th. They set an outperform rating and a $32.00 price objective on the stock. Royal Bank of Canada decreased their price objective on shares of Cheniere Energy Partners from $35.00 to $32.00 and set an outperform rating on the stock in a report on Monday, October 16th. Finally, BidaskClub raised shares of Cheniere Energy Partners from a strong sell rating to a sell rating in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $33.63.
Cheniere Energy Partners (NYSEAMERICAN CQP) traded up $0.32 on Monday, hitting $30.26. 271,100 shares of the stock traded hands, compared to its average volume of 153,900. Cheniere Energy Partners has a fifty-two week low of $26.41 and a fifty-two week high of $33.47. The company has a market cap of $14,370.00, a price-to-earnings ratio of 52.17 and a beta of 0.97.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last posted its earnings results on Tuesday, November 14th. The energy company reported ($1.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($1.56). Cheniere Energy Partners had a return on equity of 19.48% and a net margin of 2.55%. The firm had revenue of $903.00 million during the quarter, compared to the consensus estimate of $1.14 billion.
In other Cheniere Energy Partners news, major shareholder Group L.P. Blackstone bought 459,823 shares of the business’s stock in a transaction on Friday, December 29th. The shares were bought at an average cost of $29.56 per share, for a total transaction of $13,592,367.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Gso Holdings I. Llc bought 228,535 shares of the business’s stock in a transaction on Friday, December 28th. The shares were acquired at an average price of $29.63 per share, for a total transaction of $6,771,492.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 838,701 shares of company stock worth $24,581,185.
A number of institutional investors have recently added to or reduced their stakes in CQP. Blackstone Group L.P. lifted its position in Cheniere Energy Partners by 5,731.3% during the 3rd quarter. Blackstone Group L.P. now owns 202,450,687 shares of the energy company’s stock valued at $5,834,629,000 after purchasing an additional 198,978,886 shares during the period. Allianz Asset Management GmbH acquired a new position in Cheniere Energy Partners during the 3rd quarter valued at about $331,000. First Allied Advisory Services Inc. lifted its position in Cheniere Energy Partners by 45.0% during the 3rd quarter. First Allied Advisory Services Inc. now owns 26,309 shares of the energy company’s stock valued at $759,000 after purchasing an additional 8,160 shares during the period. California Public Employees Retirement System lifted its position in Cheniere Energy Partners by 18.1% during the 3rd quarter. California Public Employees Retirement System now owns 38,734 shares of the energy company’s stock valued at $1,116,000 after purchasing an additional 5,934 shares during the period. Finally, Jane Street Group LLC lifted its position in Cheniere Energy Partners by 7.7% during the 3rd quarter. Jane Street Group LLC now owns 55,075 shares of the energy company’s stock valued at $1,587,000 after purchasing an additional 3,953 shares during the period.
Cheniere Energy Partners Company Profile
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.
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