Cheniere Energy Partners (NYSE:CQP) Stock Price Down 4% – Here’s Why

Cheniere Energy Partners, L.P. (NYSE:CQP)’s share price traded down 4% during trading on Wednesday . The company traded as low as $67.39 and last traded at $67.3610. 76,007 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 106,507 shares. The stock had previously closed at $70.14.

Wall Street Analyst Weigh In

CQP has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price objective on Cheniere Energy Partners from $58.00 to $62.00 and gave the company a “sector perform” rating in a research note on Friday, March 6th. Citigroup lowered their price target on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a report on Monday, January 12th. Weiss Ratings raised shares of Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price objective on shares of Cheniere Energy Partners from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Wells Fargo & Company lowered 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. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $59.57.

Cheniere Energy Partners Trading Down 6.0%

The company has a debt-to-equity ratio of 34.21, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market capitalization of $31.56 billion, a P/E ratio of 12.61 and a beta of 0.40. The stock has a 50-day moving average price of $60.51 and a two-hundred day moving average price of $55.77.

Cheniere Energy Partners (NYSE:CQP) last announced its earnings results on Wednesday, February 25th. The company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.91 billion during the quarter. During the same quarter in the prior year, the company earned $1.05 EPS. Cheniere Energy Partners’s revenue was up 18.3% compared to the same quarter last year. On average, research analysts forecast that Cheniere Energy Partners, L.P. will post 4.14 EPS for the current fiscal year.

Cheniere Energy Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were issued a $0.775 dividend. The ex-dividend date was Monday, February 9th. This represents a $3.10 annualized dividend and a yield of 4.8%. Cheniere Energy Partners’s dividend payout ratio is 59.96%.

Institutional Investors Weigh In On Cheniere Energy Partners

A number of large investors have recently modified their holdings of CQP. Rockefeller Capital Management L.P. increased its position in shares of Cheniere Energy Partners by 30.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 22,552 shares of the company’s stock valued at $1,206,000 after buying an additional 5,270 shares during the period. World Investment Advisors purchased a new stake in Cheniere Energy Partners in the fourth quarter worth about $223,000. Virtu Financial LLC boosted its position in Cheniere Energy Partners by 16.4% during the 4th quarter. Virtu Financial LLC now owns 8,955 shares of the company’s stock valued at $479,000 after acquiring an additional 1,260 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in shares of Cheniere Energy Partners during the 4th quarter worth approximately $214,000. Finally, Asset One Wealth Management LLC purchased a new position in shares of Cheniere Energy Partners during the 4th quarter worth approximately $564,000. 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.