Cheniere Energy Partners, L.P. (NYSE:CQP) Shares Sold by Spire Wealth Management

Spire Wealth Management lessened its stake in Cheniere Energy Partners, L.P. (NYSE:CQP) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,230 shares of the company’s stock after selling 540 shares during the quarter. Spire Wealth Management’s holdings in Cheniere Energy Partners were worth $306,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in Cheniere Energy Partners during the fourth quarter valued at approximately $25,000. Russell Investments Group Ltd. bought a new stake in shares of Cheniere Energy Partners in the 1st quarter valued at approximately $34,000. Lee Financial Co raised its position in shares of Cheniere Energy Partners by 535.9% during the 4th quarter. Lee Financial Co now owns 1,170 shares of the company’s stock valued at $58,000 after acquiring an additional 986 shares in the last quarter. Ridgewood Investments LLC bought a new position in Cheniere Energy Partners during the second quarter worth $62,000. Finally, Global Retirement Partners LLC boosted its holdings in Cheniere Energy Partners by 21.8% in the first quarter. Global Retirement Partners LLC now owns 1,691 shares of the company’s stock worth $84,000 after purchasing an additional 303 shares during the period. Institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Stock Performance

Shares of CQP opened at $48.98 on Tuesday. The firm has a fifty day moving average of $50.18 and a 200-day moving average of $49.39. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 10.58 and a beta of 0.69. Cheniere Energy Partners, L.P. has a 1 year low of $45.51 and a 1 year high of $62.34.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. Cheniere Energy Partners had a net margin of 32.76% and a negative return on equity of 292.75%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $2.04 billion. Analysts predict that Cheniere Energy Partners, L.P. will post 4.26 EPS for the current year.

Cheniere Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.62. This represents a $3.10 annualized dividend and a dividend yield of 6.33%. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CQP shares. Barclays increased their target price on shares of Cheniere Energy Partners from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, July 17th. Sanford C. Bernstein started coverage on shares of Cheniere Energy Partners in a research note on Monday, June 24th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.25.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P., through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies worldwide. The company owns and operates natural gas liquefaction and export facility at the Sabine Pass LNG Terminal located in Cameron Parish, Louisiana.