Cheniere Energy Partners (NYSE:CQP) Price Target Raised to $60.00

Cheniere Energy Partners (NYSE:CQP) had its target price upped by Barclays from $55.00 to $60.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other brokerages also recently commented on CQP. Zacks Research downgraded shares of Cheniere Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Bank of America reduced their price objective on shares of Cheniere Energy Partners from $53.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, December 11th. Citigroup lowered their target price on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a research note 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. Finally, Morgan Stanley reduced their price target on Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $54.83.

Cheniere Energy Partners Stock Performance

Shares of NYSE:CQP opened at $61.07 on Friday. The firm has a 50 day moving average of $56.35 and a 200 day moving average of $54.38. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 34.21. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 11.81 and a beta of 0.40. Cheniere Energy Partners has a 52 week low of $49.53 and a 52 week high of $68.42.

Cheniere Energy Partners (NYSE:CQP) last announced its earnings results on Wednesday, February 25th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $1.27. The business had revenue of $2.91 billion for the quarter. Cheniere Energy Partners had a negative return on equity of 1,446.48% and a net margin of 27.76%.The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS. On average, sell-side analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Cheniere Energy Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $3.10 dividend on an annualized basis and a yield of 5.1%. Cheniere Energy Partners’s dividend payout ratio (DPR) is currently 80.73%.

Institutional Trading of Cheniere Energy Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in Cheniere Energy Partners by 68.3% during the third quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cheniere Energy Partners by 180.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock valued at $27,000 after buying an additional 306 shares during the period. Caldwell Trust Co acquired a new position in shares of Cheniere Energy Partners in the 4th quarter valued at about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Cheniere Energy Partners in the fourth quarter worth about $51,000. Finally, Parkside Financial Bank & Trust grew its holdings in Cheniere Energy Partners by 25.5% during the second quarter. Parkside Financial Bank & Trust now owns 924 shares of the company’s stock worth $52,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Cheniere Energy Partners Company Profile

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.