Royal Bank Of Canada Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Cheniere Energy Partners (NYSE:CQP) had its price objective increased by equities researchers at Royal Bank Of Canada from $58.00 to $62.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential downside of 1.59% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Bank of America dropped their price objective on 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. Barclays raised their price target on Cheniere Energy Partners from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Friday, February 27th. Zacks Research downgraded Cheniere Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Weiss Ratings raised Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Finally, Citigroup decreased their price objective on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating on the stock in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Cheniere Energy Partners currently has an average rating of “Strong Sell” and an average price target of $55.86.

Cheniere Energy Partners Stock Down 1.7%

CQP stock opened at $63.00 on Friday. Cheniere Energy Partners has a fifty-two week low of $49.53 and a fifty-two week high of $68.42. The company has a debt-to-equity ratio of 34.21, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market capitalization of $30.50 billion, a price-to-earnings ratio of 12.19 and a beta of 0.40. The business’s fifty day moving average price is $57.28 and its two-hundred day moving average price is $54.69.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly 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. The firm had revenue of $2.91 billion during the quarter. Cheniere Energy Partners had a net margin of 27.76% and a negative return on equity of 1,446.48%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. On average, equities analysts anticipate that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in Cheniere Energy Partners by 3.2% in the 1st quarter. NewEdge Advisors LLC now owns 9,717 shares of the company’s stock worth $642,000 after buying an additional 300 shares during the last quarter. Jones Financial Companies Lllp grew its position in Cheniere Energy Partners by 1,863.4% during the first quarter. Jones Financial Companies Lllp now owns 7,029 shares of the company’s stock valued at $464,000 after acquiring an additional 6,671 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Cheniere Energy Partners by 4.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,179 shares of the company’s stock worth $795,000 after acquiring an additional 647 shares in the last quarter. Disciplined Investors L.L.C. lifted its holdings in shares of Cheniere Energy Partners by 174.0% in the 2nd quarter. Disciplined Investors L.L.C. now owns 8,446 shares of the company’s stock worth $473,000 after acquiring an additional 5,364 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Cheniere Energy Partners by 25.5% in the 2nd 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 last quarter. 46.55% of the stock is currently owned by institutional investors.

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.