Cheniere Energy Partners (NYSE:CQP) Hits New 12-Month High After Analyst Upgrade

Cheniere Energy Partners, L.P. (NYSE:CQP)’s stock price hit a new 52-week high on Friday after Bank of America raised their price target on the stock from $51.00 to $57.00. Bank of America currently has an underperform rating on the stock. Cheniere Energy Partners traded as high as $68.99 and last traded at $68.6420, with a volume of 80227 shares. The stock had previously closed at $66.73.

Several other analysts have also commented on the stock. Zacks Research raised shares of Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Morgan Stanley decreased their price target on shares of Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. Royal Bank Of Canada lifted their price target on shares of Cheniere Energy Partners from $58.00 to $62.00 and gave the stock a “sector perform” rating in a report on Friday, March 6th. Citigroup dropped their price objective on Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating on the stock in a research note on Monday, January 12th. Finally, Wells Fargo & Company reduced their price objective on Cheniere Energy Partners from $56.00 to $54.00 and set an “underweight” rating for the company in a report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $56.43.

Institutional Investors Weigh In On Cheniere Energy Partners

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Cheniere Energy Partners by 180.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock valued at $27,000 after purchasing an additional 306 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Cheniere Energy Partners by 68.3% during the 3rd quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares in the last quarter. Caldwell Trust Co bought a new position in Cheniere Energy Partners in the 4th quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Cheniere Energy Partners in the 4th quarter worth about $51,000. Finally, MAI Capital Management grew its holdings in Cheniere Energy Partners by 1,339.3% during the 2nd quarter. MAI Capital Management now owns 1,612 shares of the company’s stock valued at $90,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Stock Performance

The company has a 50-day moving average price of $59.41 and a two-hundred day moving average price of $55.36. The stock has a market capitalization of $32.74 billion, a P/E ratio of 13.08 and a beta of 0.40. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 34.21.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings data on Wednesday, February 25th. The company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $1.27. The company 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%. Cheniere Energy Partners’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share. Equities analysts expect that Cheniere Energy Partners, L.P. will post 4.14 earnings per share for the current year.

Cheniere Energy Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were issued a $0.775 dividend. This represents a $3.10 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, February 9th. Cheniere Energy Partners’s dividend payout ratio (DPR) is presently 59.96%.

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.