Bank of America Increases Cheniere Energy Partners (NYSE:CQP) Price Target to $57.00

Cheniere Energy Partners (NYSE:CQP) had its price target hoisted by Bank of America from $51.00 to $57.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential downside of 15.74% from the stock’s previous close.

CQP has been the subject of a number of other research reports. Weiss Ratings raised Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Wells Fargo & Company reduced their price target on Cheniere Energy Partners from $56.00 to $54.00 and set an “underweight” rating on the stock in a report on Friday, March 13th. Royal Bank Of Canada upped 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. Morgan Stanley dropped their price objective on shares of Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Finally, Zacks Research upgraded shares of Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $56.43.

Cheniere Energy Partners Stock Performance

NYSE CQP opened at $67.65 on Friday. The firm’s fifty day moving average price is $59.41 and its two-hundred day moving average price is $55.37. The stock has a market cap of $32.74 billion, a PE ratio of 13.08 and a beta of 0.40. The company has a debt-to-equity ratio of 34.21, a quick ratio of 0.68 and a current ratio of 0.78. Cheniere Energy Partners has a fifty-two week low of $49.53 and a fifty-two week high of $69.49.

Cheniere Energy Partners (NYSE:CQP) last announced 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. 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 previous year, the company posted $1.05 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. On average, equities analysts expect that Cheniere Energy Partners will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Cheniere Energy Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in Cheniere Energy Partners by 3.7% during the 4th quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock valued at $499,447,000 after purchasing an additional 336,946 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings in Cheniere Energy Partners by 37.6% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company’s stock worth $58,446,000 after purchasing an additional 298,566 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cheniere Energy Partners by 52,982.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 252,673 shares of the company’s stock worth $13,513,000 after purchasing an additional 252,197 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Cheniere Energy Partners in the 3rd quarter worth approximately $7,357,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Cheniere Energy Partners in the 3rd quarter valued at $7,304,000. 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.