JPMorgan Chase & Co. Increases Cheniere Energy Partners (NYSE:CQP) Price Target to $63.00

Cheniere Energy Partners (NYSE:CQP) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $57.00 to $63.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.36% from the stock’s previous close.

A number of other research firms also recently weighed in on CQP. Bank of America upped their price target on shares of Cheniere Energy Partners from $51.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, March 20th. Morgan Stanley lifted their price objective on Cheniere Energy Partners from $55.00 to $72.00 and gave the company an “equal weight” rating in a research report on Monday, March 23rd. Royal Bank Of Canada boosted their target price 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. Zacks Research raised Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Citigroup cut their price target on 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. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $59.57.

Cheniere Energy Partners Stock Performance

CQP stock opened at $65.19 on Friday. The firm has a 50 day simple moving average of $60.68 and a 200 day simple moving average of $55.87. Cheniere Energy Partners has a 52 week low of $49.53 and a 52 week high of $70.64. The stock has a market cap of $31.56 billion, a P/E ratio of 12.61 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 (NYSE:CQP) last released its quarterly earnings data on Wednesday, February 25th. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.11 by $1.27. Cheniere Energy Partners had a net margin of 27.76% and a negative return on equity of 1,446.48%. The firm had revenue of $2.91 billion for the quarter. During the same quarter in the prior year, the company posted $1.05 EPS. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. Research analysts anticipate that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cheniere Energy Partners

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new position in Cheniere Energy Partners during the third quarter valued at about $7,357,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Cheniere Energy Partners in the third quarter worth about $1,130,000. Alps Advisors Inc. boosted its stake in shares of Cheniere Energy Partners by 2.3% during the 3rd quarter. Alps Advisors Inc. now owns 9,001,996 shares of the company’s stock worth $484,487,000 after acquiring an additional 206,306 shares in the last quarter. Founders Capital Management boosted its stake in shares of Cheniere Energy Partners by 87.2% during the 3rd quarter. Founders Capital Management now owns 41,737 shares of the company’s stock worth $2,246,000 after acquiring an additional 19,446 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Cheniere Energy Partners during the 3rd quarter valued at about $7,304,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.