Brokerages Set Cheniere Energy Partners, L.P. (NYSE:CQP) Price Target at $60.43

Cheniere Energy Partners, L.P. (NYSE:CQP) has been assigned an average rating of “Reduce” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $60.4286.

A number of research analysts have recently weighed in on CQP shares. Morgan Stanley increased their target price on shares of 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. Zacks Research raised shares of Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. 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. 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. Finally, Bank of America increased their price target on Cheniere Energy Partners from $51.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, March 20th.

Hedge Funds Weigh In On Cheniere Energy Partners

Several large investors have recently modified their holdings of CQP. NewEdge Advisors LLC increased its stake in shares of Cheniere Energy Partners by 3.2% in the first quarter. NewEdge Advisors LLC now owns 9,717 shares of the company’s stock worth $642,000 after purchasing an additional 300 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Cheniere Energy Partners by 1,863.4% during the 1st quarter. Jones Financial Companies Lllp now owns 7,029 shares of the company’s stock valued at $464,000 after buying an additional 6,671 shares in the last quarter. Creative Planning boosted its holdings in Cheniere Energy Partners by 18.4% in the 2nd quarter. Creative Planning now owns 5,326 shares of the company’s stock worth $299,000 after buying an additional 826 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Cheniere Energy Partners by 180.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock worth $27,000 after buying an additional 306 shares during the period. Finally, Bank of America Corp DE grew its stake in Cheniere Energy Partners by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 319,717 shares of the company’s stock valued at $17,920,000 after buying an additional 3,659 shares in the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Trading Up 2.1%

Shares of Cheniere Energy Partners stock opened at $63.66 on Tuesday. Cheniere Energy Partners has a 1 year low of $49.53 and a 1 year high of $70.64. The firm has a market cap of $30.81 billion, a PE ratio of 12.31 and a beta of 0.37. The stock has a fifty day moving average price of $63.18 and a 200-day moving average price of $57.20. The company has a debt-to-equity ratio of 34.21, a current ratio of 0.78 and a quick ratio of 0.68.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $1.27. The company had revenue of $2.91 billion for 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 quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Equities research analysts anticipate that Cheniere Energy Partners will post 4.13 EPS for the current year.

Cheniere Energy Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were issued a dividend of $0.775 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $3.10 annualized dividend and a yield of 4.9%. Cheniere Energy Partners’s dividend payout ratio is 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.