Cheniere Energy Partners (NYSE:CQP) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Cheniere Energy Partners (NYSE:CQP) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

CQP has been the subject of several other reports. Bank of America reduced 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. Citigroup cut their price target on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating on the stock in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cheniere Energy Partners in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average target price of $53.33.

Cheniere Energy Partners Trading Up 0.2%

NYSE:CQP opened at $57.76 on Thursday. The company has a market capitalization of $27.96 billion, a P/E ratio of 15.04 and a beta of 0.42. The business’s 50-day moving average is $54.89 and its 200 day moving average is $54.03. Cheniere Energy Partners has a 12 month low of $49.53 and a 12 month high of $68.42.

Cheniere Energy Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 9th will be issued a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Monday, February 9th. Cheniere Energy Partners’s dividend payout ratio (DPR) is 80.73%.

Institutional Investors Weigh In On Cheniere Energy Partners

Several hedge funds have recently bought and sold shares of CQP. Americana Partners LLC increased its holdings in shares of Cheniere Energy Partners by 19.2% during the 4th quarter. Americana Partners LLC now owns 12,904 shares of the company’s stock valued at $690,000 after purchasing an additional 2,075 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Cheniere Energy Partners by 139.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,981 shares of the company’s stock worth $106,000 after buying an additional 1,154 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Cheniere Energy Partners by 52,982.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 252,673 shares of the company’s stock worth $13,513,000 after buying an additional 252,197 shares in the last quarter. Birch Capital Management LLC grew its position in Cheniere Energy Partners by 15.1% during the fourth quarter. Birch Capital Management LLC now owns 16,099 shares of the company’s stock valued at $861,000 after buying an additional 2,112 shares during the period. Finally, Hussman Strategic Advisors Inc. increased its holdings in Cheniere Energy Partners by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the company’s stock valued at $2,246,000 after buying an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors 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.