Cheniere Energy Partners, L.P. (NYSE:CQP – Get Free Report) shares shot up 3.5% during mid-day trading on Thursday after Barclays raised their price target on the stock from $45.00 to $46.00. Barclays currently has an underweight rating on the stock. Cheniere Energy Partners traded as high as $53.94 and last traded at $53.83. 71,049 shares changed hands during trading, a decline of 60% from the average session volume of 176,470 shares. The stock had previously closed at $52.03.
Several other brokerages have also commented on CQP. UBS Group dropped their price target on shares of Cheniere Energy Partners from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Sanford C. Bernstein assumed coverage on Cheniere Energy Partners in a research report on Monday, June 24th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.25.
Read Our Latest Stock Report on CQP
Institutional Investors Weigh In On Cheniere Energy Partners
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CQP. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cheniere Energy Partners by 15.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,677 shares of the company’s stock valued at $110,119,000 after acquiring an additional 298,335 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cheniere Energy Partners by 37.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 615,067 shares of the company’s stock valued at $30,624,000 after purchasing an additional 167,567 shares during the last quarter. Empowered Funds LLC bought a new stake in Cheniere Energy Partners during the first quarter worth approximately $1,435,000. Requisite Capital Management LLC acquired a new position in Cheniere Energy Partners in the fourth quarter worth approximately $3,419,000. Finally, Custom Index Systems LLC bought a new position in shares of Cheniere Energy Partners in the fourth quarter valued at $1,429,000. Institutional investors own 46.55% of the company’s stock.
Cheniere Energy Partners Stock Performance
The company has a market cap of $25.76 billion, a P/E ratio of 11.49 and a beta of 0.69. The firm’s 50-day simple moving average is $49.01.
Cheniere Energy Partners (NYSE:CQP – Get Free Report) last announced its earnings results on Friday, May 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Cheniere Energy Partners had a negative return on equity of 275.07% and a net margin of 33.19%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. Cheniere Energy Partners’s revenue for the quarter was down 21.3% compared to the same quarter last year. Research analysts forecast that Cheniere Energy Partners, L.P. will post 4.64 EPS for the current year.
Cheniere Energy Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Wednesday, May 8th. Cheniere Energy Partners’s dividend payout ratio is presently 66.95%.
About Cheniere Energy Partners
Cheniere Energy Partners, L.P., through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies worldwide. The company owns and operates natural gas liquefaction and export facility at the Sabine Pass LNG Terminal located in Cameron Parish, Louisiana.
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