Cheniere Energy Partners L P Now Covered by Credit Suisse (CQP)
Analysts at Credit Suisse assumed coverage on shares of Cheniere Energy Partners L P (NYSE:CQP) in a research report issued to clients and investors on Wednesday, AnalystRatings.NET reports. The firm set a “hold” rating and a $36.00 price target on the stock. Credit Suisse’s price objective would indicate a potential upside of 7.40% from the stock’s previous close.
The analysts wrote, “At its analyst day last week LNG announced plans to increase short/medium term contracts as percentage of its overall portfolio to further capture arbitrage opportunities between Henry Hub and Asian gas prices. We expect incremental upside as result of the higher cash flow from shorter duration contracts. LNG also clarified its targeted financing structure for the Corpus Christi Plant (CCL) and stated that minimal equity issuance would be required to fund the project. Accordingly, we are raising the target price of our Buy rated LNG from $67 to $74. We are also raising the target price of our Hold rated CQP from $30 to $36.”
Cheniere Energy Partners L P (NYSE:CQP) traded up 0.92% during mid-day trading on Wednesday, hitting $33.83. The stock had a trading volume of 18,081 shares. Cheniere Energy Partners L P has a one year low of $24.35 and a one year high of $33.55. The stock has a 50-day moving average of $29.97 and a 200-day moving average of $29.10. The company’s market cap is $11.428 billion.
Cheniere Energy Partners L P (NYSE:CQP) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $1.26. On average, analysts predict that Cheniere Energy Partners L P will post $-1.71 earnings per share for the current fiscal year.
Separately, analysts at RBC Capital raised their price target on shares of Cheniere Energy Partners L P from $33.00 to $36.00 in a research note on Monday. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.67.
Cheniere Energy Partners, L.P. (NYSE:CQP) is a limited partnership, through its wholly owned subsidiary, Sabine Pass LNG, L.
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