Zacks: Cheniere Energy Partners LP (CQP) Given $34.83 Average Target Price by Brokerages
Cheniere Energy Partners LP (NYSE:CQP) has earned a consensus broker rating score of 1.81 (Buy) from the eight analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and four have given a strong buy recommendation to the company. Cheniere Energy Partners’ rating score has declined by 10.4% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus price objective of $34.83 for the company and are forecasting that the company will post $0.37 EPS for the current quarter, according to Zacks. Zacks has also given Cheniere Energy Partners an industry rank of 151 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Cheniere Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 12th. Barclays PLC reaffirmed an “overweight” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Cheniere Energy Partners in a report on Wednesday. Guggenheim assumed coverage on Cheniere Energy Partners in a report on Monday. They issued a “neutral” rating and a $36.00 price objective on the stock. Finally, TheStreet raised Cheniere Energy Partners from a “c” rating to a “b-” rating in a report on Monday, March 20th.
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In other Cheniere Energy Partners news, CFO Michael J. Wortley sold 5,000 shares of Cheniere Energy Partners stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $32.11, for a total value of $160,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Large investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of Cheniere Energy Partners during the third quarter worth $9,125,000. Blackstone Group L.P. raised its stake in shares of Cheniere Energy Partners by 8.9% in the third quarter. Blackstone Group L.P. now owns 3,837,178 shares of the company’s stock worth $112,276,000 after buying an additional 314,262 shares in the last quarter. Virtus ETF Advisers LLC raised its stake in shares of Cheniere Energy Partners by 50.5% in the third quarter. Virtus ETF Advisers LLC now owns 17,587 shares of the company’s stock worth $515,000 after buying an additional 5,902 shares in the last quarter. Eagle Global Advisors LLC raised its stake in shares of Cheniere Energy Partners by 6.4% in the third quarter. Eagle Global Advisors LLC now owns 1,434,686 shares of the company’s stock worth $41,979,000 after buying an additional 86,360 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Cheniere Energy Partners by 15.6% in the third quarter. Morgan Stanley now owns 2,046,751 shares of the company’s stock valued at $59,888,000 after buying an additional 276,662 shares during the period.
Shares of Cheniere Energy Partners (NYSE:CQP) opened at 31.95 on Thursday. Cheniere Energy Partners has a 1-year low of $25.87 and a 1-year high of $33.47. The stock’s market cap is $10.79 billion. The firm’s 50-day moving average price is $31.89 and its 200 day moving average price is $29.82.
About Cheniere Energy Partners
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.
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