Bank of America Lowers Cheniere Energy Partners (NYSE:CQP) Price Target to $51.00

Cheniere Energy Partners (NYSE:CQP) had its price target reduced by Bank of America from $53.00 to $51.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price target suggests a potential downside of 3.61% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Barclays decreased their target price on Cheniere Energy Partners from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, August 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Cheniere Energy Partners in a report on Monday. One equities research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus price target of $54.20.

Cheniere Energy Partners Trading Down 1.9%

Shares of Cheniere Energy Partners stock opened at $52.91 on Thursday. Cheniere Energy Partners has a 1 year low of $49.53 and a 1 year high of $68.42. The company’s fifty day simple moving average is $52.99 and its 200-day simple moving average is $54.39. The company has a market cap of $25.61 billion, a price-to-earnings ratio of 13.78 and a beta of 0.37.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.21). Cheniere Energy Partners had a net margin of 22.54% and a negative return on equity of 591.00%. The company had revenue of $2.40 billion during the quarter. During the same period in the previous year, the business posted $1.08 earnings per share. Cheniere Energy Partners’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CQP. Ameritas Advisory Services LLC acquired a new stake in shares of Cheniere Energy Partners in the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Cheniere Energy Partners by 180.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock worth $27,000 after purchasing an additional 306 shares in the last quarter. Larson Financial Group LLC boosted its position in Cheniere Energy Partners by 68.3% in the third quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock valued at $27,000 after buying an additional 205 shares in the last quarter. Gables Capital Management Inc. acquired a new position in Cheniere Energy Partners in the second quarter valued at about $34,000. Finally, Parkside Financial Bank & Trust grew its stake in Cheniere Energy Partners by 25.5% during the second quarter. Parkside Financial Bank & Trust now owns 924 shares of the company’s stock worth $52,000 after buying an additional 188 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

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.