Cheniere Energy Partners (NYSE:CQP) Stock Price Up 1.1% – Here’s What Happened

Shares of Cheniere Energy Partners, L.P. (NYSE:CQP) were up 1.1% during trading on Wednesday . The company traded as high as $53.60 and last traded at $53.3460. Approximately 85,720 shares were traded during trading, a decline of 18% from the average daily volume of 105,100 shares. The stock had previously closed at $52.76.

Analyst Upgrades and Downgrades

CQP has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cheniere Energy Partners in a report on Monday, December 29th. Bank of America lowered their target price on Cheniere Energy Partners from $53.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average target price of $54.20.

Cheniere Energy Partners Stock Performance

The firm has a fifty day simple moving average of $53.35 and a 200 day simple moving average of $53.84. The company has a market cap of $25.82 billion, a PE ratio of 13.89 and a beta of 0.40.

Cheniere Energy Partners (NYSE:CQP) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.21). The firm had revenue of $2.40 billion for the quarter. Cheniere Energy Partners had a negative return on equity of 591.00% and a net margin of 22.54%.Cheniere Energy Partners’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. As a group, equities analysts predict that Cheniere Energy Partners, L.P. will post 4.14 EPS for the current fiscal year.

Cheniere Energy Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 5.8%. Cheniere Energy Partners’s dividend payout ratio (DPR) is presently 80.73%.

Institutional Trading of Cheniere Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in Cheniere Energy Partners by 3.2% during the first quarter. NewEdge Advisors LLC now owns 9,717 shares of the company’s stock worth $642,000 after acquiring an additional 300 shares during the period. Jones Financial Companies Lllp increased its position in Cheniere Energy Partners by 1,863.4% in the first quarter. Jones Financial Companies Lllp now owns 7,029 shares of the company’s stock worth $464,000 after buying an additional 6,671 shares during the period. Empowered Funds LLC grew its position in shares of Cheniere Energy Partners by 139.0% during the first quarter. Empowered Funds LLC now owns 82,511 shares of the company’s stock worth $5,449,000 after acquiring an additional 47,985 shares during the last quarter. Militia Capital Partners LP acquired a new stake in shares of Cheniere Energy Partners in the 1st quarter worth about $594,000. Finally, Chickasaw Capital Management LLC bought a new stake in Cheniere Energy Partners in the 2nd quarter valued at about $835,000. 46.55% of the stock is owned by institutional investors.

About Cheniere Energy Partners

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.