Cheniere Energy Partners (NYSE:CQP) Price Target Raised to $63.00

Cheniere Energy Partners (NYSE:CQP) had its price target hoisted by JPMorgan Chase & Co. from $57.00 to $63.00 in a report published on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Cheniere Energy Partners from $56.00 to $54.00 and set an “underweight” rating on the stock in a research note on Friday, March 13th. Weiss Ratings upgraded shares of Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Bank of America increased their price objective on shares of Cheniere Energy Partners from $51.00 to $57.00 and gave the company an “underperform” rating in a report on Friday, March 20th. Citigroup cut their target price on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a research note on Monday, January 12th. Finally, Morgan Stanley increased their target price on Cheniere Energy Partners from $55.00 to $72.00 and gave the company an “equal weight” rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $59.57.

Cheniere Energy Partners Stock Performance

Shares of CQP stock opened at $65.19 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 34.21. Cheniere Energy Partners has a 12-month low of $49.53 and a 12-month high of $70.64. The business’s 50 day moving average is $60.68 and its two-hundred day moving average is $55.89. The company has a market capitalization of $31.56 billion, a P/E ratio of 12.61 and a beta of 0.40.

Cheniere Energy Partners (NYSE:CQP) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $1.27. The business had revenue of $2.91 billion during the quarter. Cheniere Energy Partners had a negative return on equity of 1,446.48% and a net margin of 27.76%.The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. Analysts expect that Cheniere Energy Partners will post 4.14 EPS for the current fiscal year.

Cheniere Energy Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were given a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, February 9th. Cheniere Energy Partners’s dividend payout ratio is currently 59.96%.

Institutional Trading of Cheniere Energy Partners

A number of large investors have recently made changes to their positions in CQP. Alps Advisors Inc. grew its stake in shares of Cheniere Energy Partners by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock worth $499,447,000 after purchasing an additional 336,946 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cheniere Energy Partners by 2.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,784,925 shares of the company’s stock valued at $149,885,000 after acquiring an additional 68,599 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Cheniere Energy Partners by 37.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company’s stock valued at $58,446,000 after acquiring an additional 298,566 shares in the last quarter. Energy Income Partners LLC grew its holdings in shares of Cheniere Energy Partners by 3.0% during the third quarter. Energy Income Partners LLC now owns 1,046,437 shares of the company’s stock worth $56,319,000 after purchasing an additional 30,172 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Cheniere Energy Partners by 24.1% during the fourth quarter. Clearbridge Investments LLC now owns 611,873 shares of the company’s stock worth $32,723,000 after purchasing an additional 118,782 shares during the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Cheniere Energy Partners Company Profile

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.