Tortoise Capital Advisors L.L.C. raised its stake in Cheniere Energy Partners LP (NYSEAMERICAN:CQP) by 318.9% in the second quarter, HoldingsChannel.com reports. The fund owned 457,080 shares of the energy company’s stock after purchasing an additional 347,978 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Cheniere Energy Partners were worth $19,280,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CQP. California Public Employees Retirement System increased its stake in Cheniere Energy Partners by 22.1% in the first quarter. California Public Employees Retirement System now owns 111,891 shares of the energy company’s stock valued at $4,692,000 after purchasing an additional 20,269 shares during the last quarter. Raymond James & Associates increased its stake in Cheniere Energy Partners by 17.8% in the first quarter. Raymond James & Associates now owns 65,158 shares of the energy company’s stock valued at $2,732,000 after purchasing an additional 9,830 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Cheniere Energy Partners in the first quarter valued at $1,406,000. Barings LLC increased its stake in Cheniere Energy Partners by 245.0% in the first quarter. Barings LLC now owns 41,400 shares of the energy company’s stock valued at $1,736,000 after purchasing an additional 29,400 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Cheniere Energy Partners by 17.6% in the first quarter. Advisor Group Inc. now owns 19,900 shares of the energy company’s stock valued at $835,000 after purchasing an additional 2,981 shares during the last quarter.
Several equities analysts recently commented on CQP shares. Zacks Investment Research lowered Cheniere Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lowered Cheniere Energy Partners from an “outperform” rating to a “sector perform” rating and set a $44.00 target price for the company. in a research note on Sunday, June 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $42.00 target price on shares of Cheniere Energy Partners in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.38.
Cheniere Energy Partners stock traded down $0.06 during trading on Friday, hitting $47.35. The company’s stock had a trading volume of 1,842,115 shares, compared to its average volume of 229,386. Cheniere Energy Partners LP has a 1-year low of $32.55 and a 1-year high of $49.30.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.12). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion.
About Cheniere Energy Partners
Cheniere Energy Partners, L.P., through its subsidiaries, owns and operates regasification facilities at the Sabine Pass liquefied natural gas (LNG) terminal located in Cameron Parish, Louisiana on the Sabine-Neches Waterway. The company's regasification facilities include infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion cubic feet equivalent; two marine berths that accommodate vessels of up to 266,000 cubic meters; and vaporizers with regasification capacity of approximately 4.0 billion cubic feet per day.
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