Cheniere Energy Partners (NYSE:CQP) Given New $50.00 Price Target at Bank of America

Cheniere Energy Partners (NYSE:CQP) had its price target increased by Bank of America from $49.00 to $50.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other research firms have also weighed in on CQP. Stifel Nicolaus lowered Cheniere Energy Partners from a “hold” rating to a “sell” rating and raised their target price for the company from $50.00 to $51.00 in a report on Friday, February 21st. Barclays increased their price target on Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cheniere Energy Partners from $56.00 to $58.00 and gave the company an “underweight” rating in a research note on Monday. Five investment analysts have rated the stock with a sell rating, Based on data from MarketBeat, Cheniere Energy Partners presently has a consensus rating of “Reduce” and a consensus target price of $53.60.

Cheniere Energy Partners Price Performance

Shares of NYSE CQP opened at $60.43 on Tuesday. Cheniere Energy Partners has a one year low of $46.71 and a one year high of $68.42. The business’s 50-day moving average price is $62.03 and its two-hundred day moving average price is $58.17. The company has a market capitalization of $29.25 billion, a P/E ratio of 14.19 and a beta of 0.57.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. Cheniere Energy Partners had a negative return on equity of 325.95% and a net margin of 28.84%. On average, equities analysts anticipate that Cheniere Energy Partners will post 4.14 EPS for the current year.

Cheniere Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.82 per share. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 5.43%. Cheniere Energy Partners’s payout ratio is presently 72.77%.

Hedge Funds Weigh In On Cheniere Energy Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cheniere Energy Partners by 5.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,377,887 shares of the company’s stock valued at $126,313,000 after purchasing an additional 122,956 shares during the period. JPMorgan Chase & Co. increased its holdings in Cheniere Energy Partners by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock valued at $37,264,000 after buying an additional 137,477 shares during the period. Invesco Ltd. increased its holdings in Cheniere Energy Partners by 1.7% in the 4th quarter. Invesco Ltd. now owns 269,671 shares of the company’s stock valued at $14,325,000 after buying an additional 4,383 shares during the period. McGowan Group Asset Management Inc. lifted its holdings in shares of Cheniere Energy Partners by 0.3% during the 4th quarter. McGowan Group Asset Management Inc. now owns 239,305 shares of the company’s stock worth $12,712,000 after acquiring an additional 735 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Cheniere Energy Partners by 2.0% during the 1st quarter. Miller Howard Investments Inc. NY now owns 104,157 shares of the company’s stock valued at $6,879,000 after acquiring an additional 2,035 shares in the last quarter. 46.55% of the stock is currently owned by institutional investors.

Cheniere Energy Partners Company Profile

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.