Cheniere Energy Partners (NYSE:CQP) Price Target Raised to $64.00

Cheniere Energy Partners (NYSE:CQP) had its target price boosted by JPMorgan Chase & Co. from $63.00 to $64.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other analysts also recently weighed in on the company. Citigroup raised their price objective on Cheniere Energy Partners from $49.00 to $55.00 and gave the company a “sell” rating in a research note on Thursday, April 2nd. Weiss Ratings upgraded Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Finally, Barclays upped their target price on Cheniere Energy Partners from $60.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $61.00.

Cheniere Energy Partners Stock Performance

Shares of NYSE:CQP opened at $65.54 on Friday. The company’s 50 day moving average price is $62.53 and its two-hundred day moving average price is $61.61. Cheniere Energy Partners has a 12-month low of $49.53 and a 12-month high of $70.64. The firm has a market cap of $31.72 billion, a PE ratio of 15.31 and a beta of 0.31. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 161.69.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($1.03). The company had revenue of $3.60 billion during the quarter. Cheniere Energy Partners had a negative return on equity of 4,929.80% and a net margin of 22.27%.The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. Equities research analysts predict that Cheniere Energy Partners will post 4.2 earnings per share for the current year.

Cheniere Energy Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, May 8th. Cheniere Energy Partners’s payout ratio is presently 72.43%.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in CQP. CX Institutional acquired a new position in shares of Cheniere Energy Partners during the second quarter worth $86,000. NewEdge Advisors LLC grew its stake in shares of Cheniere Energy Partners by 9.5% in the first quarter. NewEdge Advisors LLC now owns 9,294 shares of the company’s stock worth $601,000 after purchasing an additional 807 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Cheniere Energy Partners by 12.4% in the first quarter. Royal Bank of Canada now owns 45,659 shares of the company’s stock worth $2,951,000 after purchasing an additional 5,020 shares during the last quarter. Empowered Funds LLC increased its holdings in Cheniere Energy Partners by 5.1% in the first quarter. Empowered Funds LLC now owns 36,642 shares of the company’s stock valued at $2,368,000 after purchasing an additional 1,780 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Cheniere Energy Partners in the first quarter valued at $350,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.