Cheniere Energy Partners (NYSE:CQP) Sets New 1-Year High – Here’s Why

Cheniere Energy Partners (NYSE:CQP) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $66.64 and last traded at $66.43, with a volume of 50444 shares changing hands. The stock had previously closed at $65.55.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Barclays increased their price target on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut shares of Cheniere Energy Partners from a “hold” rating to a “sell” rating and increased their price target for the company from $50.00 to $51.00 in a research note on Friday, February 21st.

Cheniere Energy Partners Stock Up 2.2 %

The firm has a market capitalization of $32.73 billion, a PE ratio of 15.87 and a beta of 0.76. The stock’s 50 day moving average is $59.99.

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

Cheniere Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were paid a $0.775 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.04. This represents a $3.10 dividend on an annualized basis and a yield of 4.58%. Cheniere Energy Partners’s dividend payout ratio (DPR) is presently 72.77%.

Hedge Funds Weigh In On Cheniere Energy Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of CQP. Vermillion Wealth Management Inc. bought a new position in shares of Cheniere Energy Partners during the fourth quarter worth $29,000. Valley National Advisers Inc. boosted its position in shares of Cheniere Energy Partners by 30.1% during the fourth quarter. Valley National Advisers Inc. now owns 1,341 shares of the company’s stock worth $71,000 after purchasing an additional 310 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Cheniere Energy Partners by 53.7% during the fourth quarter. IFP Advisors Inc now owns 1,825 shares of the company’s stock worth $97,000 after purchasing an additional 638 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Cheniere Energy Partners during the third quarter worth $116,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Cheniere Energy Partners by 64.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock worth $135,000 after acquiring an additional 1,000 shares during the period. 46.55% of the stock is 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.