Wells Fargo & Company Issues Positive Forecast for Cheniere Energy Partners (NYSE:CQP) Stock Price

Cheniere Energy Partners (NYSE:CQP) had its target price lifted by Wells Fargo & Company from $49.00 to $55.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Separately, Bank of America started coverage on shares of Cheniere Energy Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price target on the stock.

Cheniere Energy Partners Stock Up 0.3 %

CQP stock traded up $0.16 during trading on Wednesday, reaching $52.65. The company’s stock had a trading volume of 12,194 shares, compared to its average volume of 161,349. The company has a fifty day moving average price of $53.03. The firm has a market cap of $25.49 billion, a P/E ratio of 11.37 and a beta of 0.73. Cheniere Energy Partners has a 1 year low of $45.51 and a 1 year high of $59.40.

Cheniere Energy Partners (NYSE:CQP) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that Cheniere Energy Partners will post 4.29 EPS for the current year.

Cheniere Energy Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Monday, November 4th. Cheniere Energy Partners’s dividend payout ratio is 66.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Blankinship & Foster LLC bought a new stake in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $424,000. Rockefeller Capital Management L.P. purchased a new position in Cheniere Energy Partners in the 3rd quarter worth about $866,000. Kovitz Investment Group Partners LLC bought a new stake in Cheniere Energy Partners during the 3rd quarter valued at about $1,286,000. Van ECK Associates Corp bought a new position in Cheniere Energy Partners in the 3rd quarter worth about $416,000. Finally, Larson Financial Group LLC bought a new stake in shares of Cheniere Energy Partners during the third quarter valued at approximately $146,000. Institutional investors own 46.55% of the company’s stock.

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.