Cheniere Energy Partners (NYSE:CQP) Reaches New 52-Week High Following Analyst Upgrade

Cheniere Energy Partners, L.P. (NYSE:CQP)’s stock price hit a new 52-week high during mid-day trading on Friday after Bank of America raised their price target on the stock from $51.00 to $57.00. Bank of America currently has an underperform rating on the stock. Cheniere Energy Partners traded as high as $68.99 and last traded at $68.6420, with a volume of 80227 shares. The stock had previously closed at $66.73.

Other equities analysts have also issued reports about the stock. Citigroup lowered their target price on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a report on Monday, January 12th. Barclays boosted their price target on Cheniere Energy Partners from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, February 27th. Wells Fargo & Company reduced their price objective on shares of Cheniere Energy Partners from $56.00 to $54.00 and set an “underweight” rating on the stock in a research report on Friday, March 13th. Morgan Stanley dropped their price target on Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. Finally, Royal Bank Of Canada increased their price objective on shares of Cheniere Energy Partners from $58.00 to $62.00 and gave the company a “sector perform” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $56.43.

Institutional Investors Weigh In On Cheniere Energy Partners

A number of institutional investors have recently modified their holdings of CQP. Larson Financial Group LLC grew its holdings in shares of Cheniere Energy Partners by 68.3% during the third quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Cheniere Energy Partners by 180.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock worth $27,000 after buying an additional 306 shares during the period. Caldwell Trust Co acquired a new position in shares of Cheniere Energy Partners during the fourth quarter valued at $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Cheniere Energy Partners during the fourth quarter worth about $51,000. Finally, MAI Capital Management lifted its position in Cheniere Energy Partners by 1,339.3% in the 2nd quarter. MAI Capital Management now owns 1,612 shares of the company’s stock valued at $90,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Stock Up 2.9%

The firm has a 50 day simple moving average of $59.12 and a two-hundred day simple moving average of $55.28. The company has a debt-to-equity ratio of 34.21, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market cap of $33.24 billion, a P/E ratio of 13.27 and a beta of 0.40.

Cheniere Energy Partners (NYSE:CQP) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $1.27. Cheniere Energy Partners had a net margin of 27.76% and a negative return on equity of 1,446.48%. The business had revenue of $2.91 billion during the quarter. During the same period in the prior year, the company posted $1.05 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Equities research analysts predict that Cheniere Energy Partners, L.P. will post 4.14 earnings per share for the current year.

Cheniere Energy Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were paid a $0.775 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.5%. Cheniere Energy Partners’s payout ratio is currently 59.96%.

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.