Cheniere Energy Partners (NYSE:CQP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cheniere Energy Partners (NYSE:CQP) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $64.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 5.24% from the company’s previous close.

CQP has been the topic of a number of other reports. Barclays boosted their target price on shares of Cheniere Energy Partners from $63.00 to $66.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada lifted their price target on shares of Cheniere Energy Partners from $62.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Monday, August 24th. Finally, Weiss Ratings upgraded shares of Cheniere Energy Partners from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $62.00.

Cheniere Energy Partners Stock Up 0.3%

Shares of NYSE CQP traded up $0.18 on Friday, hitting $68.59. The company had a trading volume of 50,698 shares, compared to its average volume of 115,509. Cheniere Energy Partners has a 12-month low of $49.53 and a 12-month high of $71.25. The business has a 50 day moving average of $65.56 and a two-hundred day moving average of $63.89. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 19.01. The firm has a market capitalization of $33.20 billion, a P/E ratio of 12.45 and a beta of 0.32.

Cheniere Energy Partners (NYSE:CQP) last announced its earnings results on Wednesday, August 5th. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.01 by $1.13. The business had revenue of $2.58 billion for the quarter. Cheniere Energy Partners had a return on equity of 1,121.60% and a net margin of 27.31%.The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. As a group, equities research analysts forecast that Cheniere Energy Partners will post 4.41 earnings per share for the current fiscal year.

Institutional Trading of Cheniere Energy Partners

A number of hedge funds have recently made changes to their positions in CQP. Asset One Wealth Management LLC raised its holdings in Cheniere Energy Partners by 1.6% in the second quarter. Asset One Wealth Management LLC now owns 10,232 shares of the company’s stock valued at $636,000 after acquiring an additional 157 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Cheniere Energy Partners by 68.3% in the 3rd quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock worth $27,000 after purchasing an additional 205 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cheniere Energy Partners by 1.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,451 shares of the company’s stock worth $740,000 after purchasing an additional 215 shares during the last quarter. Powell Investment Advisors LLC raised its stake in shares of Cheniere Energy Partners by 1.4% in the 1st quarter. Powell Investment Advisors LLC now owns 18,050 shares of the company’s stock valued at $1,167,000 after purchasing an additional 250 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in shares of Cheniere Energy Partners by 6.8% during the third quarter. Kestra Private Wealth Services LLC now owns 4,333 shares of the company’s stock worth $233,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

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.