Cheniere Energy Partners, L.P. (NYSE:CQP – Get Free Report) was down 5% during mid-day trading on Friday . The company traded as low as $62.64 and last traded at $62.3750. Approximately 51,342 shares changed hands during trading, a decline of 51% from the average daily volume of 105,630 shares. The stock had previously closed at $65.69.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on CQP shares. Morgan Stanley raised their price target on Cheniere Energy Partners from $55.00 to $72.00 and gave the stock an “equal weight” rating in a report on Monday, March 23rd. Citigroup raised their price target on Cheniere Energy Partners from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. raised their price objective on shares of Cheniere Energy Partners from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. Royal Bank Of Canada raised 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. Finally, Weiss Ratings downgraded shares of Cheniere Energy Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 5th. Four research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Cheniere Energy Partners has an average rating of “Strong Sell” and an average price target of $60.43.
View Our Latest Research Report on CQP
Cheniere Energy Partners Stock Performance
Cheniere Energy Partners (NYSE:CQP – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($1.03). Cheniere Energy Partners had a net margin of 22.27% and a negative return on equity of 4,929.80%. The company had revenue of $3.60 billion for the quarter. During the same period last year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts expect that Cheniere Energy Partners, L.P. will post 4.19 earnings per share for the current year.
Cheniere Energy Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, May 8th. Cheniere Energy Partners’s dividend payout ratio (DPR) is presently 72.43%.
Institutional Investors Weigh In On Cheniere Energy Partners
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in shares of Cheniere Energy Partners by 9.5% during the 1st quarter. NewEdge Advisors LLC now owns 9,294 shares of the company’s stock valued at $601,000 after acquiring an additional 807 shares during the period. Royal Bank of Canada raised its position in shares of Cheniere Energy Partners by 12.4% during the 1st 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 raised its position in shares of Cheniere Energy Partners by 5.1% during the 1st quarter. Empowered Funds LLC now owns 36,642 shares of the company’s stock worth $2,368,000 after purchasing an additional 1,780 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Cheniere Energy Partners during the 1st quarter worth approximately $350,000. Finally, Infrastructure Capital Advisors LLC raised its position in shares of Cheniere Energy Partners by 43.3% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 226,611 shares of the company’s stock worth $14,646,000 after purchasing an additional 68,436 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.
Cheniere Energy Partners Company Profile
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.
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