Cheniere Energy Partners (NYSE:CQP) Price Target Cut to $56.00 by Analysts at Wells Fargo & Company

Cheniere Energy Partners (NYSE:CQP) had its price objective reduced by Wells Fargo & Company from $61.00 to $56.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cheniere Energy Partners from $56.00 to $58.00 and gave the company an “underweight” rating in a research note on Monday, April 28th. Barclays boosted their price objective on shares of Cheniere Energy Partners from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday, June 4th. Finally, Bank of America boosted their price objective on shares of Cheniere Energy Partners from $50.00 to $53.00 and gave the company an “underperform” rating in a research note on Wednesday, June 25th. Five analysts have rated the stock with a sell rating, According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $54.60.

Cheniere Energy Partners Price Performance

Shares of Cheniere Energy Partners stock opened at $54.68 on Tuesday. The firm’s fifty day simple moving average is $55.62 and its 200-day simple moving average is $59.22. The stock has a market capitalization of $26.47 billion, a price-to-earnings ratio of 13.27 and a beta of 0.44. Cheniere Energy Partners has a 12 month low of $47.02 and a 12 month high of $68.42.

Cheniere Energy Partners (NYSE:CQP) last announced its earnings results on Thursday, August 7th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.05). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.21 billion. Cheniere Energy Partners had a net margin of 24.62% and a negative return on equity of 503.86%. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. Analysts anticipate that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Cheniere Energy Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Friday, August 8th. Cheniere Energy Partners’s dividend payout ratio is presently 75.24%.

Institutional Trading of Cheniere Energy Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. McGowan Group Asset Management Inc. grew its position in Cheniere Energy Partners by 0.6% in the second quarter. McGowan Group Asset Management Inc. now owns 240,016 shares of the company’s stock valued at $13,453,000 after acquiring an additional 1,509 shares in the last quarter. Virtus Investment Advisers LLC grew its position in Cheniere Energy Partners by 6.7% in the second quarter. Virtus Investment Advisers LLC now owns 3,064 shares of the company’s stock valued at $172,000 after acquiring an additional 193 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew 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 valued at $27,000 after acquiring an additional 306 shares in the last quarter. Mediolanum International Funds Ltd grew its position in Cheniere Energy Partners by 67.7% in the second quarter. Mediolanum International Funds Ltd now owns 31,037 shares of the company’s stock valued at $1,740,000 after acquiring an additional 12,526 shares in the last quarter. Finally, MAI Capital Management grew its position in Cheniere Energy Partners by 1,339.3% in the second quarter. MAI Capital Management now owns 1,612 shares of the company’s stock valued at $90,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds 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.