Cheniere Energy Partners (NYSE:CQP) Reaches New 12-Month High – What’s Next?

Shares of Cheniere Energy Partners (NYSE:CQP) hit a new 52-week high during trading on Wednesday . The company traded as high as $66.47 and last traded at $64.31, with a volume of 358609 shares trading hands. The stock had previously closed at $65.17.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CQP. Barclays upped their target price on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Bank of America assumed coverage on Cheniere Energy Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $46.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th.

Cheniere Energy Partners Stock Down 3.5 %

The firm has a 50 day moving average price of $57.77. The stock has a market cap of $30.18 billion, a P/E ratio of 13.47 and a beta of 0.76.

Cheniere Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 10th will be paid a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.04. Cheniere Energy Partners’s dividend payout ratio is 66.95%.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp bought a new stake in Cheniere Energy Partners in the 3rd quarter valued at $416,000. Empowered Funds LLC boosted its position in shares of Cheniere Energy Partners by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock worth $1,535,000 after acquiring an additional 1,043 shares in the last quarter. BIP Wealth LLC acquired a new stake in shares of Cheniere Energy Partners in the 3rd quarter valued at $244,000. Larson Financial Group LLC bought a new position in Cheniere Energy Partners in the third quarter valued at about $146,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Cheniere Energy Partners in the 3rd quarter valued at approximately $866,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

About Cheniere Energy Partners

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.