Cheniere Energy Partners (NYSE:CQP) Hits New 52-Week High – Still a Buy?

Cheniere Energy Partners (NYSE:CQP)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $68.42 and last traded at $67.46, with a volume of 54722 shares changing hands. The stock had previously closed at $68.04.

Analysts Set New Price Targets

Several research analysts have commented on CQP shares. Wells Fargo & Company lifted 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 note on Wednesday, December 18th. Barclays raised their target price on Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus lowered Cheniere Energy Partners from a “hold” rating to a “sell” rating and upped their price target for the company from $50.00 to $51.00 in a research report on Friday, February 21st.

Cheniere Energy Partners Stock Performance

The stock has a market cap of $32.63 billion, a price-to-earnings ratio of 15.83 and a beta of 0.70. The business has a fifty day simple moving average of $63.18.

Cheniere Energy Partners (NYSE:CQP) last issued its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Cheniere Energy Partners had a negative return on equity of 325.95% and a net margin of 28.84%. Equities research analysts expect that Cheniere Energy Partners will post 4.14 EPS for the current fiscal year.

Cheniere Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were given a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 4.60%. This is a positive change from Cheniere Energy Partners’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Monday, February 10th. Cheniere Energy Partners’s payout ratio is 72.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CQP. Vermillion Wealth Management Inc. bought a new position in Cheniere Energy Partners in the 4th quarter worth $29,000. Valley National Advisers Inc. lifted its position in shares of Cheniere Energy Partners by 30.1% in the fourth quarter. Valley National Advisers Inc. now owns 1,341 shares of the company’s stock worth $71,000 after buying an additional 310 shares in the last quarter. IFP Advisors Inc boosted its stake in Cheniere Energy Partners by 53.7% during the fourth quarter. IFP Advisors Inc now owns 1,825 shares of the company’s stock valued at $97,000 after buying an additional 638 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in Cheniere Energy Partners during the 3rd quarter valued at approximately $116,000. Finally, Geneos Wealth Management Inc. increased its stake in Cheniere Energy Partners by 64.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock worth $135,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.