Cheniere Energy Partners (NYSE:CQP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cheniere Energy Partners (NYSE:CQP) had its price target upped by Wells Fargo & Company from $49.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Separately, Bank of America began coverage on Cheniere Energy Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $46.00 target price on the stock.

Cheniere Energy Partners Price Performance

Shares of NYSE:CQP traded up $0.16 during trading hours on Wednesday, hitting $52.65. The company’s stock had a trading volume of 12,194 shares, compared to its average volume of 161,349. The company’s fifty day moving average is $53.03. Cheniere Energy Partners has a 52 week low of $45.51 and a 52 week high of $59.40. The firm has a market capitalization of $25.49 billion, a P/E ratio of 11.37 and a beta of 0.73.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.08). The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. Cheniere Energy Partners’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Equities research analysts forecast that Cheniere Energy Partners will post 4.29 EPS for the current year.

Cheniere Energy Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.035 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.14 dividend on an annualized basis and a yield of 0.27%. Cheniere Energy Partners’s dividend payout ratio is currently 66.95%.

Hedge Funds Weigh In On Cheniere Energy Partners

Hedge funds have recently bought and sold shares of the company. Montchanin Asset Management LLC grew its holdings in Cheniere Energy Partners by 2.6% during the 3rd quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock worth $951,000 after acquiring an additional 500 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Cheniere Energy Partners by 3.4% in the 3rd quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock valued at $1,535,000 after purchasing an additional 1,043 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Cheniere Energy Partners during the 3rd quarter worth $116,000. Larson Financial Group LLC acquired a new position in shares of Cheniere Energy Partners during the third quarter worth $146,000. Finally, BIP Wealth LLC purchased a new position in Cheniere Energy Partners in the third quarter valued at $244,000. 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.