Cheniere Energy Partners LP (CQP) Stake Lessened by Clearbridge Investments LLC
Clearbridge Investments LLC cut its stake in shares of Cheniere Energy Partners LP (NYSEAMERICAN:CQP) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,681,046 shares of the energy company’s stock after selling 261,280 shares during the quarter. Clearbridge Investments LLC’s holdings in Cheniere Energy Partners were worth $49,826,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Blackstone Group L.P. raised its position in Cheniere Energy Partners by 5,731.3% during the third quarter. Blackstone Group L.P. now owns 202,450,687 shares of the energy company’s stock valued at $5,834,629,000 after buying an additional 198,978,886 shares during the period. First Allied Advisory Services Inc. raised its position in Cheniere Energy Partners by 45.0% during the third quarter. First Allied Advisory Services Inc. now owns 26,309 shares of the energy company’s stock valued at $759,000 after buying an additional 8,160 shares during the period. Allianz Asset Management GmbH acquired a new position in Cheniere Energy Partners during the third quarter valued at $331,000. Jane Street Group LLC raised its position in Cheniere Energy Partners by 7.7% during the third quarter. Jane Street Group LLC now owns 55,075 shares of the energy company’s stock valued at $1,587,000 after buying an additional 3,953 shares during the period. Finally, Jennison Associates LLC raised its position in Cheniere Energy Partners by 0.3% during the fourth quarter. Jennison Associates LLC now owns 973,425 shares of the energy company’s stock valued at $28,852,000 after buying an additional 2,496 shares during the period.
CQP has been the topic of several recent analyst reports. Morgan Stanley upped their price target on Cheniere Energy Partners from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Barclays set a $35.00 price target on Cheniere Energy Partners and gave the company a “hold” rating in a research report on Monday, February 12th. Zacks Investment Research lowered Cheniere Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 6th. Finally, Stifel Nicolaus initiated coverage on Cheniere Energy Partners in a research report on Thursday, January 4th. They set a “hold” rating and a $30.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Cheniere Energy Partners currently has an average rating of “Hold” and a consensus target price of $34.00.
Cheniere Energy Partners LP (NYSEAMERICAN:CQP) opened at $30.32 on Wednesday. Cheniere Energy Partners LP has a 52 week low of $26.41 and a 52 week high of $33.47. The company has a market capitalization of $14,530.00, a PE ratio of 31.26 and a beta of 0.89.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.37. Cheniere Energy Partners had a return on equity of 266.18% and a net margin of 24.64%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.31 billion.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $2.00 dividend on an annualized basis and a yield of 6.60%. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.44. Cheniere Energy Partners’s payout ratio is 206.19%.
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About Cheniere Energy Partners
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.
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