Bank of America Issues Positive Forecast for Cheniere Energy Partners (NYSE:CQP) Stock Price

Cheniere Energy Partners (NYSE:CQP) had its target price hoisted by Bank of America from $51.00 to $57.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other brokerages also recently issued reports on CQP. Barclays upped their price target on shares of Cheniere Energy Partners from $55.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, February 27th. Weiss Ratings raised Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Morgan Stanley reduced their price objective on Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 24th. Royal Bank Of Canada upped their target price on Cheniere Energy Partners from $58.00 to $62.00 and gave the stock a “sector perform” rating in a report on Friday, March 6th. Finally, Wells Fargo & Company dropped their target price on Cheniere Energy Partners from $56.00 to $54.00 and set an “underweight” rating for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $56.43.

Cheniere Energy Partners Trading Up 1.4%

CQP opened at $67.65 on Friday. The company has a market cap of $32.74 billion, a P/E ratio of 13.08 and a beta of 0.40. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 34.21. The company’s 50 day moving average is $59.41 and its 200-day moving average is $55.36. Cheniere Energy Partners has a 1-year low of $49.53 and a 1-year high of $69.49.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings data on Wednesday, February 25th. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $1.27. Cheniere Energy Partners had a net margin of 27.76% and a negative return on equity of 1,446.48%. The business had revenue of $2.91 billion during the quarter. During the same quarter in the prior year, the company earned $1.05 earnings per share. Cheniere Energy Partners’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 9th were paid a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, February 9th. Cheniere Energy Partners’s dividend payout ratio (DPR) is currently 59.96%.

Hedge Funds Weigh In On Cheniere Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtus Investment Advisers LLC grew its position in Cheniere Energy Partners by 6.7% during 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 during the last quarter. Larson Financial Group LLC boosted its stake in shares of Cheniere Energy Partners by 68.3% in the 3rd quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares in the last quarter. Disciplined Investors L.L.C. boosted its stake in shares of Cheniere Energy Partners by 2.6% in the 3rd quarter. Disciplined Investors L.L.C. now owns 8,669 shares of the company’s stock valued at $467,000 after purchasing an additional 223 shares in the last quarter. Powell Investment Advisors LLC grew its holdings in shares of Cheniere Energy Partners by 1.5% during the 3rd quarter. Powell Investment Advisors LLC now owns 17,529 shares of the company’s stock valued at $943,000 after purchasing an additional 259 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Cheniere Energy Partners by 6.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 4,333 shares of the company’s stock valued at $233,000 after purchasing an additional 275 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. (NYSE: CQP) is a publicly traded master limited partnership that owns and operates liquefied natural gas (LNG) infrastructure in the United States. The partnership’s business centers on the development, ownership and operation of LNG facilities and associated pipeline assets that enable the liquefaction, storage and delivery of natural gas for export and domestic use. CQP’s assets are focused on large-scale midstream energy infrastructure intended to serve global natural gas markets.

The company’s core activities include LNG liquefaction and storage, terminal services, and pipeline transportation.