Cheniere Energy Partners (NYSE:CQP) Stock Price Down 5% – Here’s What Happened

Cheniere Energy Partners, L.P. (NYSE:CQP)’s share price traded down 5% on Friday . The stock traded as low as $62.64 and last traded at $62.3750. 51,342 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 105,630 shares. The stock had previously closed at $65.69.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Cheniere Energy Partners from $51.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, March 20th. Royal Bank Of Canada boosted their price objective on shares of Cheniere Energy Partners from $58.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of Cheniere Energy Partners from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, March 27th. Morgan Stanley boosted their price objective on shares of Cheniere Energy Partners from $55.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, March 23rd. Finally, Barclays boosted their price objective on shares of Cheniere Energy Partners from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note on Friday, February 27th. Four research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Cheniere Energy Partners has a consensus rating of “Strong Sell” and an average price target of $60.43.

Cheniere Energy Partners Trading Down 3.6%

The firm has a market cap of $30.66 billion, a price-to-earnings ratio of 14.80 and a beta of 0.32. The company has a debt-to-equity ratio of 161.69, a current ratio of 0.42 and a quick ratio of 0.37. The firm’s fifty day moving average is $63.39 and its 200-day moving average is $59.87.

Cheniere Energy Partners (NYSE:CQP) last released its earnings results on Wednesday, May 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($1.03). The firm had revenue of $3.60 billion during the quarter. Cheniere Energy Partners had a net margin of 22.27% and a negative return on equity of 4,929.80%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. Equities analysts anticipate that Cheniere Energy Partners, L.P. will post 4.19 earnings per share for the current year.

Cheniere Energy Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $0.775 dividend. The ex-dividend date was Friday, May 8th. This represents a $3.10 annualized dividend and a yield of 4.9%. Cheniere Energy Partners’s payout ratio is presently 72.43%.

Hedge Funds Weigh In On Cheniere Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. lifted its holdings in Cheniere Energy Partners by 3.7% in the fourth quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock valued at $499,447,000 after buying an additional 336,946 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cheniere Energy Partners by 2.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,784,925 shares of the company’s stock valued at $149,885,000 after buying an additional 68,599 shares during the period. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Cheniere Energy Partners by 37.6% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company’s stock valued at $58,446,000 after purchasing an additional 298,566 shares during the period. Energy Income Partners LLC raised its holdings in shares of Cheniere Energy Partners by 3.0% during the third quarter. Energy Income Partners LLC now owns 1,046,437 shares of the company’s stock valued at $56,319,000 after purchasing an additional 30,172 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Cheniere Energy Partners by 24.1% during the fourth quarter. Clearbridge Investments LLC now owns 611,873 shares of the company’s stock valued at $32,723,000 after purchasing an additional 118,782 shares during the period. Institutional investors and hedge funds 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.