Morgan Stanley Lowers Cheniere Energy Partners (NYSE:CQP) Price Target to $55.00

Cheniere Energy Partners (NYSE:CQP) had its price objective reduced by Morgan Stanley from $71.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 6.76% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut Cheniere Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Bank of America lowered their target price on Cheniere Energy Partners from $53.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, December 11th. Citigroup cut their price target on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cheniere Energy Partners in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average price target of $54.00.

Cheniere Energy Partners Trading Down 1.2%

CQP stock traded down $0.74 during midday trading on Tuesday, hitting $58.99. 20,038 shares of the company’s stock were exchanged, compared to its average volume of 83,347. The stock has a market capitalization of $28.55 billion, a price-to-earnings ratio of 15.38 and a beta of 0.42. The firm has a 50 day moving average price of $55.80 and a 200-day moving average price of $54.20. Cheniere Energy Partners has a 12-month low of $49.53 and a 12-month high of $68.42.

Hedge Funds Weigh In On Cheniere Energy Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in shares of Cheniere Energy Partners by 3.7% in the 4th quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock worth $499,447,000 after acquiring an additional 336,946 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cheniere Energy Partners by 2.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,784,925 shares of the company’s stock worth $149,885,000 after purchasing an additional 68,599 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Cheniere Energy Partners by 37.6% in 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 buying an additional 298,566 shares in the last quarter. Energy Income Partners LLC raised its holdings in shares of Cheniere Energy Partners by 3.0% in the third quarter. Energy Income Partners LLC now owns 1,046,437 shares of the company’s stock valued at $56,319,000 after buying an additional 30,172 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Cheniere Energy Partners by 24.1% in the fourth quarter. Clearbridge Investments LLC now owns 611,873 shares of the company’s stock valued at $32,723,000 after buying an additional 118,782 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors.

Cheniere Energy Partners Company Profile

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.