Cheniere Energy Partners (NYSE:CQP) Price Target Raised to $55.00

Cheniere Energy Partners (NYSE:CQP) had its price objective upped by Wells Fargo & Company from $49.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

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

Cheniere Energy Partners Trading Up 0.6 %

CQP opened at $52.22 on Wednesday. The company has a market capitalization of $25.28 billion, a P/E ratio of 11.28 and a beta of 0.73. The firm has a fifty day moving average of $52.98. Cheniere Energy Partners has a 1-year low of $45.51 and a 1-year high of $59.40.

Cheniere Energy Partners (NYSE:CQP) last issued its earnings results on Thursday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, analysts forecast that Cheniere Energy Partners will post 4.29 earnings per share for the current fiscal year.

Cheniere Energy Partners Announces Dividend

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

Institutional Trading of Cheniere Energy Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Blankinship & Foster LLC bought a new stake in Cheniere Energy Partners in the 3rd quarter worth about $424,000. M&T Bank Corp bought a new position in shares of Cheniere Energy Partners in the third quarter valued at approximately $587,000. Montchanin Asset Management LLC increased its position in shares of Cheniere Energy Partners by 2.6% during the third quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock valued at $951,000 after acquiring an additional 500 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Cheniere Energy Partners during the third quarter worth $1,286,000. Finally, Millburn Ridgefield Corp purchased a new position in Cheniere Energy Partners in the third quarter worth $116,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

About Cheniere Energy Partners

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.