Cheniere Energy Partners (NYSE:CQP) Reaches New 52-Week High – Still a Buy?

Cheniere Energy Partners (NYSE:CQP) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.68 and last traded at $59.51, with a volume of 147281 shares. The stock had previously closed at $56.47.

Analysts Set New Price Targets

CQP has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Bank of America initiated coverage on Cheniere Energy Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $46.00 price objective on the stock. Finally, Barclays raised their target price on Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday.

Cheniere Energy Partners Trading Up 3.5 %

The firm has a market capitalization of $29.86 billion, a P/E ratio of 13.32 and a beta of 0.75. The business has a 50 day simple moving average of $55.23.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts predict that Cheniere Energy Partners will post 4.32 EPS for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Monday, November 4th. Cheniere Energy Partners’s dividend payout ratio is currently 66.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CQP. JPMorgan Chase & Co. lifted its holdings in Cheniere Energy Partners by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock worth $37,264,000 after buying an additional 137,477 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Cheniere Energy Partners by 12.7% during the third quarter. Fred Alger Management LLC now owns 52,962 shares of the company’s stock worth $2,580,000 after acquiring an additional 5,969 shares during the period. Empowered Funds LLC raised its stake in shares of Cheniere Energy Partners by 3.4% in the third quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock valued at $1,535,000 after acquiring an additional 1,043 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Cheniere Energy Partners in the third quarter valued at $1,286,000. Finally, Montchanin Asset Management LLC grew its stake in Cheniere Energy Partners by 2.6% during the 3rd quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock worth $951,000 after purchasing an additional 500 shares in 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., 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.