Wells Fargo & Company Boosts Cheniere Energy Partners (NYSE:CQP) Price Target to $55.00

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

Separately, Bank of America started coverage on shares of Cheniere Energy Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $46.00 target price for the company.

Cheniere Energy Partners Price Performance

NYSE:CQP opened at $52.22 on Wednesday. The business has a 50 day moving average of $52.98. Cheniere Energy Partners has a 12 month low of $45.51 and a 12 month high of $59.40. The company has a market cap of $25.28 billion, a PE ratio of 11.28 and a beta of 0.73.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Cheniere Energy Partners will post 4.29 EPS for the current year.

Cheniere Energy Partners Dividend Announcement

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

Institutional Trading of Cheniere Energy Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in shares of Cheniere Energy Partners during the 3rd quarter valued at $416,000. Empowered Funds LLC grew its position in Cheniere Energy Partners by 3.4% during the third quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock worth $1,535,000 after buying an additional 1,043 shares in the last quarter. BIP Wealth LLC bought a new position in Cheniere Energy Partners in the 3rd quarter worth about $244,000. Larson Financial Group LLC purchased a new stake in shares of Cheniere Energy Partners in the 3rd quarter valued at about $146,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Cheniere Energy Partners during the 3rd quarter valued at about $866,000. 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.