Cheniere Energy Partners (NYSE:CQP) Sets New 1-Year High – Here’s Why

Cheniere Energy Partners (NYSE:CQP)’s stock price reached 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

A number of research firms have recently commented on CQP. Wells Fargo & Company increased their price objective on Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Bank of America began coverage on shares of Cheniere Energy Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday.

Cheniere Energy Partners Stock Performance

The stock has a market cap of $29.86 billion, a price-to-earnings ratio of 13.32 and a beta of 0.75. The company has a 50-day moving average price of $55.23.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.84 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts forecast that Cheniere Energy Partners will post 4.32 EPS for the current year.

Cheniere Energy Partners Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CQP. Millburn Ridgefield Corp acquired a new stake in shares of Cheniere Energy Partners during the third quarter worth about $116,000. Larson Financial Group LLC acquired a new stake in Cheniere Energy Partners during the 3rd quarter worth approximately $146,000. Charles Schwab Trust Co purchased a new position in shares of Cheniere Energy Partners in the 4th quarter valued at approximately $212,000. BIP Wealth LLC acquired a new position in shares of Cheniere Energy Partners in the third quarter valued at approximately $244,000. Finally, Van ECK Associates Corp acquired a new position in shares of Cheniere Energy Partners in the third quarter valued at approximately $416,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Cheniere Energy Partners Company Profile

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.