Cheniere Energy Partners (NYSE:CQP) Reaches New 12-Month High – Here’s Why

Cheniere Energy Partners (NYSE:CQP) reached a new 52-week high on Thursday . The company traded as high as $66.64 and last traded at $66.43, with a volume of 50444 shares changing hands. The stock had previously closed at $65.55.

Analysts Set New Price Targets

CQP has been the subject of a number of analyst reports. Stifel Nicolaus cut Cheniere Energy Partners from a “hold” rating to a “sell” rating and lifted their price objective for the company from $50.00 to $51.00 in a report on Friday, February 21st. Wells Fargo & Company upped their price objective on Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, January 16th.

Cheniere Energy Partners Trading Up 0.7 %

The firm has a market cap of $31.94 billion, a PE ratio of 15.49 and a beta of 0.76. The company has a 50-day moving average of $59.40.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.37 billion. Cheniere Energy Partners had a negative return on equity of 325.95% and a net margin of 28.84%. As a group, sell-side analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Cheniere Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a $0.775 dividend. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Monday, February 10th. Cheniere Energy Partners’s payout ratio is 72.77%.

Institutional Trading of Cheniere Energy Partners

A number of large investors have recently bought and sold shares of CQP. Vermillion Wealth Management Inc. bought a new stake in shares of Cheniere Energy Partners during the 4th quarter worth $29,000. Valley National Advisers Inc. lifted its holdings in shares of Cheniere Energy Partners by 30.1% during the fourth quarter. Valley National Advisers Inc. now owns 1,341 shares of the company’s stock valued at $71,000 after purchasing an additional 310 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Cheniere Energy Partners by 53.7% in the 4th quarter. IFP Advisors Inc now owns 1,825 shares of the company’s stock worth $97,000 after purchasing an additional 638 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Cheniere Energy Partners in the third quarter worth approximately $116,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Cheniere Energy Partners by 64.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock worth $135,000 after purchasing an additional 1,000 shares in the last quarter. 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.