Fred Alger Management LLC Buys 5,969 Shares of Cheniere Energy Partners (NYSE:CQP)

Fred Alger Management LLC raised its stake in Cheniere Energy Partners (NYSE:CQP) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,962 shares of the company’s stock after acquiring an additional 5,969 shares during the period. Fred Alger Management LLC’s holdings in Cheniere Energy Partners were worth $2,580,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Empowered Funds LLC grew its position in shares of Cheniere Energy Partners by 3.4% during the third quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock valued at $1,535,000 after purchasing an additional 1,043 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Cheniere Energy Partners during the 3rd quarter valued at approximately $866,000. Van ECK Associates Corp purchased a new stake in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $416,000. BIP Wealth LLC purchased a new position in shares of Cheniere Energy Partners in the third quarter valued at $244,000. Finally, Larson Financial Group LLC bought a new stake in Cheniere Energy Partners in the third quarter worth $146,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Trading Up 2.1 %

Shares of NYSE CQP opened at $58.25 on Monday. Cheniere Energy Partners has a 1-year low of $45.51 and a 1-year high of $62.34. The company has a market cap of $28.20 billion, a price-to-earnings ratio of 12.58 and a beta of 0.67.

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 the consensus estimate of $0.92 by ($0.08). The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. As a group, analysts predict that Cheniere Energy Partners will post 4.29 EPS for the current fiscal year.

Cheniere Energy Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.035 per share. The ex-dividend date was Monday, November 4th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.24%. Cheniere Energy Partners’s dividend payout ratio is presently 66.95%.

Analysts Set New Price Targets

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

Cheniere Energy Partners 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.