Cheniere Energy Partners (NYSE:CQP) Hits New 52-Week High Following Dividend Announcement

Cheniere Energy Partners (NYSE:CQP)’s share price reached a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $63.29 and last traded at $61.95, with a volume of 1281360 shares traded. The stock had previously closed at $61.58.

The newly announced dividend which will be paid on Friday, February 14th. Investors of record on Monday, February 10th will be issued a $0.775 dividend. This is a boost 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 5.00%. The ex-dividend date of this dividend is Monday, February 10th. Cheniere Energy Partners’s dividend payout ratio (DPR) is currently 66.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CQP. Bank of America initiated coverage on Cheniere Energy Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $46.00 target price on the stock. Barclays upped their target price on Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price objective on Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th.

Cheniere Energy Partners Stock Up 0.6 %

The stock’s 50-day moving average is $56.95. The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 13.38 and a beta of 0.75.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.08). The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate 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 revenue was down 3.4% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. As a group, sell-side analysts anticipate that Cheniere Energy Partners will post 4.32 EPS for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp purchased a new position in Cheniere Energy Partners during the 3rd quarter valued at about $416,000. Empowered Funds LLC grew its stake in shares of Cheniere Energy Partners by 3.4% in the 3rd 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 during the last quarter. BIP Wealth LLC purchased a new position in Cheniere Energy Partners during the third quarter valued at $244,000. Larson Financial Group LLC bought a new stake in Cheniere Energy Partners in the third quarter worth $146,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Cheniere Energy Partners in the third quarter worth $866,000. 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.