Bank of America Issues Positive Forecast for Cheniere Energy Partners (NYSE:CQP) Stock Price

Cheniere Energy Partners (NYSE:CQP) had its price target boosted by research analysts at Bank of America from $49.00 to $50.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential downside of 14.76% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Barclays boosted their target price on Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on Cheniere Energy Partners from $56.00 to $58.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Stifel Nicolaus cut Cheniere Energy Partners from a “hold” rating to a “sell” rating and boosted their target price for the company from $50.00 to $51.00 in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $53.60.

Cheniere Energy Partners Price Performance

NYSE:CQP opened at $58.66 on Tuesday. Cheniere Energy Partners has a fifty-two week low of $46.71 and a fifty-two week high of $68.42. The stock has a market capitalization of $28.39 billion, a PE ratio of 13.77 and a beta of 0.57. The business’s 50-day simple moving average is $61.95 and its 200-day simple moving average is $58.17.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). Cheniere Energy Partners had a net margin of 28.84% and a negative return on equity of 325.95%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.37 billion. On average, research analysts expect that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its position in shares of Cheniere Energy Partners by 16.6% in the 1st quarter. Alps Advisors Inc. now owns 9,019,585 shares of the company’s stock valued at $595,653,000 after acquiring an additional 1,283,564 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cheniere Energy Partners by 5.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,377,887 shares of the company’s stock valued at $126,313,000 after acquiring an additional 122,956 shares during the period. JPMorgan Chase & Co. grew its position in shares of Cheniere Energy Partners by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock valued at $37,264,000 after acquiring an additional 137,477 shares during the period. Invesco Ltd. grew its position in shares of Cheniere Energy Partners by 1.7% in the 4th quarter. Invesco Ltd. now owns 269,671 shares of the company’s stock valued at $14,325,000 after acquiring an additional 4,383 shares during the period. Finally, McGowan Group Asset Management Inc. grew its position in shares of Cheniere Energy Partners by 0.3% in the 4th quarter. McGowan Group Asset Management Inc. now owns 239,305 shares of the company’s stock valued at $12,712,000 after acquiring an additional 735 shares during the period. Institutional investors own 46.55% of the company’s stock.

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.