Cheniere Energy Partners (NYSE:CQP) Price Target Raised to $58.00

Cheniere Energy Partners (NYSE:CQP) had its target price increased by JPMorgan Chase & Co. from $56.00 to $58.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Barclays lifted their price target on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Stifel Nicolaus cut shares of Cheniere Energy Partners from a “hold” rating to a “sell” rating and upped their price target for the stock from $50.00 to $51.00 in a research report on Friday, February 21st. Five investment analysts have rated the stock with a sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $52.80.

Cheniere Energy Partners Stock Up 0.9 %

Shares of CQP stock opened at $60.05 on Monday. Cheniere Energy Partners has a one year low of $46.71 and a one year high of $68.42. The stock’s 50 day moving average is $62.08. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 14.10 and a beta of 0.57.

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

Cheniere Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a dividend of $0.775 per share. The ex-dividend date was Monday, February 10th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 5.16%. This is a positive change from Cheniere Energy Partners’s previous quarterly dividend of $0.04. Cheniere Energy Partners’s dividend payout ratio (DPR) is currently 72.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its stake in Cheniere Energy Partners by 2.0% during the 1st quarter. Miller Howard Investments Inc. NY now owns 104,157 shares of the company’s stock worth $6,879,000 after buying an additional 2,035 shares during the period. Spire Wealth Management increased its position in shares of Cheniere Energy Partners by 8.1% during the first quarter. Spire Wealth Management now owns 6,362 shares of the company’s stock worth $420,000 after acquiring an additional 474 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Cheniere Energy Partners by 1.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,249 shares of the company’s stock worth $1,073,000 after acquiring an additional 303 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Cheniere Energy Partners in the first quarter worth about $221,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Cheniere Energy Partners by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 11,864 shares of the company’s stock valued at $784,000 after purchasing an additional 598 shares during the last quarter. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

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.