Cheniere Energy Partners (NYSE:CQP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cheniere Energy Partners (NYSE:CQP) had its price objective boosted by stock analysts at Wells Fargo & Company from $59.00 to $61.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.42% from the company’s current price.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Cheniere Energy Partners from $56.00 to $58.00 and gave the company an “underweight” rating in a research note on Monday, April 28th. Barclays boosted their price target on Cheniere Energy Partners from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 4th. Finally, Bank of America increased their price target on Cheniere Energy Partners from $49.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a sell rating, According to data from MarketBeat, Cheniere Energy Partners currently has a consensus rating of “Reduce” and an average target price of $55.20.

Cheniere Energy Partners Trading Down 1.2%

CQP traded down $0.65 during trading on Wednesday, reaching $55.75. 16,116 shares of the company were exchanged, compared to its average volume of 166,346. Cheniere Energy Partners has a 52 week low of $47.00 and a 52 week high of $68.42. The firm has a 50 day moving average of $58.42 and a 200 day moving average of $59.63. The stock has a market cap of $26.99 billion, a P/E ratio of 13.34 and a beta of 0.43.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. Cheniere Energy Partners had a net margin of 26.27% and a negative return on equity of 414.56%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, analysts forecast that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cheniere Energy Partners

Several hedge funds have recently modified their holdings of CQP. Militia Capital Partners LP acquired a new stake in shares of Cheniere Energy Partners in the first quarter valued at $594,000. Empowered Funds LLC raised its position in Cheniere Energy Partners by 139.0% in the first quarter. Empowered Funds LLC now owns 82,511 shares of the company’s stock worth $5,449,000 after acquiring an additional 47,985 shares in the last quarter. Everstar Asset Management LLC acquired a new stake in Cheniere Energy Partners in the 1st quarter valued at about $1,787,000. Jones Financial Companies Lllp boosted its position in shares of Cheniere Energy Partners by 1,863.4% during the 1st quarter. Jones Financial Companies Lllp now owns 7,029 shares of the company’s stock valued at $464,000 after purchasing an additional 6,671 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Cheniere Energy Partners by 3.2% in the 1st quarter. NewEdge Advisors LLC now owns 9,717 shares of the company’s stock worth $642,000 after purchasing an additional 300 shares during the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.