Bank of America Boosts Cheniere Energy Partners (NYSE:CQP) Price Target to $53.00

Cheniere Energy Partners (NYSE:CQP) had its price target increased by Bank of America from $50.00 to $53.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company restated an “underweight” rating and issued a $61.00 price objective (up previously from $59.00) on shares of Cheniere Energy Partners in a research note on Wednesday. Barclays increased their target price on shares of 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, JPMorgan Chase & Co. increased their target price on shares of Cheniere Energy Partners from $56.00 to $58.00 and gave the stock an “underweight” rating in a research report on Monday, April 28th. Five research analysts have rated the stock with a sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $55.80.

Cheniere Energy Partners Stock Performance

Shares of CQP stock opened at $55.90 on Wednesday. Cheniere Energy Partners has a 52-week low of $47.00 and a 52-week high of $68.42. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 13.44 and a beta of 0.43. The firm has a fifty day moving average of $58.09 and a 200-day moving average of $59.59.

Cheniere Energy Partners (NYSE:CQP) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating 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%. During the same period in the previous year, the business posted $1.18 earnings per share. The company’s quarterly revenue was up 30.2% on a year-over-year basis. On average, sell-side analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Cheniere Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were given a dividend of $0.82 per share. The ex-dividend date was Friday, May 9th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 5.87%. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.78. Cheniere Energy Partners’s dividend payout ratio (DPR) is 74.52%.

Institutional Investors Weigh In On Cheniere Energy Partners

A number of hedge funds have recently added to or reduced their stakes in CQP. Alps Advisors Inc. grew its holdings in Cheniere Energy Partners by 16.6% during the 1st quarter. Alps Advisors Inc. now owns 9,019,585 shares of the company’s stock worth $595,653,000 after acquiring an additional 1,283,564 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cheniere Energy Partners by 24.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,953,675 shares of the company’s stock worth $195,061,000 after acquiring an additional 575,788 shares during the last quarter. Empowered Funds LLC grew its holdings in Cheniere Energy Partners by 139.0% during the 1st 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 during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Cheniere Energy Partners by 6.9% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 712,703 shares of the company’s stock worth $47,067,000 after acquiring an additional 45,870 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Cheniere Energy Partners by 43.2% during the 1st quarter. LPL Financial LLC now owns 120,393 shares of the company’s stock worth $7,951,000 after acquiring an additional 36,307 shares during the last quarter. 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.