Cheniere Energy Partners (NYSE:CQP) Hits New 52-Week High – What’s Next?

Cheniere Energy Partners (NYSE:CQP)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $62.74 and last traded at $62.18, with a volume of 16176 shares trading hands. The stock had previously closed at $62.14.

Analyst Ratings Changes

CQP has been the topic of several recent research reports. Bank of America initiated coverage on Cheniere Energy Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $46.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Finally, Barclays increased their price objective 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.

Cheniere Energy Partners Stock Performance

The firm has a market cap of $30.34 billion, a PE ratio of 13.54 and a beta of 0.75. The business has a 50 day moving average of $55.71.

Cheniere Energy Partners (NYSE:CQP) last issued its earnings results on Thursday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.08). Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts predict that Cheniere Energy Partners will post 4.32 EPS for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Monday, November 4th. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Institutional Trading of Cheniere Energy Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Montchanin Asset Management LLC boosted its stake in shares of Cheniere Energy Partners by 2.6% during the 3rd quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock worth $951,000 after purchasing an additional 500 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Cheniere Energy Partners by 3.4% in the third 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. Millburn Ridgefield Corp bought a new position in Cheniere Energy Partners during the 3rd quarter worth approximately $116,000. Larson Financial Group LLC bought a new stake in shares of Cheniere Energy Partners in the 3rd quarter worth approximately $146,000. Finally, Charles Schwab Trust Co acquired a new position in shares of Cheniere Energy Partners during the fourth quarter valued at $212,000. 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.