Cheniere Energy Partners (NYSE:CQP) Hits New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

A number of research analysts have commented on CQP shares. Barclays upped their price target on Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Finally, Bank of America assumed coverage on Cheniere Energy Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price objective for the company.

Cheniere Energy Partners Trading Up 0.9 %

The company has a market cap of $30.34 billion, a P/E ratio of 13.54 and a beta of 0.75. The business’s 50 day moving average price is $55.71.

Cheniere Energy Partners (NYSE:CQP) last released 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). The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. Cheniere Energy Partners’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. Sell-side analysts anticipate that Cheniere Energy Partners will post 4.32 EPS for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.14 dividend on an annualized basis and a yield of 0.22%. Cheniere Energy Partners’s payout ratio is presently 66.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Millburn Ridgefield Corp acquired a new position in Cheniere Energy Partners in the third quarter valued at about $116,000. Larson Financial Group LLC purchased a new position in shares of Cheniere Energy Partners during the third quarter worth $146,000. Charles Schwab Trust Co purchased a new stake in shares of Cheniere Energy Partners in the 4th quarter valued at $212,000. BIP Wealth LLC acquired a new position in Cheniere Energy Partners during the 3rd quarter worth about $244,000. Finally, Van ECK Associates Corp purchased a new position in Cheniere Energy Partners during the 3rd quarter valued at about $416,000. Institutional investors and hedge funds 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.