Bank of America Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price objective raised by research analysts at Bank of America from $49.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's target price would indicate a potential downside of 17.22% from the stock's previous close.

A number of other brokerages also recently commented on CQP. Barclays lifted their price target on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Stifel Nicolaus cut shares of Cheniere Energy Partners from a "hold" rating to a "sell" rating and lifted their target price for the stock from $50.00 to $51.00 in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on Cheniere Energy Partners from $56.00 to $58.00 and gave the stock an "underweight" rating in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a sell rating, According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $53.60.

Cheniere Energy Partners Stock Performance

CQP stock traded up $1.87 on Tuesday, reaching $60.40. The company had a trading volume of 81,161 shares, compared to its average volume of 165,595. The company's fifty day moving average is $61.78 and its 200 day moving average is $58.26. The company has a market cap of $29.24 billion, a P/E ratio of 14.18 and a beta of 0.45. Cheniere Energy Partners has a 1 year low of $46.71 and a 1 year high of $68.42.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.02). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.37 billion. Cheniere Energy Partners had a net margin of 28.84% and a negative return on equity of 325.95%. On average, sell-side analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

A number of large investors have recently bought and sold shares of CQP. Alps Advisors Inc. increased its holdings in shares of 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 buying an additional 1,283,564 shares during the last quarter. JPMorgan Chase & Co. grew its position in Cheniere Energy Partners by 21.9% during the third quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company's stock valued at $37,264,000 after acquiring an additional 137,477 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cheniere Energy Partners by 5.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,377,887 shares of the company's stock worth $126,313,000 after acquiring an additional 122,956 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in Cheniere Energy Partners by 59.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 96,491 shares of the company's stock worth $5,126,000 after acquiring an additional 35,954 shares during the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Cheniere Energy Partners in the 1st quarter worth about $1,734,000. 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.