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 target increased by Bank of America from $49.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's price objective would suggest a potential downside of 15.69% from the stock's current price.

Several other research analysts have also issued reports on the stock. Barclays increased their price target on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Stifel Nicolaus lowered shares of Cheniere Energy Partners from a "hold" rating to a "sell" rating and lifted their target price for the company from $50.00 to $51.00 in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped 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. Five investment analysts have rated the stock with a sell rating, According to MarketBeat.com, Cheniere Energy Partners has a consensus rating of "Reduce" and a consensus price target of $53.60.

Cheniere Energy Partners Price Performance

CQP traded up $0.78 on Tuesday, hitting $59.31. The company had a trading volume of 12,556 shares, compared to its average volume of 165,384. The stock has a fifty day simple moving average of $61.85 and a 200-day simple moving average of $58.18. The firm has a market capitalization of $28.71 billion, a P/E ratio of 13.92 and a beta of 0.57. Cheniere Energy Partners has a 52-week low of $46.71 and a 52-week high of $68.42.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.37 billion. Cheniere Energy Partners had a net margin of 28.84% and a negative return on equity of 325.95%. Equities research analysts expect 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 and other institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC raised its stake in shares of Cheniere Energy Partners by 10.6% in the first quarter. Cerity Partners LLC now owns 21,024 shares of the company's stock worth $1,388,000 after purchasing an additional 2,016 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Cheniere Energy Partners by 16.6% in the first 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 period. Stratos Wealth Partners LTD. raised its holdings in shares of Cheniere Energy Partners by 5.0% during the first quarter. Stratos Wealth Partners LTD. now owns 6,274 shares of the company's stock valued at $414,000 after purchasing an additional 300 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Cheniere Energy Partners in the first quarter worth approximately $329,000. Finally, Miller Howard Investments Inc. NY raised its stake in Cheniere Energy Partners by 2.0% during the 1st quarter. Miller Howard Investments Inc. NY now owns 104,157 shares of the company's stock valued at $6,879,000 after buying an additional 2,035 shares during the last quarter. 46.55% of the stock is owned by institutional investors.

Cheniere Energy Partners Company Profile

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.