Cheniere Energy Partners (NYSE:CQP) Price Target Lowered to $55.00 at Barclays

Key Points

• Barclays has reduced the price target for Cheniere Energy Partners (CQP) from $56.00 to $55.00, maintaining an "underweight" rating, which indicates weak performance expectations.
• The stock's current price of $54.53 suggests a potential upside of only 0.86% based on Barclays' revised target, and it has a consensus target price of $54.60.
• Cheniere Energy Partners reported $0.91 earnings per share for the last quarter, missing analysts' expectations, while its revenue of $2.46 billion surpassed forecasts, reflecting a 29.6% year-over-year increase.

Cheniere Energy Partners (NYSE:CQP - Free Report) had its price target trimmed by Barclays from $56.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also recently commented on CQP. JPMorgan Chase & Co. lifted their price objective on Cheniere Energy Partners from $56.00 to $58.00 and gave the stock an "underweight" rating in a research report on Monday, April 28th. Wells Fargo & Company dropped their price objective on Cheniere Energy Partners from $61.00 to $56.00 and set an "underweight" rating for the company in a research report on Tuesday, August 12th. Finally, Bank of America raised their price target on Cheniere Energy Partners from $50.00 to $53.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 25th. Five analysts have rated the stock with a sell rating, Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $54.60.

Cheniere Energy Partners Stock Performance

Cheniere Energy Partners stock traded down $0.14 during midday trading on Thursday, reaching $53.88. 62,249 shares of the company were exchanged, compared to its average volume of 189,429. The company has a market capitalization of $26.08 billion, a price-to-earnings ratio of 13.08 and a beta of 0.44. The firm's 50-day simple moving average is $55.52 and its 200-day simple moving average is $59.13. Cheniere Energy Partners has a 1 year low of $47.02 and a 1 year high of $68.42.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.05). The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.21 billion. Cheniere Energy Partners had a negative return on equity of 503.86% and a net margin of 24.62%. The company's revenue was up 29.6% on a year-over-year basis. On average, analysts forecast that Cheniere Energy Partners will post 4.14 EPS for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 8th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Friday, August 8th. Cheniere Energy Partners's dividend payout ratio (DPR) is presently 75.24%.

Institutional Trading of Cheniere Energy Partners

Hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC raised its holdings in shares of Cheniere Energy Partners by 10.6% in the 1st 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 period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Cheniere Energy Partners by 1.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,249 shares of the company's stock worth $1,073,000 after purchasing an additional 303 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cheniere Energy Partners by 65.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,499 shares of the company's stock worth $561,000 after purchasing an additional 3,364 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Cheniere Energy Partners in the 4th quarter worth about $279,000. Finally, Alps Advisors Inc. raised its holdings in shares of Cheniere Energy Partners by 16.6% in the 1st quarter. Alps Advisors Inc. now owns 9,019,585 shares of the company's stock worth $595,653,000 after purchasing an additional 1,283,564 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

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.