Cheniere Energy Partners (NYSE:CQP) Given New $72.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target on Cheniere Energy Partners to $72 (from $55) with an "equal weight" rating, implying roughly a 5.77% upside from the recent share price.
• Cheniere posted a strong quarter with EPS of $2.38 vs. $1.11 expected and revenue of $2.91 billion, up 18.3% year‑over‑year, marking a notable earnings beat.
• Despite the beat and some upward target revisions, the MarketBeat consensus is a Reduce with an average target of $58.86 and a 1 Buy / 3 Hold / 5 Sell analyst split.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price target boosted by Morgan Stanley from $55.00 to $72.00 in a report released on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 5.77% from the company's current price.

CQP has been the topic of a number of other research reports. Royal Bank Of Canada lifted their target price on Cheniere Energy Partners from $58.00 to $62.00 and gave the company a "sector perform" rating in a research report on Friday, March 6th. Weiss Ratings upgraded Cheniere Energy Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 25th. Bank of America boosted their price target on Cheniere Energy Partners from $51.00 to $57.00 and gave the stock an "underperform" rating in a research report on Friday. Wells Fargo & Company cut their price objective on Cheniere Energy Partners from $56.00 to $54.00 and set an "underweight" rating for the company in a report on Friday, March 13th. Finally, Citigroup decreased their target price on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a "sell" rating for the company in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Cheniere Energy Partners presently has an average rating of "Reduce" and an average target price of $58.86.

Cheniere Energy Partners Stock Up 1.6%

Shares of CQP stock traded up $1.05 during trading on Monday, reaching $68.08. The company's stock had a trading volume of 93,039 shares, compared to its average volume of 104,356. Cheniere Energy Partners has a one year low of $49.53 and a one year high of $69.49. The business has a fifty day moving average price of $59.41 and a 200-day moving average price of $55.38. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 13.15 and a beta of 0.40. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 34.21.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $1.27. Cheniere Energy Partners had a net margin of 27.76% and a negative return on equity of 1,446.48%. The firm had revenue of $2.91 billion for the quarter. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The firm's quarterly revenue was up 18.3% on a year-over-year basis. Analysts anticipate that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. raised its stake in Cheniere Energy Partners by 3.7% in the 4th quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company's stock worth $499,447,000 after purchasing an additional 336,946 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cheniere Energy Partners by 2.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,784,925 shares of the company's stock valued at $149,885,000 after buying an additional 68,599 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Cheniere Energy Partners by 37.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company's stock valued at $58,446,000 after buying an additional 298,566 shares during the period. Energy Income Partners LLC boosted its stake in shares of Cheniere Energy Partners by 3.0% in the third quarter. Energy Income Partners LLC now owns 1,046,437 shares of the company's stock valued at $56,319,000 after buying an additional 30,172 shares during the period. Finally, Clearbridge Investments LLC grew its position in Cheniere Energy Partners by 24.1% during the fourth quarter. Clearbridge Investments LLC now owns 611,873 shares of the company's stock worth $32,723,000 after buying an additional 118,782 shares in the last quarter. 46.55% of the stock is currently owned by institutional investors and hedge funds.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P. NYSE: CQP is a publicly traded master limited partnership that owns and operates liquefied natural gas (LNG) infrastructure in the United States. The partnership's business centers on the development, ownership and operation of LNG facilities and associated pipeline assets that enable the liquefaction, storage and delivery of natural gas for export and domestic use. CQP's assets are focused on large-scale midstream energy infrastructure intended to serve global natural gas markets.

The company's core activities include LNG liquefaction and storage, terminal services, and pipeline transportation.

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