Cheniere Energy Partners' (CQP) Underweight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their underweight rating on shares of Cheniere Energy Partners (NYSE:CQP - Free Report) in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $61.00 price target on the stock, up from their previous price target of $59.00.

CQP has been the topic of a number of other research reports. Barclays increased their price objective on Cheniere Energy Partners from $54.00 to $56.00 and gave the company an "underweight" rating in a report on Wednesday, June 4th. Bank of America increased their price objective on Cheniere Energy Partners from $49.00 to $50.00 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on Cheniere Energy Partners from $56.00 to $58.00 and gave the company an "underweight" rating in a report on Monday, April 28th. Five research analysts have rated the stock with a sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $55.80.

Cheniere Energy Partners Stock Down 0.9%

NYSE CQP traded down $0.53 during trading hours on Wednesday, hitting $55.90. 130,780 shares of the company were exchanged, compared to its average volume of 169,301. The company has a 50 day moving average of $58.09 and a two-hundred day moving average of $59.59. Cheniere Energy Partners has a 52-week low of $47.00 and a 52-week high of $68.42. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 13.44 and a beta of 0.43.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. Cheniere Energy Partners had a negative return on equity of 414.56% and a net margin of 26.27%. During the same quarter in the prior year, the business posted $1.18 EPS. The company's revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities research analysts predict that Cheniere Energy Partners will post 4.14 EPS for the current year.

Cheniere Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 9th were issued a $0.82 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 5.87%. This is an increase from Cheniere Energy Partners's previous quarterly dividend of $0.78. Cheniere Energy Partners's dividend payout ratio is presently 74.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. boosted its position 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 valued at $595,653,000 after purchasing an additional 1,283,564 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cheniere Energy Partners by 24.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,953,675 shares of the company's stock valued at $195,061,000 after purchasing an additional 575,788 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of Cheniere Energy Partners by 6.9% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 712,703 shares of the company's stock valued at $47,067,000 after purchasing an additional 45,870 shares during the period. Invesco Ltd. boosted its position in shares of Cheniere Energy Partners by 1.7% in the 4th quarter. Invesco Ltd. now owns 269,671 shares of the company's stock valued at $14,325,000 after purchasing an additional 4,383 shares during the period. Finally, McGowan Group Asset Management Inc. boosted its position in shares of Cheniere Energy Partners by 0.3% in the 4th quarter. McGowan Group Asset Management Inc. now owns 239,305 shares of the company's stock valued at $12,712,000 after purchasing an additional 735 shares during the period. 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.