Citigroup Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Key Points

• Citigroup raised its price target on Cheniere Energy Partners to $55 from $49 but kept a "sell" rating, which implies about a 14.58% downside from the current share price.
• Analyst sentiment is mixed — one Buy, three Hold and five Sell — leaving a consensus rating of "Reduce" and a consensus target of $60.43, though individual targets range as high as $72 (Morgan Stanley).
• Cheniere posted a strong quarterly beat with $2.38 EPS vs. $1.11 expected and $2.91 billion in revenue (up 18.3% year-over-year); the shares trade near $64.39 with a market cap of $31.17 billion and a P/E of 12.45.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price target lifted by stock analysts at Citigroup from $49.00 to $55.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "sell" rating on the stock. Citigroup's price target indicates a potential downside of 14.58% from the company's current price.

Several other equities analysts also recently weighed in on CQP. Zacks Research raised Cheniere Energy Partners from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. JPMorgan Chase & Co. boosted their target price on Cheniere Energy Partners from $57.00 to $63.00 and gave the stock an "underweight" rating in a research report on Friday, March 27th. Barclays upped their target price on Cheniere Energy Partners from $55.00 to $60.00 and gave the company an "underweight" rating in a report on Friday, February 27th. Weiss Ratings upgraded Cheniere Energy Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 25th. Finally, Morgan Stanley boosted their price objective on shares of Cheniere Energy Partners from $55.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $60.43.

Cheniere Energy Partners Price Performance

Shares of NYSE CQP traded down $0.03 during midday trading on Thursday, hitting $64.39. The company had a trading volume of 52,802 shares, compared to its average volume of 117,649. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 34.21. The business has a 50-day simple moving average of $61.21 and a two-hundred day simple moving average of $56.13. Cheniere Energy Partners has a twelve month low of $49.53 and a twelve month high of $70.64. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 12.45 and a beta of 0.40.

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

Institutional Trading of Cheniere Energy Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its holdings in Cheniere Energy Partners by 3.2% in the 1st quarter. NewEdge Advisors LLC now owns 9,717 shares of the company's stock valued at $642,000 after purchasing an additional 300 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Cheniere Energy Partners by 1,863.4% during the first quarter. Jones Financial Companies Lllp now owns 7,029 shares of the company's stock worth $464,000 after buying an additional 6,671 shares in the last quarter. Creative Planning grew its holdings in shares of Cheniere Energy Partners by 18.4% during the second quarter. Creative Planning now owns 5,326 shares of the company's stock worth $299,000 after buying an additional 826 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cheniere Energy Partners by 180.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company's stock valued at $27,000 after buying an additional 306 shares during the last quarter. Finally, McGowan Group Asset Management Inc. lifted its stake in shares of Cheniere Energy Partners by 0.6% during the second quarter. McGowan Group Asset Management Inc. now owns 240,016 shares of the company's stock valued at $13,453,000 after buying an additional 1,509 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. 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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