Cheniere Energy Partners (NYSE:CQP) Stake Decreased by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Cheniere Energy Partners (NYSE:CQP - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,968 shares of the company's stock after selling 36,981 shares during the quarter. Bank of America Corp DE's holdings in Cheniere Energy Partners were worth $2,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its holdings in Cheniere Energy Partners by 30.1% in the 4th quarter. Valley National Advisers Inc. now owns 1,341 shares of the company's stock valued at $71,000 after buying an additional 310 shares during the period. IFP Advisors Inc boosted its holdings in shares of Cheniere Energy Partners by 53.7% in the 4th quarter. IFP Advisors Inc now owns 1,825 shares of the company's stock valued at $97,000 after purchasing an additional 638 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Cheniere Energy Partners during the 4th quarter worth $201,000. Davidson Trust Co. purchased a new position in shares of Cheniere Energy Partners in the 4th quarter worth $212,000. Finally, Horizon Kinetics Asset Management LLC acquired a new position in Cheniere Energy Partners in the fourth quarter valued at $212,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Cheniere Energy Partners Stock Up 0.2%

Shares of CQP traded up $0.09 during trading on Thursday, reaching $58.73. The company's stock had a trading volume of 9,519 shares, compared to its average volume of 163,567. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 13.76 and a beta of 0.45. The company has a fifty day moving average of $59.31 and a two-hundred day moving average of $59.53. Cheniere Energy Partners has a twelve month low of $46.73 and a twelve month high of $68.42.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. Cheniere Energy Partners had a negative return on equity of 325.95% and a net margin of 28.84%. Cheniere Energy Partners's revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. As a group, equities analysts forecast that Cheniere Energy Partners will post 4.14 EPS for the current fiscal year.

Cheniere Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 9th were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 5.58%. This is a boost from Cheniere Energy Partners's previous quarterly dividend of $0.78. The ex-dividend date was Friday, May 9th. Cheniere Energy Partners's dividend payout ratio is presently 74.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stifel Nicolaus lowered Cheniere Energy Partners from a "hold" rating to a "sell" rating and upped their price target for the stock from $50.00 to $51.00 in a research note on Friday, February 21st. Barclays lifted their price target on shares of Cheniere Energy Partners from $54.00 to $56.00 and gave the company an "underweight" rating in a research report on Wednesday. Bank of America increased their price objective on shares of Cheniere Energy Partners from $49.00 to $50.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cheniere Energy Partners from $56.00 to $58.00 and gave the company an "underweight" rating in a report on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $54.00.

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.