Bank of America Corp DE reduced its stake in Cheniere Energy Partners, L.P. (NYSE:CQP - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 110,356 shares of the company's stock after selling 52,619 shares during the quarter. Bank of America Corp DE's holdings in Cheniere Energy Partners were worth $7,132,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cheniere Energy Partners by 180.0% in the 2nd 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 period. First Pacific Financial acquired a new position in Cheniere Energy Partners in the 1st quarter valued at about $32,000. Larson Financial Group LLC increased its stake in Cheniere Energy Partners by 68.3% during the third quarter. Larson Financial Group LLC now owns 505 shares of the company's stock worth $27,000 after purchasing an additional 205 shares during the period. Caldwell Trust Co purchased a new stake in Cheniere Energy Partners during the fourth quarter worth about $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Cheniere Energy Partners during the fourth quarter worth about $51,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on CQP shares. Weiss Ratings raised shares of Cheniere Energy Partners from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada lifted their price objective on shares of Cheniere Energy Partners from $62.00 to $65.00 and gave the company a "sector perform" rating in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Cheniere Energy Partners from $63.00 to $64.00 and gave the stock an "underweight" rating in a report on Friday, July 24th. Finally, Barclays raised their price target on shares of Cheniere Energy Partners from $63.00 to $66.00 and gave the company an "underweight" rating in a research report on Friday, August 7th. One 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 data from MarketBeat, Cheniere Energy Partners currently has a consensus rating of "Reduce" and an average target price of $61.86.
Check Out Our Latest Stock Analysis on Cheniere Energy Partners
Cheniere Energy Partners Stock Performance
Shares of Cheniere Energy Partners stock opened at $67.90 on Wednesday. The firm has a market capitalization of $32.87 billion, a P/E ratio of 12.32 and a beta of 0.31. Cheniere Energy Partners, L.P. has a 52 week low of $49.53 and a 52 week high of $70.64. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 19.01. The firm's 50 day moving average is $64.13 and its two-hundred day moving average is $63.31.
Cheniere Energy Partners (NYSE:CQP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.01 by $1.13. Cheniere Energy Partners had a net margin of 27.31% and a return on equity of 1,121.60%. The business had revenue of $2.58 billion during the quarter. During the same quarter in the prior year, the firm posted $0.91 EPS. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Cheniere Energy Partners, L.P. will post 4.41 EPS for the current fiscal year.
Cheniere Energy Partners Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, August 7th. Cheniere Energy Partners's dividend payout ratio (DPR) is currently 56.26%.
Cheniere Energy Partners Company Profile
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Free Report)
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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