Bank of New York Mellon Corp Makes New Investment in Cheniere Energy Partners, L.P. (NYSE:CQP)

Key Points

• Bank of New York Mellon Corp acquired a new stake in Cheniere Energy Partners, purchasing 4,986 shares valued at approximately $329,000 in the first quarter of 2023.
• Cheniere Energy Partners declared a quarterly dividend of $0.82, resulting in an annualized yield of 5.7%, with a record date of August 8th.
• Analysts have given Cheniere Energy Partners a consensus rating of "Reduce," with price targets ranging from $50.00 to $61.00 depending on the brokerage.

Bank of New York Mellon Corp purchased a new stake in shares of Cheniere Energy Partners, L.P. (NYSE:CQP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,986 shares of the company's stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vermillion Wealth Management Inc. purchased a new stake in Cheniere Energy Partners in the fourth quarter worth $29,000. Farther Finance Advisors LLC purchased a new stake in Cheniere Energy Partners in the first quarter worth $34,000. NBC Securities Inc. increased its position in Cheniere Energy Partners by 104,900.0% in the first quarter. NBC Securities Inc. now owns 2,100 shares of the company's stock worth $138,000 after buying an additional 2,098 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Cheniere Energy Partners in the fourth quarter worth $201,000. Finally, ORG Wealth Partners LLC purchased a new stake in Cheniere Energy Partners in the first quarter worth $221,000. 46.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CQP. Bank of America raised their price target on Cheniere Energy Partners from $50.00 to $53.00 and gave the stock an "underperform" rating in a report on Wednesday, June 25th. Barclays raised their price target on Cheniere Energy Partners from $54.00 to $56.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $61.00 price target (up from $59.00) on shares of Cheniere Energy Partners in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. raised their price target on Cheniere Energy Partners from $56.00 to $58.00 and gave the stock an "underweight" rating in a report on Monday, April 28th. Five research analysts have rated the stock with a sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $55.80.

Cheniere Energy Partners Stock Up 0.2%

NYSE:CQP traded up $0.09 during trading hours on Friday, hitting $54.70. 75,633 shares of the company's stock traded hands, compared to its average volume of 192,195. The firm has a market cap of $26.48 billion, a P/E ratio of 13.21 and a beta of 0.44. Cheniere Energy Partners, L.P. has a 52 week low of $47.00 and a 52 week high of $68.42. The business's fifty day simple moving average is $56.06 and its two-hundred day simple moving average is $59.47.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.05). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.21 billion. Cheniere Energy Partners had a net margin of 26.27% and a negative return on equity of 414.56%. Cheniere Energy Partners's revenue for the quarter was up 29.6% compared to the same quarter last year. On average, analysts expect that Cheniere Energy Partners, L.P. will post 4.14 EPS for the current year.

Cheniere Energy Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 8th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.28 annualized dividend and a yield of 6.0%. Cheniere Energy Partners's dividend payout ratio (DPR) is currently 74.52%.

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.