Abacus FCF Advisors LLC boosted its stake in Cheniere Energy Partners, L.P. (NYSE:CQP - Free Report) by 161.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,939 shares of the company's stock after buying an additional 120,937 shares during the quarter. Cheniere Energy Partners makes up approximately 2.2% of Abacus FCF Advisors LLC's portfolio, making the stock its 14th largest holding. Abacus FCF Advisors LLC's holdings in Cheniere Energy Partners were worth $11,942,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CQP. Larson Financial Group LLC grew its holdings in shares of Cheniere Energy Partners by 68.3% in the third quarter. Larson Financial Group LLC now owns 505 shares of the company's stock valued at $27,000 after purchasing an additional 205 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 acquiring an additional 306 shares during the last quarter. Caldwell Trust Co purchased a new position in Cheniere Energy Partners in the fourth quarter worth approximately $29,000. First Pacific Financial purchased a new position in Cheniere Energy Partners in the first quarter worth approximately $32,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Cheniere Energy Partners during the fourth quarter worth $51,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have commented on CQP. JPMorgan Chase & Co. lifted their target price on Cheniere Energy Partners from $63.00 to $64.00 and gave the company an "underweight" rating in a research report on Friday, July 24th. Barclays increased their price target on Cheniere Energy Partners from $63.00 to $66.00 and gave the stock an "underweight" rating in a report on Friday, August 7th. Finally, Weiss Ratings raised Cheniere Energy Partners from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Cheniere Energy Partners has an average rating of "Reduce" and an average target price of $61.43.
Check Out Our Latest Stock Analysis on CQP
Cheniere Energy Partners Stock Performance
NYSE:CQP opened at $67.66 on Thursday. Cheniere Energy Partners, L.P. has a fifty-two week low of $49.53 and a fifty-two week high of $70.64. The company has a debt-to-equity ratio of 19.01, a quick ratio of 1.09 and a current ratio of 1.22. The company has a 50 day moving average price of $63.62 and a 200 day moving average price of $62.98. The stock has a market capitalization of $32.75 billion, a P/E ratio of 12.28 and a beta of 0.31.
Cheniere Energy Partners (NYSE:CQP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.01 by $1.13. The business had revenue of $2.58 billion during the quarter. Cheniere Energy Partners had a return on equity of 1,121.60% and a net margin of 27.31%.The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities research analysts forecast that Cheniere Energy Partners, L.P. will post 4.32 EPS for the current year.
Cheniere Energy Partners Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were paid a $0.775 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $3.10 annualized dividend and a dividend yield of 4.6%. Cheniere Energy Partners's dividend payout ratio (DPR) is presently 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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