JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Key Points

• JPMorgan Chase & Co. raised its price target on Cheniere Energy Partners from $57 to $63 but maintained an "underweight" rating, implying roughly a 10% downside from the prior close.
• MarketBeat's analyst consensus is a "Reduce" with an average price target of $59.57, reflecting mostly sell/hold opinions (one Buy, three Hold, five Sell).
• Cheniere delivered a strong quarterly beat (EPS $2.38 vs. $1.11; revenue $2.91B, +18.3% year-over-year), yet the stock trades around $70—near its one-year high and above most analysts' targets.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $57.00 to $63.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 10.00% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. Barclays increased their price target on shares of Cheniere Energy Partners from $55.00 to $60.00 and gave the stock an "underweight" rating in a report on Friday, February 27th. Zacks Research raised shares of Cheniere Energy Partners from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Royal Bank Of Canada increased their price objective on shares of Cheniere Energy Partners from $58.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Friday, March 6th. Wells Fargo & Company reduced their target price on shares of Cheniere Energy Partners from $56.00 to $54.00 and set an "underweight" rating for the company in a report on Friday, March 13th. Finally, Bank of America boosted their target price on shares of Cheniere Energy Partners from $51.00 to $57.00 and gave the company an "underperform" rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Cheniere Energy Partners has a consensus rating of "Reduce" and an average price target of $59.57.

Cheniere Energy Partners Stock Performance

Shares of CQP opened at $70.00 on Friday. The company has a debt-to-equity ratio of 34.21, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a 50-day moving average of $60.51 and a two-hundred day moving average of $55.77. The stock has a market cap of $33.88 billion, a P/E ratio of 13.54 and a beta of 0.40. Cheniere Energy Partners has a one year low of $49.53 and a one year high of $70.64.

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

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings 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 buying an additional 205 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 buying an additional 306 shares in the last quarter. Caldwell Trust Co acquired a new position in shares of Cheniere Energy Partners in the fourth quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Cheniere Energy Partners in the fourth quarter worth about $51,000. Finally, MAI Capital Management boosted its stake in shares of Cheniere Energy Partners by 1,339.3% during the 2nd quarter. MAI Capital Management now owns 1,612 shares of the company's stock worth $90,000 after acquiring an additional 1,500 shares in the last quarter. 46.55% of the stock is owned by hedge funds and other institutional investors.

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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