JPMorgan Chase & Co. Increases Cheniere Energy Partners (NYSE:CQP) Price Target to $64.00

Key Points

• JPMorgan Chase & Co. raised its price target on Cheniere Energy Partners to $64.00 from $63.00, while keeping an underweight rating on the stock. The new target implies a modest downside from the prior close.
• Other analysts have been mixed on CQP, with recent actions including a Weiss Ratings upgrade, while Citigroup and Barclays both maintained bearish views despite lifting their targets. Overall, MarketBeat shows a consensus rating of Reduce with an average price target of $61.00.
• Shares of Cheniere Energy Partners recently traded at $66.40, above both JPMorgan’s target and the consensus estimate, even after the company reported mixed quarterly results with earnings below expectations but revenue up 20.4% year over year.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $63.00 to $64.00 in a report issued on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 3.62% from the company's previous close.

CQP has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Cheniere Energy Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Citigroup raised their price target on Cheniere Energy Partners from $49.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, April 2nd. Finally, Barclays upped their price objective on Cheniere Energy Partners from $60.00 to $63.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 15th. One research 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, the stock presently has a consensus rating of "Reduce" and a consensus price target of $61.00.

Cheniere Energy Partners Stock Performance

NYSE:CQP traded up $0.47 during mid-day trading on Friday, hitting $66.40. 32,970 shares of the company traded hands, compared to its average volume of 114,110. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 161.69. The stock's fifty day moving average price is $62.49 and its 200-day moving average price is $61.54. The firm has a market cap of $32.14 billion, a price-to-earnings ratio of 15.52 and a beta of 0.31. 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, May 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($1.03). Cheniere Energy Partners had a net margin of 22.27% and a negative return on equity of 4,929.80%. The company had revenue of $3.60 billion for the quarter. During the same period in the previous year, the business posted $1.08 EPS. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts anticipate that Cheniere Energy Partners will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cheniere Energy Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of Cheniere Energy Partners by 68.3% during the 3rd quarter. Larson Financial Group LLC now owns 505 shares of the company's stock worth $27,000 after acquiring an additional 205 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position 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 worth $27,000 after purchasing an additional 306 shares during the last quarter. Caldwell Trust Co bought a new stake in Cheniere Energy Partners in the fourth quarter worth $29,000. First Pacific Financial purchased a new stake in Cheniere Energy Partners during the first quarter valued at $32,000. 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 valued at $51,000. 46.55% of the stock is owned by institutional investors.

Cheniere Energy Partners Company Profile

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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