Cheniere Energy Partners (NYSE:CQP) Reaches New 1-Year High - What's Next?

Key Points

• Cheniere Energy Partners shares reached a new 52-week high of $70.76, rising above the previous close of $68.91. However, analysts’ average rating remains “Reduce,” with a consensus price target of $61.86.
• The company reported strong quarterly results, earning $2.14 per share versus the $1.01 analyst consensus, while revenue rose 5.2% year over year to $2.58 billion.
• Cheniere Energy Partners declared a quarterly dividend of $0.775 per share, equivalent to $3.10 annually and a 4.4% yield; institutional investors own 46.55% of the company.

Cheniere Energy Partners, L.P. (NYSE:CQP - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $70.76 and last traded at $70.76, with a volume of 110438 shares changing hands. The stock had previously closed at $68.91.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of Cheniere Energy Partners from $63.00 to $66.00 and gave the stock an "underweight" rating in a research note on Friday, August 7th. Weiss Ratings upgraded Cheniere Energy Partners from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Royal Bank Of Canada raised their target price on Cheniere Energy Partners from $62.00 to $65.00 and gave the stock a "sector perform" rating in a research report on Monday, August 24th. Finally, JPMorgan Chase & Co. upped their price target on Cheniere Energy Partners from $63.00 to $64.00 and gave the company an "underweight" rating in a report on Friday, July 24th. One 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. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $61.86.

Cheniere Energy Partners Price Performance

The firm has a market capitalization of $34.25 billion, a PE ratio of 12.84 and a beta of 0.31. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 19.01. The company has a fifty day moving average price of $64.72 and a two-hundred day moving average price of $63.54.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $1.13. The firm had revenue of $2.58 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Sell-side analysts forecast that Cheniere Energy Partners, L.P. will post 4.41 earnings per share for the current year.

Cheniere Energy Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a dividend of $0.775 per share. The ex-dividend date was Friday, August 7th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.4%. Cheniere Energy Partners's dividend payout ratio (DPR) is 56.26%.

Institutional Trading of Cheniere Energy Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Compass Financial Management LLC purchased a new position in Cheniere Energy Partners during the 2nd quarter worth $79,000. NEOS Investment Management LLC raised its holdings in shares of Cheniere Energy Partners by 39.4% in the second quarter. NEOS Investment Management LLC now owns 352,339 shares of the company's stock valued at $21,475,000 after buying an additional 99,542 shares during the last quarter. Two Sigma Securities LLC raised its holdings in shares of Cheniere Energy Partners by 7.0% in the second quarter. Two Sigma Securities LLC now owns 4,288 shares of the company's stock valued at $261,000 after buying an additional 279 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cheniere Energy Partners by 18.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,424 shares of the company's stock worth $270,000 after buying an additional 680 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Cheniere Energy Partners by 86.4% during the second quarter. Jones Financial Companies Lllp now owns 2,339 shares of the company's stock worth $142,000 after buying an additional 1,084 shares during the period. Hedge funds and other institutional investors own 46.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source