Cheniere Energy Partners (NYSE:CQP) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• CQP slipped below its 200-day moving average of $63.38, touching $62.66 before last trading at $63.16.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Reduce” rating and a $62.25 target price, with five Sell ratings among ten analysts.
• The company beat quarterly earnings estimates, reporting $1.01 per share versus $0.98 expected and revenue up 7.1% year over year, but cut its quarterly dividend from $0.775 to $0.115 per share.

Cheniere Energy Partners, L.P. (NYSE:CQP - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $63.38 and traded as low as $62.66. Cheniere Energy Partners shares last traded at $63.16, with a volume of 102,411 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings lowered Cheniere Energy Partners from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Royal Bank Of Canada upped their price objective on Cheniere Energy Partners from $62.00 to $65.00 and gave the company a "sector perform" rating in a research note on Monday, August 24th. Wells Fargo & Company cut their target price on shares of Cheniere Energy Partners from $62.00 to $60.00 and set an "underweight" rating on the stock in a research report on Friday, October 30th. 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 report on Friday, August 7th. Finally, Morgan Stanley upped their price target on shares of Cheniere Energy Partners from $62.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Cheniere Energy Partners presently has a consensus rating of "Reduce" and a consensus target price of $62.25.

Cheniere Energy Partners Trading Down 2.1%

The firm's 50-day moving average price is $65.41 and its 200 day moving average price is $63.38. The company has a market cap of $30.57 billion, a price-to-earnings ratio of 11.04 and a beta of 0.30. The company has a current ratio of 1.19, a quick ratio of 1.07 and a debt-to-equity ratio of 16.25.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.03. Cheniere Energy Partners had a return on equity of 497.69% and a net margin of 28.05%. The business had revenue of $2.57 billion for the quarter. During the same quarter in the previous year, the company posted $0.80 EPS. The firm's revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Cheniere Energy Partners, L.P. will post 4.49 EPS for the current year.

Cheniere Energy Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.1150 per share. This represents a $0.46 annualized dividend and a yield of 0.7%. This is a negative change from Cheniere Energy Partners's previous quarterly dividend of $0.7750. The ex-dividend date of this dividend is Tuesday, November 3rd. Cheniere Energy Partners's dividend payout ratio is currently 54.20%.

Institutional Investors Weigh In On Cheniere Energy Partners

Several institutional investors have recently added to or reduced their stakes in CQP. Alps Advisors Inc. grew its position in Cheniere Energy Partners by 3.7% during the third quarter. Alps Advisors Inc. now owns 9,444,969 shares of the company's stock worth $574,821,000 after buying an additional 340,808 shares in the last quarter. NEOS Investment Management LLC increased its stake in Cheniere Energy Partners by 39.4% in the 2nd quarter. NEOS Investment Management LLC now owns 352,339 shares of the company's stock worth $21,475,000 after acquiring an additional 99,542 shares during the last quarter. Infrastructure Capital Advisors LLC raised its holdings in shares of Cheniere Energy Partners by 43.3% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 226,611 shares of the company's stock valued at $14,646,000 after acquiring an additional 68,436 shares in the last quarter. Abacus FCF Advisors LLC raised its holdings in shares of Cheniere Energy Partners by 161.2% in the 2nd quarter. Abacus FCF Advisors LLC now owns 195,939 shares of the company's stock valued at $11,942,000 after acquiring an additional 120,937 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Cheniere Energy Partners by 12.4% in the 1st quarter. Royal Bank of Canada now owns 45,659 shares of the company's stock valued at $2,951,000 after acquiring an additional 5,020 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 focused on the development, ownership and operation of liquefied natural gas (LNG) infrastructure. The partnership is sponsored by Cheniere Energy, Inc, a leading U.S. LNG company, through its ownership of Cheniere Energy Partners GP, LLC.

CQP's principal assets include the Sabine Pass LNG facility in Cameron Parish, Louisiana, and interests associated with the Corpus Christi LNG facility in Texas.

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