Royal Bank Of Canada Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Key Points

• Royal Bank of Canada raised its price target on Cheniere Energy Partners from $58 to $62 and maintained a "sector perform" rating, but the stock's consensus remains a "Strong Sell" with a MarketBeat average target of $55.86 and six analysts issuing sell ratings.
• Cheniere posted a strong quarter, reporting $2.38 EPS vs. $1.11 expected and $2.91 billion in revenue (up 18.3% year‑over‑year); the shares trade near $64 with a market cap of about $30.98 billion and a P/E of 12.38.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price target raised by analysts at Royal Bank Of Canada from $58.00 to $62.00 in a report released on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential downside of 3.13% from the company's previous close.

A number of other equities analysts also recently issued reports on CQP. Morgan Stanley dropped their price objective on shares of Cheniere Energy Partners from $71.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 24th. Barclays boosted their price target on Cheniere Energy Partners from $55.00 to $60.00 and gave the stock an "underweight" rating in a research report on Friday, February 27th. Weiss Ratings upgraded Cheniere Energy Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 25th. Zacks Research lowered shares of Cheniere Energy Partners from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 5th. Finally, Bank of America reduced their price objective on shares of Cheniere Energy Partners from $53.00 to $51.00 and set an "underperform" rating for the company in a research note on Thursday, December 11th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Strong Sell" and a consensus target price of $55.86.

Cheniere Energy Partners Trading Down 0.2%

NYSE:CQP traded down $0.11 during midday trading on Friday, hitting $64.00. The stock had a trading volume of 15,235 shares, compared to its average volume of 90,469. The stock has a 50-day moving average of $57.08 and a 200 day moving average of $54.62. The company has a market capitalization of $30.98 billion, a price-to-earnings ratio of 12.38 and a beta of 0.40. Cheniere Energy Partners has a one year low of $49.53 and a one year high of $68.42. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 34.21.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate 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 during the quarter. During the same quarter in the prior year, the company posted $1.05 earnings per share. Cheniere Energy Partners's quarterly revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cheniere Energy Partners will post 4.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. purchased a new stake in Cheniere Energy Partners during the 3rd quarter valued at about $1,130,000. Alps Advisors Inc. boosted its position in Cheniere Energy Partners by 2.3% in the third quarter. Alps Advisors Inc. now owns 9,001,996 shares of the company's stock valued at $484,487,000 after buying an additional 206,306 shares during the last quarter. Disciplined Investors L.L.C. increased its holdings in Cheniere Energy Partners by 174.0% in the 2nd quarter. Disciplined Investors L.L.C. now owns 8,446 shares of the company's stock worth $473,000 after buying an additional 5,364 shares during the period. Mediolanum International Funds Ltd raised its position in Cheniere Energy Partners by 67.7% during the 2nd quarter. Mediolanum International Funds Ltd now owns 31,037 shares of the company's stock worth $1,740,000 after buying an additional 12,526 shares during the last quarter. Finally, Energy Income Partners LLC lifted its stake in Cheniere Energy Partners by 4.3% during the 2nd quarter. Energy Income Partners LLC now owns 1,016,265 shares of the company's stock valued at $56,962,000 after acquiring an additional 41,707 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.

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