Wells Fargo & Company Cuts Cheniere Energy Partners (NYSE:CQP) Price Target to $54.00

Key Points

• Wells Fargo cut its price target on Cheniere Energy Partners from $56.00 to $54.00 and maintained an "underweight" rating, implying about a 16.9% downside from the prior close.
• Analyst sentiment has shifted lower overall — the consensus rating is "Reduce" with an average target of about $55.57 (1 Buy, 3 Hold, 5 Sell), as several firms trimmed price targets.
• Despite the downgrades, CQP posted a strong quarter (EPS $2.38 vs. $1.11 expected, revenue $2.91B, +18.3% YoY) and was trading near $64.97, well above most analyst targets.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its price target cut by stock analysts at Wells Fargo & Company from $56.00 to $54.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential downside of 16.88% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Bank of America dropped their price objective on Cheniere Energy Partners from $53.00 to $51.00 and set an "underperform" rating for the company in a report on Thursday, December 11th. Citigroup decreased their target price on Cheniere Energy Partners from $51.00 to $49.00 and set a "sell" rating for the company in a research report on Monday, January 12th. Weiss Ratings raised shares of Cheniere Energy Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 25th. Barclays upped 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. Finally, Morgan Stanley reduced their price target 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. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Cheniere Energy Partners has an average rating of "Reduce" and a consensus target price of $55.57.

Cheniere Energy Partners Trading Up 1.7%

NYSE CQP traded up $1.07 during trading on Friday, hitting $64.97. The stock had a trading volume of 83,431 shares, compared to its average volume of 92,130. 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 market capitalization of $31.45 billion, a price-to-earnings ratio of 12.57 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 stock has a 50 day simple moving average of $58.09 and a 200 day simple moving average of $54.95.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $2.38 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $1.05 EPS. The firm's quarterly revenue was up 18.3% on a year-over-year basis. Sell-side analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of Cheniere Energy Partners by 68.3% during the third quarter. Larson Financial Group LLC now owns 505 shares of the company's stock valued at $27,000 after buying an additional 205 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake 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 acquiring an additional 306 shares during the period. Caldwell Trust Co bought a new position in Cheniere Energy Partners during the 4th quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Cheniere Energy Partners during the 4th quarter valued at about $51,000. Finally, MAI Capital Management increased its position in Cheniere Energy Partners by 1,339.3% during the 2nd quarter. MAI Capital Management now owns 1,612 shares of the company's stock valued at $90,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 46.55% of the company's stock.

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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