Wells Fargo & Company Issues Pessimistic Forecast for Cheniere Energy Partners (NYSE:CQP) Stock Price

Key Points

• Wells Fargo & Company has reduced its target price for Cheniere Energy Partners' stock from $61.00 to $56.00, maintaining an "underweight" rating, which suggests a potential upside of only 6.22% from the current price.
• Other brokerages, such as Barclays and JPMorgan Chase, have also issued underweight ratings with price targets ranging from $54.00 to $58.00, indicating a generally pessimistic outlook for the stock.
• Cheniere Energy Partners reported an earnings miss with EPS of $0.91 for the last quarter, which was below analysts' expectations, despite a revenue increase of 29.6% year-over-year.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) had its target price decreased by equities researchers at Wells Fargo & Company from $61.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 6.22% from the stock's current price.

Several other brokerages also recently issued reports on CQP. Barclays raised their price target on Cheniere Energy Partners from $54.00 to $56.00 and gave the company an "underweight" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on Cheniere Energy Partners from $56.00 to $58.00 and gave the company an "underweight" rating in a research report on Monday, April 28th. Finally, Bank of America increased their price objective on Cheniere Energy Partners from $50.00 to $53.00 and gave the company an "underperform" rating in a research report on Wednesday, June 25th. Five equities research analysts have rated the stock with a sell rating, Based on data from MarketBeat.com, Cheniere Energy Partners has an average rating of "Reduce" and an average price target of $54.80.

Cheniere Energy Partners Stock Performance

NYSE:CQP opened at $52.72 on Tuesday. The stock's 50 day moving average price is $55.90 and its 200 day moving average price is $59.32. Cheniere Energy Partners has a 52 week low of $47.00 and a 52 week high of $68.42. The company has a market capitalization of $25.52 billion, a P/E ratio of 12.80 and a beta of 0.44.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($0.05). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.21 billion. Cheniere Energy Partners had a negative return on equity of 503.86% and a net margin of 24.62%. The firm's quarterly revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. lifted its position in Cheniere Energy Partners by 16.6% in the first quarter. Alps Advisors Inc. now owns 9,019,585 shares of the company's stock worth $595,653,000 after purchasing an additional 1,283,564 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cheniere Energy Partners by 24.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,953,675 shares of the company's stock worth $195,061,000 after purchasing an additional 575,788 shares during the period. Tortoise Capital Advisors L.L.C. lifted its position in Cheniere Energy Partners by 6.9% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 712,703 shares of the company's stock worth $47,067,000 after purchasing an additional 45,870 shares during the period. Invesco Ltd. lifted its position in Cheniere Energy Partners by 1.7% in the fourth quarter. Invesco Ltd. now owns 269,671 shares of the company's stock worth $14,325,000 after purchasing an additional 4,383 shares during the period. Finally, McGowan Group Asset Management Inc. lifted its position in Cheniere Energy Partners by 0.3% in the fourth quarter. McGowan Group Asset Management Inc. now owns 239,305 shares of the company's stock worth $12,712,000 after purchasing an additional 735 shares during the period. 46.55% of the stock is owned by institutional investors.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P., through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies worldwide. The company owns and operates natural gas liquefaction and export facility at the Sabine Pass LNG Terminal located in Cameron Parish, Louisiana.

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