Cheniere Energy Partners LP (NYSE:CQP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, July 25th.
According to Zacks, “CHENIERE ENERGY PARTNERS, L.P. is a Delaware limited partnership recently formed by Cheniere Energy, Inc. through its wholly owned subsidiary, Sabine Pass LNG, L.P. CEP will develop, own and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel. CEP’s primary business objectives are to complete construction of the Sabine Pass LNG receiving terminal and, thereafter, to generate stable cash flows sufficient to pay the initial quarterly distribution to the unitholders and, over time, to increase their quarterly cash distribution. “
Several other analysts have also weighed in on the company. Scotiabank set a $34.00 price objective on Cheniere Energy Partners and gave the stock a “hold” rating in a report on Saturday, July 22nd. Barclays PLC downgraded Cheniere Energy Partners from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research report on Tuesday, July 18th. Morgan Stanley downgraded Cheniere Energy Partners from an “overweight” rating to an “equal weight” rating and set a $33.00 price objective for the company. in a research report on Tuesday, June 13th. Sanford C. Bernstein assumed coverage on Cheniere Energy Partners in a research report on Tuesday, May 16th. They issued a “positive” rating and a $38.00 price objective for the company. Finally, TheStreet downgraded Cheniere Energy Partners from a “b-” rating to a “c+” rating in a research report on Friday, May 5th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $35.00.
Cheniere Energy Partners (NYSE:CQP) traded up 0.78% during midday trading on Tuesday, hitting $28.51. The company had a trading volume of 163,700 shares. The company’s 50 day moving average is $30.55 and its 200-day moving average is $31.43. The company’s market cap is $9.63 billion. Cheniere Energy Partners has a one year low of $25.97 and a one year high of $33.47.
Cheniere Energy Partners (NYSE:CQP) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($3.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $4.19. Cheniere Energy Partners had a return on equity of 42.56% and a net margin of 5.27%. The firm had revenue of $992 million for the quarter, compared to analyst estimates of $771.91 million. On average, equities analysts predict that Cheniere Energy Partners will post $2.11 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new position in shares of Cheniere Energy Partners during the first quarter valued at about $185,000. Investment House LLC purchased a new stake in Cheniere Energy Partners during the first quarter valued at approximately $217,000. Virtu KCG Holdings LLC purchased a new stake in Cheniere Energy Partners during the second quarter valued at approximately $225,000. Advisor Group Inc. boosted its stake in Cheniere Energy Partners by 1.6% in the second quarter. Advisor Group Inc. now owns 9,228 shares of the company’s stock valued at $299,000 after buying an additional 149 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Cheniere Energy Partners by 0.7% in the second quarter. Janney Montgomery Scott LLC now owns 9,256 shares of the company’s stock valued at $300,000 after buying an additional 63 shares during the period.
About Cheniere Energy Partners
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.
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