Cheniere Energy Partners (NYSE:CQP) Reaches New 1-Year High - Here's What Happened

Cheniere Energy Partners (NYSE:CQP - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $66.47 and last traded at $64.31, with a volume of 358609 shares trading hands. The stock had previously closed at $65.17.

Analysts Set New Price Targets

Several research firms have recently issued reports on CQP. Bank of America began coverage on Cheniere Energy Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $46.00 price objective for the company. Wells Fargo & Company upped their price target on Cheniere Energy Partners from $49.00 to $55.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. Finally, Barclays raised their price objective on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th.

Cheniere Energy Partners Stock Performance

The company has a fifty day moving average price of $57.94. The stock has a market capitalization of $30.00 billion, a P/E ratio of 13.39 and a beta of 0.76.

Cheniere Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 10th will be given a dividend of $0.775 per share. This is a positive change from Cheniere Energy Partners's previous quarterly dividend of $0.04. The ex-dividend date is Monday, February 10th. This represents a $3.10 annualized dividend and a yield of 5.00%. Cheniere Energy Partners's payout ratio is 66.95%.

Hedge Funds Weigh In On Cheniere Energy Partners

A number of hedge funds have recently modified their holdings of the business. Valley National Advisers Inc. increased its position in Cheniere Energy Partners by 30.1% in the 4th quarter. Valley National Advisers Inc. now owns 1,341 shares of the company's stock valued at $71,000 after acquiring an additional 310 shares during the period. IFP Advisors Inc increased its holdings in shares of Cheniere Energy Partners by 53.7% in the fourth quarter. IFP Advisors Inc now owns 1,825 shares of the company's stock valued at $97,000 after purchasing an additional 638 shares during the period. Millburn Ridgefield Corp acquired a new position in Cheniere Energy Partners in the 3rd quarter valued at $116,000. Geneos Wealth Management Inc. raised its holdings in Cheniere Energy Partners by 64.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company's stock worth $135,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $146,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Cheniere Energy Partners Company Profile

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.