Wells Fargo & Company Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Cheniere Energy Partners (NYSE:CQP - Free Report) had its price objective lifted by Wells Fargo & Company from $49.00 to $55.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Separately, Bank of America initiated coverage on Cheniere Energy Partners in a report on Thursday, October 17th. They issued an "underperform" rating and a $46.00 target price for the company.

Cheniere Energy Partners Price Performance

NYSE CQP traded down $2.26 during trading on Wednesday, hitting $52.49. 156,337 shares of the company traded hands, compared to its average volume of 161,976. Cheniere Energy Partners has a 12 month low of $45.51 and a 12 month high of $59.40. The business's fifty day simple moving average is $53.04. The company has a market cap of $25.41 billion, a P/E ratio of 11.34 and a beta of 0.73.

Cheniere Energy Partners (NYSE:CQP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.08). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. The company's revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. On average, equities research analysts predict that Cheniere Energy Partners will post 4.29 EPS for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Monday, November 4th. Cheniere Energy Partners's dividend payout ratio (DPR) is currently 66.95%.

Hedge Funds Weigh In On Cheniere Energy Partners

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp acquired a new stake in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $416,000. Empowered Funds LLC grew its holdings in Cheniere Energy Partners by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 31,514 shares of the company's stock worth $1,535,000 after acquiring an additional 1,043 shares during the period. BIP Wealth LLC bought a new stake in shares of Cheniere Energy Partners during the 3rd quarter valued at $244,000. Larson Financial Group LLC acquired a new position in shares of Cheniere Energy Partners in the 3rd quarter valued at $146,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Cheniere Energy Partners in the 3rd quarter worth $866,000. 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.