Cheniere Energy Partners (NYSE:CQP) Increases Dividend to $0.78 Per Share

Cheniere Energy Partners (NYSE:CQP) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.775 per share on Friday, February 14th. This represents a $3.10 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Monday, February 10th. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04.

Cheniere Energy Partners Stock Performance

NYSE:CQP traded up $0.37 on Thursday, hitting $61.95. The stock had a trading volume of 259,728 shares, compared to its average volume of 193,117. Cheniere Energy Partners has a 52 week low of $45.51 and a 52 week high of $63.01. The company’s fifty day moving average price is $56.95. The company has a market cap of $29.99 billion, a P/E ratio of 13.38 and a beta of 0.75.

Cheniere Energy Partners (NYSE:CQP) last posted its quarterly earnings results 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). Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business posted $0.84 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts anticipate that Cheniere Energy Partners will post 4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CQP shares. Barclays boosted their target price on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Bank of America initiated coverage on Cheniere Energy Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th.

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.