Spirit of America Management Corp NY Cuts Stock Position in Cheniere Energy Partners (NYSE:CQP)

Spirit of America Management Corp NY lessened its stake in shares of Cheniere Energy Partners (NYSE:CQP) by 64.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,993 shares of the company’s stock after selling 5,500 shares during the period. Spirit of America Management Corp NY’s holdings in Cheniere Energy Partners were worth $159,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Cheniere Energy Partners by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock worth $37,264,000 after purchasing an additional 137,477 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in Cheniere Energy Partners by 59.4% in the fourth quarter. Mediolanum International Funds Ltd now owns 96,491 shares of the company’s stock worth $5,126,000 after buying an additional 35,954 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Cheniere Energy Partners in the third quarter worth approximately $1,286,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Cheniere Energy Partners during the third quarter valued at approximately $866,000. Finally, M&T Bank Corp bought a new stake in shares of Cheniere Energy Partners during the third quarter valued at approximately $587,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Stock Performance

NYSE:CQP opened at $64.70 on Thursday. Cheniere Energy Partners has a 12 month low of $45.51 and a 12 month high of $66.47. The company has a market cap of $31.32 billion, a P/E ratio of 13.97 and a beta of 0.76. The stock has a 50 day moving average of $57.77.

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 paid a dividend of $0.775 per share. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Monday, February 10th. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Analyst Ratings Changes

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

Cheniere Energy Partners 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.