Barclays Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Cheniere Energy Partners (NYSE:CQP) had its price objective increased by investment analysts at Barclays from $46.00 to $54.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 13.02% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Bank of America initiated coverage on shares of Cheniere Energy Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price target on the stock. Wells Fargo & Company increased their target price on Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th.

Cheniere Energy Partners Trading Up 0.3 %

Cheniere Energy Partners stock opened at $62.09 on Thursday. Cheniere Energy Partners has a fifty-two week low of $45.51 and a fifty-two week high of $62.50. The company has a market capitalization of $30.05 billion, a PE ratio of 13.41 and a beta of 0.75. The stock has a fifty day moving average price of $55.47.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.08). The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts forecast that Cheniere Energy Partners will post 4.32 EPS for the current year.

Institutional Investors Weigh In On Cheniere Energy Partners

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Cheniere Energy Partners by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock valued at $37,264,000 after acquiring an additional 137,477 shares during the period. Fred Alger Management LLC increased its stake in Cheniere Energy Partners by 12.7% in the 3rd quarter. Fred Alger Management LLC now owns 52,962 shares of the company’s stock worth $2,580,000 after purchasing an additional 5,969 shares during the period. Empowered Funds LLC lifted its position in Cheniere Energy Partners by 3.4% in the third quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock valued at $1,535,000 after purchasing an additional 1,043 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Cheniere Energy Partners during the third quarter valued at approximately $1,286,000. Finally, Montchanin Asset Management LLC grew its holdings in shares of Cheniere Energy Partners by 2.6% in the third quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock worth $951,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 46.55% of the company’s stock.

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.