Cheniere Energy Partners (NYSE:CQP) Hits New 52-Week High – Should You Buy?

Cheniere Energy Partners (NYSE:CQP) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.47 and last traded at $64.31, with a volume of 358609 shares changing hands. The stock had previously closed at $65.17.

Wall Street Analyst Weigh In

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

Cheniere Energy Partners Price Performance

The company has a market cap of $31.13 billion, a PE ratio of 13.89 and a beta of 0.76. The firm’s 50-day simple moving average is $57.62.

Cheniere Energy Partners Increases Dividend

The company also recently disclosed 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 represents a $3.10 dividend on an annualized basis and a yield of 4.82%. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, February 10th. Cheniere Energy Partners’s dividend payout ratio is presently 66.95%.

Hedge Funds Weigh In On Cheniere Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in Cheniere Energy Partners in the fourth quarter valued at approximately $876,000. IFP Advisors Inc increased its stake in shares of Cheniere Energy Partners by 53.7% in the 4th 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 last quarter. Sigma Planning Corp raised its holdings in shares of Cheniere Energy Partners by 4.9% during the 4th quarter. Sigma Planning Corp now owns 5,161 shares of the company’s stock worth $274,000 after buying an additional 243 shares in the last quarter. Corps Capital Advisors LLC bought a new stake in shares of Cheniere Energy Partners during the 4th quarter worth $499,000. Finally, Davidson Trust Co. acquired a new stake in Cheniere Energy Partners in the fourth quarter valued at about $212,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.