Granite Group Advisors LLC Has $262,000 Stock Position in Cheniere Energy Partners (NYSE:CQP)

Granite Group Advisors LLC cut its holdings in Cheniere Energy Partners (NYSE:CQP) by 5.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,928 shares of the company’s stock after selling 257 shares during the period. Granite Group Advisors LLC’s holdings in Cheniere Energy Partners were worth $262,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CQP. Blankinship & Foster LLC bought a new position in shares of Cheniere Energy Partners in the third quarter worth about $424,000. JPMorgan Chase & Co. grew its stake in shares of Cheniere Energy Partners by 21.9% during the third quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock worth $37,264,000 after buying an additional 137,477 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Cheniere Energy Partners in the 3rd quarter valued at $866,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Cheniere Energy Partners during the 3rd quarter valued at $1,286,000. Finally, M&T Bank Corp bought a new stake in Cheniere Energy Partners during the 3rd quarter worth $587,000. 46.55% of the stock is owned by institutional investors.

Cheniere Energy Partners Stock Performance

CQP opened at $61.91 on Monday. Cheniere Energy Partners has a 12-month low of $45.51 and a 12-month high of $63.01. The business has a fifty day moving average price of $56.50. The company has a market capitalization of $29.97 billion, a P/E ratio of 13.37 and a beta of 0.75.

Cheniere Energy Partners (NYSE:CQP) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Cheniere Energy Partners will post 4.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CQP has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Barclays raised their price objective on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, Bank of America began coverage on shares of Cheniere Energy Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $46.00 price target on the stock.

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.