Cheniere Energy Partners (CQP) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cheniere Energy Partners (NYSEAMERICAN:CQP) from a strong sell rating to a hold rating in a report released on Monday morning.

According to Zacks, “CHENIERE ENERGY PARTNERS, L.P. is a Delaware limited partnership recently formed by Cheniere Energy, Inc. through its wholly owned subsidiary, Sabine Pass LNG, L.P. CEP will develop, own and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel. CEP’s primary business objectives are to complete construction of the Sabine Pass LNG receiving terminal and, thereafter, to generate stable cash flows sufficient to pay the initial quarterly distribution to the unitholders and, over time, to increase their quarterly cash distribution. “

Several other analysts have also commented on CQP. BMO Capital Markets started coverage on Cheniere Energy Partners in a report on Monday, September 25th. They set an outperform rating and a $32.00 target price on the stock. Royal Bank of Canada dropped their target price on Cheniere Energy Partners from $35.00 to $32.00 and set an outperform rating on the stock in a report on Monday, October 16th. BidaskClub raised Cheniere Energy Partners from a strong sell rating to a sell rating in a report on Tuesday, November 7th. Finally, Stifel Nicolaus started coverage on Cheniere Energy Partners in a report on Thursday, January 4th. They set a hold rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $33.63.

Shares of Cheniere Energy Partners (NYSEAMERICAN CQP) remained flat at $$29.94 during trading hours on Monday. The stock had a trading volume of 106,300 shares, compared to its average volume of 137,157. Cheniere Energy Partners has a 52-week low of $26.41 and a 52-week high of $33.47. The stock has a market capitalization of $14,370.00, a PE ratio of 51.62 and a beta of 0.97.

Cheniere Energy Partners (NYSEAMERICAN:CQP) last announced its quarterly earnings data on Tuesday, November 14th. The energy company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($1.56). Cheniere Energy Partners had a return on equity of 19.48% and a net margin of 2.55%. The firm had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $1.14 billion.

In other Cheniere Energy Partners news, Director Jamie Welch acquired 8,654 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were bought at an average cost of $27.50 per share, with a total value of $237,985.00. Following the completion of the acquisition, the director now owns 8,654 shares in the company, valued at $237,985. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Group L.P. Blackstone acquired 116,223 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was acquired at an average cost of $27.97 per share, for a total transaction of $3,250,757.31. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 838,701 shares of company stock worth $24,581,185.

Several large investors have recently modified their holdings of the company. Blackstone Group L.P. boosted its stake in shares of Cheniere Energy Partners by 5,731.3% in the third quarter. Blackstone Group L.P. now owns 202,450,687 shares of the energy company’s stock worth $5,834,629,000 after acquiring an additional 198,978,886 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Cheniere Energy Partners by 7.7% in the third quarter. Jane Street Group LLC now owns 55,075 shares of the energy company’s stock worth $1,587,000 after acquiring an additional 3,953 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Cheniere Energy Partners by 18.1% in the third quarter. California Public Employees Retirement System now owns 38,734 shares of the energy company’s stock worth $1,116,000 after acquiring an additional 5,934 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in shares of Cheniere Energy Partners by 45.0% in the third quarter. First Allied Advisory Services Inc. now owns 26,309 shares of the energy company’s stock worth $759,000 after acquiring an additional 8,160 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Cheniere Energy Partners in the third quarter worth approximately $331,000.

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About Cheniere Energy Partners

Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.

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