Cheniere Energy Partners (NYSEAMERICAN:CQP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $39.00 target price on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.49% from the company’s current price.
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. “
Other equities research analysts have also issued reports about the stock. Barclays raised shares of Cheniere Energy Partners from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a report on Tuesday, March 24th. TheStreet raised shares of Cheniere Energy Partners from a “c+” rating to a “b” rating in a report on Thursday, June 11th. BMO Capital Markets lowered shares of Cheniere Energy Partners from a “market perform” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 9th. Stifel Nicolaus lowered their price target on shares of Cheniere Energy Partners from $42.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Cheniere Energy Partners from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.32.
NYSEAMERICAN:CQP traded up $0.44 during trading hours on Tuesday, reaching $34.98. The company’s stock had a trading volume of 274,874 shares, compared to its average volume of 443,326. Cheniere Energy Partners has a 12 month low of $17.75 and a 12 month high of $49.30.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last released its quarterly earnings results on Thursday, April 30th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.19. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC grew its stake in shares of Cheniere Energy Partners by 2.4% in the 1st quarter. Guggenheim Capital LLC now owns 16,781 shares of the energy company’s stock valued at $453,000 after buying an additional 393 shares during the period. Advisor Group Holdings Inc. acquired a new stake in Cheniere Energy Partners during the 1st quarter worth approximately $1,024,000. Blackstone Group Inc raised its holdings in shares of Cheniere Energy Partners by 1.1% in the 1st quarter. Blackstone Group Inc now owns 205,611,384 shares of the energy company’s stock valued at $5,553,564,000 after purchasing an additional 2,250,419 shares in the last quarter. Barings LLC raised its holdings in shares of Cheniere Energy Partners by 23.7% in the 1st quarter. Barings LLC now owns 143,218 shares of the energy company’s stock valued at $3,868,000 after purchasing an additional 27,400 shares in the last quarter. Finally, Harvest Fund Advisors LLC acquired a new stake in Cheniere Energy Partners during the 1st quarter worth $8,795,000.
About Cheniere Energy Partners
Cheniere Energy Partners, L.P., through its subsidiaries, owns and operates regasification facilities at the Sabine Pass liquefied natural gas (LNG) terminal located in Cameron Parish, Louisiana on the Sabine-Neches Waterway. The company's regasification facilities include infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion cubic feet equivalent; two marine berths that accommodate vessels of up to 266,000 cubic meters; and vaporizers with regasification capacity of approximately 4.0 billion cubic feet per day.
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