Zacks: Cheniere Energy Partners LP (CQP) Receives Average Rating of “Buy” from Brokerages
Cheniere Energy Partners LP (NYSE:CQP) has been given an average broker rating score of 1.69 (Buy) from the eight brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and four have assigned a strong buy recommendation to the company. Cheniere Energy Partners’ rating score has improved by 7.7% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus price objective of $35.00 for the company and are anticipating that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also given Cheniere Energy Partners an industry rank of 44 out of 265 based on the ratings given to related companies.
Several research firms have weighed in on CQP. Barclays PLC reaffirmed an “overweight” rating and issued a $32.00 target price (down from $36.00) on shares of Cheniere Energy Partners in a research report on Tuesday, September 6th. Wolfe Research began coverage on Cheniere Energy Partners in a research report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Credit Suisse Group AG began coverage on Cheniere Energy Partners in a research report on Wednesday, October 12th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, US Capital Advisors raised Cheniere Energy Partners to a “buy” rating in a research report on Thursday, September 8th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Spirit of America Management Corp NY raised its position in shares of Cheniere Energy Partners by 1.9% in the third quarter. Spirit of America Management Corp NY now owns 338,661 shares of the company’s stock worth $9,910,000 after buying an additional 6,400 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Cheniere Energy Partners by 9.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 120,000 shares of the company’s stock worth $3,511,000 after buying an additional 10,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Cheniere Energy Partners by 3.3% in the third quarter. BNP Paribas Arbitrage SA now owns 164,682 shares of the company’s stock worth $4,819,000 after buying an additional 5,336 shares in the last quarter.
Cheniere Energy Partners (NYSE:CQP) opened at 29.21 on Friday. The company has a 50 day moving average of $28.15 and a 200 day moving average of $28.51. The stock’s market capitalization is $9.87 billion. Cheniere Energy Partners has a 12 month low of $19.22 and a 12 month high of $31.49.
Cheniere Energy Partners (NYSE:CQP) last released its earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.17. The firm earned $176.03 million during the quarter, compared to analyst estimates of $145.50 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that Cheniere Energy Partners will post $0.08 EPS for the current year.
Cheniere Energy Partners Company Profile
Cheniere Energy Partners, L.P. is a limited partnership formed by Cheniere Energy, Inc The Company operates in LNG terminal business segment. Through its subsidiary, Sabine Pass LNG, L.P. (SPLNG), the Company owns and operates the regasification facilities at the Sabine Pass LNG terminal located on the Sabine-Neches Waterway approximately four miles from the Gulf Coast.
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