Cheniere Energy Partners (CQP) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Cheniere Energy Partners (NYSEAMERICAN:CQP) from a buy rating to a hold rating in a research note issued to investors 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. “
A number of other analysts have also recently commented on the stock. Scotiabank set a $41.00 price objective on shares of Cheniere Energy Partners and gave the company a hold rating in a research report on Monday, August 20th. Wells Fargo & Co set a $45.00 price objective on shares of Cheniere Energy Partners and gave the company an outperform rating in a research report on Monday, August 13th. They noted that the move was a valuation call. Stifel Nicolaus upped their price objective on shares of Cheniere Energy Partners from $32.00 to $35.00 and gave the company a hold rating in a research report on Friday, August 10th. US Capital Advisors cut shares of Cheniere Energy Partners to a hold rating and upped their price objective for the company from $35.00 to $40.00 in a research report on Friday, August 24th. Finally, Barclays set a $38.00 price objective on shares of Cheniere Energy Partners and gave the company a hold rating in a research report on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $38.00.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last issued its earnings results on Thursday, August 9th. The energy company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. Cheniere Energy Partners had a net margin of 24.64% and a return on equity of 266.18%.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Monday, August 6th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date was Friday, August 3rd. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.43.
A number of hedge funds have recently added to or reduced their stakes in CQP. Alps Advisors Inc. increased its holdings in Cheniere Energy Partners by 20,887.1% during the 2nd quarter. Alps Advisors Inc. now owns 3,400,113 shares of the energy company’s stock worth $122,234,000 after purchasing an additional 3,383,912 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Cheniere Energy Partners by 52.4% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,428,991 shares of the energy company’s stock worth $87,310,000 after purchasing an additional 835,550 shares in the last quarter. UBS Group AG increased its holdings in Cheniere Energy Partners by 202.2% during the 1st quarter. UBS Group AG now owns 773,161 shares of the energy company’s stock worth $22,499,000 after purchasing an additional 517,337 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Cheniere Energy Partners by 234.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 316,560 shares of the energy company’s stock worth $2,780,000 after purchasing an additional 222,042 shares in the last quarter. Finally, BlackRock Inc. bought a new position in Cheniere Energy Partners during the 1st quarter worth about $6,099,000.
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 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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