Cheniere Energy Partners (NYSE:CQP) Shares Gap Up – Here’s Why

Cheniere Energy Partners (NYSE:CQP)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $59.57, but opened at $61.37. Cheniere Energy Partners shares last traded at $61.02, with a volume of 5,522 shares.

Wall Street Analyst Weigh In

CQP has been the topic of a number of recent analyst reports. Stifel Nicolaus cut shares of Cheniere Energy Partners from a “hold” rating to a “sell” rating and raised their price target for the company from $50.00 to $51.00 in a report on Friday, February 21st. Barclays raised their target price 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, Wells Fargo & Company upped their price target on Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th.

Cheniere Energy Partners Price Performance

The firm’s 50-day moving average is $62.44. The company has a market capitalization of $29.58 billion, a PE ratio of 14.34 and a beta of 0.57.

Cheniere Energy Partners (NYSE:CQP) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Cheniere Energy Partners had a negative return on equity of 325.95% and a net margin of 28.84%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, equities research analysts predict that Cheniere Energy Partners will post 4.14 earnings per share for the current fiscal year.

Cheniere Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were paid a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 5.07%. The ex-dividend date was Monday, February 10th. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. Cheniere Energy Partners’s payout ratio is presently 72.77%.

Institutional Investors Weigh In On Cheniere Energy Partners

A number of institutional investors and hedge funds have recently modified their holdings of CQP. M&T Bank Corp purchased a new position in Cheniere Energy Partners during the 3rd quarter worth approximately $587,000. Blankinship & Foster LLC acquired a new stake in shares of Cheniere Energy Partners in the third quarter worth $424,000. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 137,477 shares during the last quarter. Charles Schwab Trust Co acquired a new position in Cheniere Energy Partners during the fourth quarter valued at $212,000. Finally, Geneos Wealth Management Inc. lifted its position in Cheniere Energy Partners by 64.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock valued at $135,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s 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.