Cheniere Energy Partners (NYSE:CQP) Shares Down 5% – Here’s What Happened

Cheniere Energy Partners, L.P. (NYSE:CQP)’s stock price dropped 5% during trading on Friday . The stock traded as low as $62.64 and last traded at $62.3750. Approximately 51,342 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 105,630 shares. The stock had previously closed at $65.69.

Analyst Upgrades and Downgrades

CQP has been the topic of several recent analyst reports. Weiss Ratings lowered Cheniere Energy Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 5th. Citigroup increased their target price on Cheniere Energy Partners from $49.00 to $55.00 and gave the company a “sell” rating in a report on Thursday, April 2nd. Zacks Research raised Cheniere Energy Partners from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Royal Bank Of Canada raised their price objective on Cheniere Energy Partners from $58.00 to $62.00 and gave the stock a “sector perform” rating in a report on Friday, March 6th. Finally, JPMorgan Chase & Co. raised their price objective on Cheniere Energy Partners from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Friday, March 27th. Four investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $60.43.

Cheniere Energy Partners Stock Performance

The firm has a fifty day simple moving average of $63.42 and a 200-day simple moving average of $59.84. The company has a market cap of $30.40 billion, a PE ratio of 14.67 and a beta of 0.32. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 161.69.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($1.03). The firm had revenue of $3.60 billion for the quarter. Cheniere Energy Partners had a negative return on equity of 4,929.80% and a net margin of 22.27%.The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 earnings per share. On average, research analysts forecast that Cheniere Energy Partners, L.P. will post 4.19 EPS for the current fiscal year.

Cheniere Energy Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.775 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.9%. Cheniere Energy Partners’s dividend payout ratio (DPR) is currently 72.43%.

Hedge Funds Weigh In On Cheniere Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cheniere Energy Partners by 180.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock worth $27,000 after buying an additional 306 shares during the last quarter. First Pacific Financial purchased a new position in shares of Cheniere Energy Partners during the first quarter worth about $32,000. Larson Financial Group LLC grew its holdings in shares of Cheniere Energy Partners by 68.3% during the third quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock worth $27,000 after buying an additional 205 shares during the last quarter. Caldwell Trust Co purchased a new position in shares of Cheniere Energy Partners during the fourth quarter worth about $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Cheniere Energy Partners during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P. (NYSE: CQP) is a publicly traded master limited partnership that owns and operates liquefied natural gas (LNG) infrastructure in the United States. The partnership’s business centers on the development, ownership and operation of LNG facilities and associated pipeline assets that enable the liquefaction, storage and delivery of natural gas for export and domestic use. CQP’s assets are focused on large-scale midstream energy infrastructure intended to serve global natural gas markets.

The company’s core activities include LNG liquefaction and storage, terminal services, and pipeline transportation.