Cheniere Energy Partners (NYSE:CQP) Announces Earnings Results, Beats Estimates By $1.13 EPS

Cheniere Energy Partners (NYSE:CQP) announced its earnings results on Wednesday. The company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.01 by $1.13, FiscalAI reports. The business had revenue of $2.58 billion during the quarter. Cheniere Energy Partners had a negative return on equity of 4,929.80% and a net margin of 22.27%.The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share.

Cheniere Energy Partners Trading Up 3.1%

Cheniere Energy Partners stock traded up $1.98 during midday trading on Thursday, hitting $66.11. 185,815 shares of the stock were exchanged, compared to its average volume of 100,147. The company has a current ratio of 0.42, a quick ratio of 0.37 and a debt-to-equity ratio of 161.69. The stock’s 50-day simple moving average is $62.87 and its 200 day simple moving average is $62.28. Cheniere Energy Partners has a fifty-two week low of $49.53 and a fifty-two week high of $70.64. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 15.45 and a beta of 0.31.

Cheniere Energy Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be given a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, August 7th. Cheniere Energy Partners’s dividend payout ratio (DPR) is presently 72.43%.

Institutional Trading of Cheniere Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Cheniere Energy Partners by 68.3% in the third quarter. Larson Financial Group LLC now owns 505 shares of the company’s stock valued at $27,000 after acquiring an additional 205 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cheniere Energy Partners by 180.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock valued at $27,000 after purchasing an additional 306 shares during the last quarter. Caldwell Trust Co purchased a new position in shares of Cheniere Energy Partners during the 4th quarter worth $29,000. First Pacific Financial acquired a new stake in shares of Cheniere Energy Partners during the 1st quarter worth about $32,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Cheniere Energy Partners in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Cheniere Energy Partners from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Finally, Barclays boosted their price objective on Cheniere Energy Partners from $60.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $61.00.

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.