Zacks Investment Research Downgrades Cheniere Energy Partners LP (CQP) to Hold

Cheniere Energy Partners LP (ARCA:CQP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

Several other equities analysts have also issued reports on the stock. Wells Fargo & Co initiated coverage on shares of Cheniere Energy Partners in a report on Wednesday, February 8th. They set an “outperform” rating on the stock. Howard Weil lowered shares of Cheniere Energy Partners from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $33.00 to $35.00 in a report on Thursday, December 15th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.17.

Analyst Recommendations for Cheniere Energy Partners (ARCA:CQP)

Cheniere Energy Partners (ARCA:CQP) opened at 30.93 on Friday. The company’s market capitalization is $10.45 billion. Cheniere Energy Partners has a 52-week low of $25.87 and a 52-week high of $33.33. The company has a 50-day moving average price of $31.54 and a 200 day moving average price of $29.14.

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A number of institutional investors have recently modified their holdings of CQP. Infrastructure Capital Advisors LLC acquired a new position in shares of Cheniere Energy Partners during the fourth quarter valued at about $345,000. Moloney Securities Asset Management LLC purchased a new position in Cheniere Energy Partners during the fourth quarter valued at about $268,000. Raymond James Financial Services Advisors Inc. raised its position in Cheniere Energy Partners by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,558 shares of the company’s stock valued at $996,000 after buying an additional 990 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Cheniere Energy Partners by 3.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,637 shares of the company’s stock valued at $194,000 after buying an additional 250 shares in the last quarter. 7.63% of the stock is currently owned by institutional investors.

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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