Zacks Investment Research upgraded shares of Cheniere Energy Partners (NYSEAMERICAN:CQP) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $38.00 price objective on the energy company’s stock.
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. “
Other research analysts also recently issued reports about the company. Stifel Nicolaus upped their price target on Cheniere Energy Partners from $32.00 to $35.00 and gave the company a hold rating in a report on Friday, August 10th. Scotiabank set a $41.00 price target on Cheniere Energy Partners and gave the company a hold rating in a report on Monday, August 20th. Morgan Stanley set a $39.00 price target on Cheniere Energy Partners and gave the company a hold rating in a report on Wednesday, September 26th. Goldman Sachs Group initiated coverage on Cheniere Energy Partners in a report on Monday, October 8th. They set a neutral rating and a $41.00 price target on the stock. Finally, US Capital Advisors downgraded Cheniere Energy Partners to a hold rating and upped their price target for the company from $35.00 to $40.00 in a report on Friday, August 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Cheniere Energy Partners has a consensus rating of Hold and an average price target of $39.56.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last released its earnings results on Thursday, August 9th. The energy company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be issued a $0.58 dividend. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, November 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 7.02%.
A number of hedge funds have recently bought and sold shares of the business. IFP Advisors Inc purchased a new stake in Cheniere Energy Partners in the third quarter worth about $100,000. Winslow Evans & Crocker Inc. purchased a new stake in Cheniere Energy Partners in the third quarter worth about $108,000. Private Advisor Group LLC purchased a new stake in Cheniere Energy Partners in the second quarter worth about $204,000. LPL Financial LLC purchased a new stake in Cheniere Energy Partners in the first quarter worth about $206,000. Finally, Searle & CO. purchased a new stake in Cheniere Energy Partners in the second quarter worth about $216,000.
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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