B. Riley Wealth Advisors Inc. Trims Position in Cheniere Energy Partners (NYSE:CQP)

B. Riley Wealth Advisors Inc. cut its stake in shares of Cheniere Energy Partners (NYSE:CQP) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,255 shares of the company’s stock after selling 690 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Cheniere Energy Partners were worth $310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its position in shares of Cheniere Energy Partners by 12.7% during the third quarter. Fred Alger Management LLC now owns 52,962 shares of the company’s stock worth $2,580,000 after acquiring an additional 5,969 shares during the period. Empowered Funds LLC boosted its stake in Cheniere Energy Partners by 3.4% in the third quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock valued at $1,535,000 after acquiring an additional 1,043 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Cheniere Energy Partners during the third quarter worth about $1,286,000. Montchanin Asset Management LLC boosted its stake in shares of Cheniere Energy Partners by 2.6% during the third quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock worth $951,000 after buying an additional 500 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Cheniere Energy Partners during the third quarter worth about $866,000. Hedge funds and other institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Price Performance

NYSE:CQP opened at $52.22 on Friday. Cheniere Energy Partners has a twelve month low of $45.51 and a twelve month high of $59.40. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 11.28 and a beta of 0.73. The company’s fifty day simple moving average is $52.98.

Cheniere Energy Partners (NYSE:CQP) last released its earnings results on Thursday, October 31st. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.08). The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. Cheniere Energy Partners’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. Equities research analysts forecast that Cheniere Energy Partners will post 4.29 EPS for the current year.

Cheniere Energy Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.27%. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CQP shares. Wells Fargo & Company raised their price objective on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a research report on Wednesday. Bank of America started coverage on shares of Cheniere Energy Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $46.00 target price on the stock.

Cheniere Energy Partners Company Profile

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.