Cheniere Energy Partners (NYSE:CQP) Price Target Lowered to $55.00 at Morgan Stanley

Cheniere Energy Partners (NYSE:CQP) had its price target lowered by equities researchers at Morgan Stanley from $71.00 to $55.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 6.76% from the stock’s previous close.

Several other analysts also recently commented on CQP. Citigroup reduced their target price on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating for the company in a report on Monday, January 12th. Zacks Research lowered Cheniere Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Cheniere Energy Partners in a research report on Monday, December 29th. Finally, Bank of America lowered their price target on shares of Cheniere Energy Partners from $53.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Cheniere Energy Partners has an average rating of “Strong Sell” and a consensus target price of $54.00.

Cheniere Energy Partners Stock Performance

Cheniere Energy Partners stock traded down $0.74 during midday trading on Tuesday, reaching $58.99. 20,038 shares of the company’s stock were exchanged, compared to its average volume of 83,347. The stock’s 50-day simple moving average is $55.80 and its 200 day simple moving average is $54.20. Cheniere Energy Partners has a 52 week low of $49.53 and a 52 week high of $68.42. The firm has a market cap of $28.55 billion, a price-to-earnings ratio of 15.38 and a beta of 0.42.

Institutional Trading of Cheniere Energy Partners

A number of hedge funds have recently added to or reduced their stakes in CQP. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 205 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cheniere Energy Partners by 180.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock valued at $27,000 after acquiring an additional 306 shares in the last quarter. Caldwell Trust Co purchased a new stake in shares of Cheniere Energy Partners during the fourth quarter valued at approximately $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Cheniere Energy Partners in the fourth quarter worth $51,000. Finally, Parkside Financial Bank & Trust grew its stake in Cheniere Energy Partners by 25.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 924 shares of the company’s stock valued at $52,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 46.55% of the company’s stock.

Cheniere Energy Partners Company Profile

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.