Cheniere Energy Partners (NYSE:CQP) Posts Quarterly Earnings Results, Beats Expectations By $1.27 EPS

Cheniere Energy Partners (NYSE:CQP) issued its earnings results on Wednesday. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $1.27, FiscalAI reports. The company had revenue of $2.91 billion for the quarter. Cheniere Energy Partners had a net margin of 22.54% and a negative return on equity of 591.00%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share.

Cheniere Energy Partners Stock Performance

Cheniere Energy Partners stock traded up $2.58 during trading hours on Thursday, reaching $61.37. 91,866 shares of the company’s stock traded hands, compared to its average volume of 85,436. Cheniere Energy Partners has a fifty-two week low of $49.53 and a fifty-two week high of $68.42. The firm has a market capitalization of $29.70 billion, a price-to-earnings ratio of 15.98 and a beta of 0.42. The firm’s 50 day moving average is $56.04 and its 200-day moving average is $54.27.

Cheniere Energy Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were given a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, February 9th. Cheniere Energy Partners’s dividend payout ratio is presently 80.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC raised its holdings in Cheniere Energy Partners by 16.4% in the 4th quarter. Virtu Financial LLC now owns 8,955 shares of the company’s stock valued at $479,000 after acquiring an additional 1,260 shares during the period. Evolve Private Wealth LLC purchased a new position in shares of Cheniere Energy Partners in the 4th quarter worth approximately $214,000. Asset One Wealth Management LLC purchased a new stake in Cheniere Energy Partners during the fourth quarter worth about $564,000. Tortoise Capital Advisors L.L.C. increased its stake in shares of Cheniere Energy Partners by 37.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 1,092,866 shares of the company’s stock worth $58,446,000 after purchasing an additional 298,566 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its position in shares of Cheniere Energy Partners by 7.1% during the fourth quarter. Hilltop Holdings Inc. now owns 6,804 shares of the company’s stock valued at $364,000 after buying an additional 450 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CQP shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Cheniere Energy Partners in a research note on Monday, December 29th. Citigroup cut their target price on shares of Cheniere Energy Partners from $51.00 to $49.00 and set a “sell” rating on the stock in a report on Monday, January 12th. Morgan Stanley reduced their price objective on Cheniere Energy Partners from $71.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday. Zacks Research lowered shares of Cheniere Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. Finally, Bank of America decreased their price objective on shares of Cheniere Energy Partners from $53.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, Cheniere Energy Partners presently has a consensus rating of “Strong Sell” and a consensus price target of $54.00.

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.