Cheniere Energy Partners (NYSE:CQP) Posts Quarterly Earnings Results, Beats Estimates By $1.13 EPS

Cheniere Energy Partners (NYSE:CQP) announced its quarterly earnings results on Wednesday. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $1.13, FiscalAI reports. Cheniere Energy Partners had a negative return on equity of 4,929.80% and a net margin of 22.27%.The firm had revenue of $2.58 billion during the quarter. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis.

Cheniere Energy Partners Stock Up 3.1%

Shares of CQP traded up $1.98 during trading on Thursday, reaching $66.11. The company’s stock had a trading volume of 185,815 shares, compared to its average volume of 100,147. The company has a fifty day moving average of $62.87 and a two-hundred day moving average of $62.28. Cheniere Energy Partners has a twelve month low of $49.53 and a twelve month high of $70.64. The company has a market cap of $32.00 billion, a price-to-earnings ratio of 15.45 and a beta of 0.31. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 161.69.

Cheniere Energy Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.775 per share. The ex-dividend date is Friday, August 7th. This represents a $3.10 annualized dividend and a yield of 4.7%. Cheniere Energy Partners’s payout ratio is currently 72.43%.

Analyst Upgrades and Downgrades

CQP has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Cheniere Energy Partners from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. Weiss Ratings upgraded Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. Finally, Barclays raised their target price on Cheniere Energy Partners from $60.00 to $63.00 and gave the company an “underweight” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Cheniere Energy Partners presently has a consensus rating of “Reduce” and an average target price of $61.00.

Institutional Trading of Cheniere Energy Partners

Hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Cheniere Energy Partners by 3.7% in the 4th quarter. Alps Advisors Inc. now owns 9,338,942 shares of the company’s stock valued at $499,447,000 after purchasing an additional 336,946 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in 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. Northwestern Mutual Wealth Management Co. grew its stake in Cheniere Energy Partners by 52,982.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 252,673 shares of the company’s stock worth $13,513,000 after purchasing an additional 252,197 shares in the last quarter. Clearbridge Investments LLC grew its stake in Cheniere Energy Partners by 24.1% in the fourth quarter. Clearbridge Investments LLC now owns 611,873 shares of the company’s stock worth $32,723,000 after purchasing an additional 118,782 shares in the last quarter. Finally, HRT Financial LP increased its holdings in Cheniere Energy Partners by 1,689.3% in the second quarter. HRT Financial LP now owns 88,139 shares of the company’s stock valued at $4,940,000 after buying an additional 83,213 shares during the last quarter. 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.