Cheniere Energy Partners (CQP) Price Target Raised to $35.00 at Morgan Stanley
Cheniere Energy Partners (NYSEAMERICAN:CQP) had its price target increased by Morgan Stanley from $33.00 to $35.00 in a report released on Monday. They currently have an equal weight rating on the energy company’s stock.
Several other research firms have also recently commented on CQP. Zacks Investment Research upgraded Cheniere Energy Partners from a strong sell rating to a hold rating in a research note on Monday, January 8th. Stifel Nicolaus started coverage on Cheniere Energy Partners in a research note on Thursday, January 4th. They issued a hold rating and a $30.00 price target on the stock. Royal Bank of Canada cut their price target on Cheniere Energy Partners from $35.00 to $32.00 and set an outperform rating on the stock in a research note on Monday, October 16th. Finally, BidaskClub upgraded Cheniere Energy Partners from a strong sell rating to a sell rating in a research note on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $34.00.
Cheniere Energy Partners (NYSEAMERICAN CQP) opened at $30.18 on Monday. Cheniere Energy Partners has a one year low of $26.41 and a one year high of $33.47. The company has a market capitalization of $14,170.00, a PE ratio of 52.03 and a beta of 0.90.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be issued a $0.50 dividend. This is a positive change from Cheniere Energy Partners’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 6.63%. The ex-dividend date is Thursday, February 1st. Cheniere Energy Partners’s payout ratio is currently 344.83%.
In other news, Director Jamie Welch acquired 8,654 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was purchased at an average cost of $27.50 per share, with a total value of $237,985.00. Following the completion of the acquisition, the director now directly owns 8,654 shares in the company, valued at $237,985. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cqp Common Holdco L. Blackstone acquired 25,466 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was purchased at an average cost of $28.61 per share, with a total value of $728,582.26. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 838,701 shares of company stock valued at $24,581,185.
A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in Cheniere Energy Partners by 13.0% in the fourth quarter. Alps Advisors Inc. now owns 18,596 shares of the energy company’s stock valued at $551,000 after buying an additional 2,141 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Cheniere Energy Partners by 0.3% during the fourth quarter. Jennison Associates LLC now owns 973,425 shares of the energy company’s stock valued at $28,852,000 after purchasing an additional 2,496 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Cheniere Energy Partners by 7.7% during the third quarter. Jane Street Group LLC now owns 55,075 shares of the energy company’s stock valued at $1,587,000 after purchasing an additional 3,953 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Cheniere Energy Partners by 18.1% during the third quarter. California Public Employees Retirement System now owns 38,734 shares of the energy company’s stock valued at $1,116,000 after purchasing an additional 5,934 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Cheniere Energy Partners during the fourth quarter valued at approximately $224,000.
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About Cheniere Energy Partners
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.
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