Sanford C. Bernstein Initiates Coverage on Cheniere Energy Partners (NYSE:CQP)

Sanford C. Bernstein began coverage on shares of Cheniere Energy Partners (NYSE:CQP) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set a “market perform” rating on the stock.

CQP has been the subject of several other research reports. Barclays dropped their price target on shares of Cheniere Energy Partners from $51.00 to $45.00 and set an “underweight” rating for the company in a research report on Thursday, April 18th. UBS Group dropped their price target on shares of Cheniere Energy Partners from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Cheniere Energy Partners Trading Down 0.7 %

NYSE CQP opened at $48.23 on Monday. The company has a 50-day moving average of $48.59. Cheniere Energy Partners has a twelve month low of $45.30 and a twelve month high of $62.34. The company has a market capitalization of $23.35 billion, a PE ratio of 10.42 and a beta of 0.67.

Cheniere Energy Partners (NYSE:CQP) last released its earnings results on Friday, May 3rd. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Cheniere Energy Partners had a net margin of 33.19% and a negative return on equity of 275.07%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the company earned $3.50 earnings per share. The firm’s revenue was down 21.3% on a year-over-year basis. On average, sell-side analysts predict that Cheniere Energy Partners will post 4.61 earnings per share for the current year.

Institutional Trading of Cheniere Energy Partners

Several hedge funds have recently modified their holdings of CQP. Invesco Ltd. increased its holdings in shares of Cheniere Energy Partners by 170.2% during the third quarter. Invesco Ltd. now owns 391,808 shares of the company’s stock worth $21,232,000 after buying an additional 246,808 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Cheniere Energy Partners by 6.0% during the third quarter. LPL Financial LLC now owns 65,070 shares of the company’s stock worth $3,526,000 after buying an additional 3,656 shares in the last quarter. Mariner LLC increased its holdings in shares of Cheniere Energy Partners by 12.4% during the third quarter. Mariner LLC now owns 10,137 shares of the company’s stock worth $549,000 after buying an additional 1,119 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Cheniere Energy Partners during the third quarter worth approximately $1,295,000. Finally, Glenmede Trust Co. NA increased its holdings in shares of Cheniere Energy Partners by 4.0% in the third quarter. Glenmede Trust Co. NA now owns 51,795 shares of the company’s stock valued at $2,807,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

About Cheniere Energy Partners

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.