Zacks Investment Research upgraded shares of Cheniere Energy Partners (NYSEAMERICAN:CQP) from a strong sell rating to a hold rating in a report released on Monday.
According to Zacks, “CHENIERE ENERGY PARTNERS, L.P. is a Delaware limited partnership recently formed by Cheniere Energy, Inc. through its wholly owned subsidiary, Sabine Pass LNG, L.P. CEP will develop, own and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel. CEP’s primary business objectives are to complete construction of the Sabine Pass LNG receiving terminal and, thereafter, to generate stable cash flows sufficient to pay the initial quarterly distribution to the unitholders and, over time, to increase their quarterly cash distribution. “
Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reduced their price objective on Cheniere Energy Partners from $35.00 to $32.00 and set an outperform rating on the stock in a research report on Monday, October 16th. BMO Capital Markets began coverage on Cheniere Energy Partners in a research report on Monday, September 25th. They set an outperform rating and a $32.00 price objective on the stock. Stifel Nicolaus assumed coverage on Cheniere Energy Partners in a research report on Thursday, January 4th. They set a hold rating and a $30.00 price objective on the stock. Finally, BidaskClub upgraded Cheniere Energy Partners from a strong sell rating to a sell rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $33.63.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last announced its quarterly earnings data on Tuesday, November 14th. The energy company reported ($1.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($1.56). Cheniere Energy Partners had a return on equity of 19.48% and a net margin of 2.55%. The company had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $1.14 billion.
In other Cheniere Energy Partners news, major shareholder Group L.P. Blackstone bought 459,823 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was acquired at an average cost of $29.56 per share, with a total value of $13,592,367.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Gso Holdings I. Llc bought 228,535 shares of the business’s stock in a transaction dated Friday, December 28th. The shares were acquired at an average cost of $29.63 per share, with a total value of $6,771,492.05. The disclosure for this purchase can be found here. Insiders acquired 838,701 shares of company stock worth $24,581,185 in the last 90 days.
Hedge funds have recently modified their holdings of the company. Blackstone Group L.P. raised its stake in shares of Cheniere Energy Partners by 5,731.3% during the 3rd quarter. Blackstone Group L.P. now owns 202,450,687 shares of the energy company’s stock worth $5,834,629,000 after buying an additional 198,978,886 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in shares of Cheniere Energy Partners by 45.0% in the 3rd quarter. First Allied Advisory Services Inc. now owns 26,309 shares of the energy company’s stock worth $759,000 after acquiring an additional 8,160 shares during the period. Jane Street Group LLC grew its holdings in shares of Cheniere Energy Partners by 7.7% in the 3rd quarter. Jane Street Group LLC now owns 55,075 shares of the energy company’s stock worth $1,587,000 after acquiring an additional 3,953 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Cheniere Energy Partners in the 3rd quarter worth approximately $331,000. Finally, California Public Employees Retirement System grew its holdings in shares of Cheniere Energy Partners by 18.1% in the 3rd quarter. California Public Employees Retirement System now owns 38,734 shares of the energy company’s stock worth $1,116,000 after acquiring an additional 5,934 shares during the period.
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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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