Van ECK Associates Corp trimmed its holdings in shares of Cheniere Energy Partners, L.P. (NYSEAMERICAN:CQP) by 12.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,793 shares of the energy company’s stock after selling 549 shares during the period. Van ECK Associates Corp’s holdings in Cheniere Energy Partners were worth $168,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of CQP. Ameritas Investment Company LLC acquired a new stake in shares of Cheniere Energy Partners in the 1st quarter worth approximately $29,000. GPS Wealth Strategies Group LLC acquired a new stake in shares of Cheniere Energy Partners in the 2nd quarter worth approximately $44,000. Parkside Financial Bank & Trust grew its holdings in shares of Cheniere Energy Partners by 25.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,577 shares of the energy company’s stock worth $70,000 after acquiring an additional 322 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Cheniere Energy Partners in the 2nd quarter worth approximately $89,000. Finally, Wagner Wealth Management LLC acquired a new stake in shares of Cheniere Energy Partners in the 1st quarter worth approximately $123,000. 46.73% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on the company. The Goldman Sachs Group raised Cheniere Energy Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $56.00 in a research note on Sunday, June 13th. Citigroup raised their price target on shares of Cheniere Energy Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 22nd. Zacks Investment Research raised shares of Cheniere Energy Partners from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, July 7th. Finally, Barclays lowered shares of Cheniere Energy Partners from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $43.71 to $45.00 in a research report on Tuesday, July 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.00.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last announced its quarterly earnings results on Thursday, August 5th. The energy company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.13. Cheniere Energy Partners had a net margin of 15.87% and a return on equity of 204.24%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 28.5% on a year-over-year basis. On average, analysts predict that Cheniere Energy Partners, L.P. will post 2.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, August 6th were issued a $0.665 dividend. The ex-dividend date was Thursday, August 5th. This represents a $2.66 dividend on an annualized basis and a yield of 6.52%. This is a positive change from Cheniere Energy Partners’s previous quarterly dividend of $0.66. Cheniere Energy Partners’s payout ratio is currently 109.47%.
In other news, major shareholder Bx Rockies Platform Co Llc acquired 30,400 shares of the business’s stock in a transaction on Wednesday, September 22nd. The shares were purchased at an average price of $39.60 per share, for a total transaction of $1,203,840.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Cheniere Energy Partners Profile
Cheniere Energy Partners LP engages in the operations of liquefied natural gas. It also develops, constructs, and operates liquefaction facilities situated adjacent to the regasification facilities at the Sabine Pass Liquefied natural gas terminal. The company was founded in 2006 and is headquartered in Houston, TX.
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