Zacks Investment Research Downgrades Cheniere Energy Partners (CQP) to Hold

Zacks Investment Research downgraded shares of Cheniere Energy Partners (NYSEAMERICAN:CQP) from a strong-buy rating to a hold rating in a research note published on Thursday.

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. “

A number of other equities analysts have also recently issued reports on CQP. US Capital Advisors restated an overweight rating on shares of Cheniere Energy Partners in a report on Tuesday, July 17th. Stifel Nicolaus boosted their price objective on Cheniere Energy Partners from $32.00 to $35.00 and gave the company a hold rating in a report on Friday, August 10th. Scotiabank set a $41.00 price objective on Cheniere Energy Partners and gave the company a hold rating in a report on Monday, August 20th. Wells Fargo & Co set a $45.00 price objective on Cheniere Energy Partners and gave the company an outperform rating in a report on Monday, August 13th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $39.00 price objective on Cheniere Energy Partners and gave the company a hold rating in a report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Cheniere Energy Partners currently has an average rating of Hold and a consensus price target of $39.56.

CQP traded up $0.02 during trading hours on Thursday, reaching $35.17. 389,500 shares of the company’s stock traded hands, compared to its average volume of 277,050. Cheniere Energy Partners has a 52-week low of $26.68 and a 52-week high of $40.56.

Cheniere Energy Partners (NYSEAMERICAN:CQP) last posted its quarterly earnings data on Thursday, August 9th. The energy company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 6.60%. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, November 2nd.

Several hedge funds have recently modified their holdings of the business. Alps Advisors Inc. lifted its holdings in shares of Cheniere Energy Partners by 5.5% in the 3rd quarter. Alps Advisors Inc. now owns 3,587,579 shares of the energy company’s stock worth $141,566,000 after buying an additional 187,466 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Cheniere Energy Partners by 16.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,820,691 shares of the energy company’s stock worth $111,294,000 after buying an additional 391,700 shares during the period. Jennison Associates LLC lifted its holdings in shares of Cheniere Energy Partners by 4.4% in the 3rd quarter. Jennison Associates LLC now owns 1,317,683 shares of the energy company’s stock worth $51,996,000 after buying an additional 54,989 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Cheniere Energy Partners by 185.0% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 969,015 shares of the energy company’s stock worth $38,237,000 after buying an additional 629,015 shares during the period. Finally, Columbus Hill Capital Management L.P. lifted its holdings in shares of Cheniere Energy Partners by 55.7% in the 2nd quarter. Columbus Hill Capital Management L.P. now owns 386,492 shares of the energy company’s stock worth $13,894,000 after buying an additional 138,324 shares during the period.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P., through its subsidiaries, owns and operates regasification facilities at the Sabine Pass liquefied natural gas (LNG) terminal located on the Sabine-Neches Waterway. The company's regasification facilities include infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion cubic feet equivalent; two marine berths that accommodate vessels of up to 266,000 cubic meters; and vaporizers with regasification capacity of approximately 4.0 billion cubic feet per day.

Featured Story: Do Tariffs Work?

Get a free copy of the Zacks research report on Cheniere Energy Partners (CQP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cheniere Energy Partners (NYSEAMERICAN:CQP)

Receive News & Ratings for Cheniere Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cheniere Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply