Cheniere Energy Partners (NYSEAMERICAN:CQP) Upgraded to Buy at Zacks Investment Research

Cheniere Energy Partners (NYSEAMERICAN:CQP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $49.00 target price on the energy company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.01% from the company’s current price.

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 research analysts have also recently issued research reports about the company. Royal Bank of Canada cut Cheniere Energy Partners from an “outperform” rating to a “sector perform” rating and set a $44.00 target price on the stock. in a report on Sunday, June 9th. Gabelli cut Weatherford International from a “buy” rating to a “sell” rating in a report on Monday, May 13th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $54.00 price target on shares of Apartment Investment and Management in a report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.42.

CQP stock traded up $0.22 during midday trading on Tuesday, reaching $44.14. The company had a trading volume of 127,700 shares, compared to its average volume of 199,393. Cheniere Energy Partners has a fifty-two week low of $32.55 and a fifty-two week high of $45.27.

Cheniere Energy Partners (NYSEAMERICAN:CQP) last issued its quarterly earnings data on Thursday, May 9th. The energy company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.20. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.58 billion.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC grew its holdings in shares of Cheniere Energy Partners by 1.0% during the 1st quarter. Jennison Associates LLC now owns 1,270,919 shares of the energy company’s stock valued at $53,290,000 after acquiring an additional 12,203 shares in the last quarter. Fairview Capital Investment Management LLC boosted its holdings in Cheniere Energy Partners by 0.5% in the fourth quarter. Fairview Capital Investment Management LLC now owns 880,236 shares of the energy company’s stock worth $31,776,000 after purchasing an additional 4,099 shares in the last quarter. Dividend Assets Capital LLC boosted its holdings in Cheniere Energy Partners by 0.9% in the second quarter. Dividend Assets Capital LLC now owns 236,053 shares of the energy company’s stock worth $9,957,000 after purchasing an additional 2,000 shares in the last quarter. Hartz Capital Inc. bought a new stake in Cheniere Energy Partners in the first quarter worth $7,674,000. Finally, Bank of Montreal Can boosted its holdings in Cheniere Energy Partners by 246.3% in the first quarter. Bank of Montreal Can now owns 155,703 shares of the energy company’s stock worth $6,529,000 after purchasing an additional 110,743 shares in the last quarter.

Cheniere Energy Partners Company Profile

Cheniere Energy Partners, L.P., through its subsidiaries, owns and operates regasification facilities at the Sabine Pass liquefied natural gas (LNG) terminal located in Cameron Parish, Louisiana 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.

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