StockNews.com Downgrades Cheniere Energy Partners (NYSEAMERICAN:CQP) to Buy

Posted by Defense World Staff on Aug 10th, 2023

Cheniere Energy Partners (NYSEAMERICAN:CQP – Get Free Report) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms have also issued reports on CQP. Wolfe Research lowered shares of Cheniere Energy Partners from a “peer perform” rating to an “underperform” rating and set a $43.00 target price for the company. in a report on Thursday, June 1st. Stifel Nicolaus decreased their price objective on shares of Cheniere Energy Partners from $53.00 to $49.00 in a report on Wednesday, May 3rd. Finally, UBS Group upgraded shares of Cheniere Energy Partners from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.38.

View Our Latest Analysis on CQP

Cheniere Energy Partners Stock Up 0.6 %

CQP opened at $49.80 on Tuesday. The stock has a market capitalization of $24.10 billion, a PE ratio of 6.66 and a beta of 0.83. The company’s fifty day moving average is $46.59. Cheniere Energy Partners has a fifty-two week low of $42.96 and a fifty-two week high of $62.08.

Cheniere Energy Partners (NYSEAMERICAN:CQP – Get Free Report) last released its earnings results on Thursday, August 3rd. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.27 billion. Cheniere Energy Partners had a net margin of 31.31% and a negative return on equity of 174.10%. The business’s revenue was down 53.8% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. On average, analysts anticipate that Cheniere Energy Partners will post 3.21 earnings per share for the current year.

Insider Activity

In other news, COO Corey Grindal sold 7,649 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $45.93, for a total value of $351,318.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its position in Cheniere Energy Partners by 3.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,242 shares of the energy company’s stock worth $355,000 after purchasing an additional 218 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Cheniere Energy Partners by 3.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,540 shares of the energy company’s stock valued at $429,000 after acquiring an additional 220 shares during the period. Mariner LLC lifted its stake in Cheniere Energy Partners by 2.6% during the 4th quarter. Mariner LLC now owns 8,906 shares of the energy company’s stock valued at $506,000 after acquiring an additional 223 shares during the period. American Institute for Advanced Investment Management LLP lifted its stake in Cheniere Energy Partners by 2.3% during the 4th quarter. American Institute for Advanced Investment Management LLP now owns 11,605 shares of the energy company’s stock valued at $660,000 after acquiring an additional 260 shares during the period. Finally, Cerity Partners LLC lifted its stake in Cheniere Energy Partners by 4.2% during the 4th quarter. Cerity Partners LLC now owns 6,773 shares of the energy company’s stock valued at $385,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 46.48% of the company’s stock.

Cheniere Energy Partners Company Profile

(Get Free Report)

Cheniere Energy Partners, L.P., through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies worldwide. It owns and operates natural gas liquefaction and export facility at the Sabine Pass LNG production terminal located in Cameron Parish, Louisiana.