Cheniere Energy Partners (NYSE:CQP) Issues Quarterly Earnings Results

Cheniere Energy Partners (NYSE:CQP) announced its quarterly earnings results on Wednesday. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $1.13, FiscalAI reports. Cheniere Energy Partners had a net margin of 22.27% and a negative return on equity of 4,929.80%. The company had revenue of $2.58 billion for the quarter. During the same period last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis.

Cheniere Energy Partners Trading Down 2.1%

Shares of Cheniere Energy Partners stock traded down $1.42 during trading hours on Friday, reaching $64.62. 54,809 shares of the company’s stock were exchanged, compared to its average volume of 115,708. Cheniere Energy Partners has a 52-week low of $49.53 and a 52-week high of $70.64. The firm has a market capitalization of $31.28 billion, a price-to-earnings ratio of 15.10 and a beta of 0.31. The company has a fifty day moving average of $62.87 and a 200-day moving average of $62.28. The company has a current ratio of 0.42, a quick ratio of 0.37 and a debt-to-equity ratio of 161.69.

Cheniere Energy Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a $0.775 dividend. The ex-dividend date is Friday, August 7th. This represents a $3.10 annualized dividend and a yield of 4.8%. Cheniere Energy Partners’s payout ratio is 72.43%.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its stake in Cheniere Energy Partners by 3.2% in the 1st quarter. NewEdge Advisors LLC now owns 9,717 shares of the company’s stock worth $642,000 after buying an additional 300 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Cheniere Energy Partners by 1,863.4% during the 1st quarter. Jones Financial Companies Lllp now owns 7,029 shares of the company’s stock worth $464,000 after acquiring an additional 6,671 shares during the period. Creative Planning boosted its position in shares of Cheniere Energy Partners by 18.4% in the second quarter. Creative Planning now owns 5,326 shares of the company’s stock worth $299,000 after acquiring an additional 826 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cheniere Energy Partners by 180.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 476 shares of the company’s stock valued at $27,000 after purchasing an additional 306 shares during the period. Finally, Bank of America Corp DE grew its holdings in Cheniere Energy Partners by 1.2% in the second quarter. Bank of America Corp DE now owns 319,717 shares of the company’s stock valued at $17,920,000 after purchasing an additional 3,659 shares during the period. 46.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays raised their price target on Cheniere Energy Partners from $63.00 to $66.00 and gave the stock an “underweight” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Cheniere Energy Partners from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of Cheniere Energy Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $61.43.

About Cheniere Energy Partners

Cheniere Energy Partners, L.P. (NYSE: CQP) is a publicly traded master limited partnership that owns and operates liquefied natural gas (LNG) infrastructure in the United States. The partnership’s business centers on the development, ownership and operation of LNG facilities and associated pipeline assets that enable the liquefaction, storage and delivery of natural gas for export and domestic use. CQP’s assets are focused on large-scale midstream energy infrastructure intended to serve global natural gas markets.

The company’s core activities include LNG liquefaction and storage, terminal services, and pipeline transportation.