Cheniere Energy Partners (NYSE:CQP) Hits New 52-Week High Following Dividend Announcement

Cheniere Energy Partners (NYSE:CQP) reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $63.29 and last traded at $61.95, with a volume of 1281360 shares trading hands. The stock had previously closed at $61.58.

The newly announced dividend which will be paid on Friday, February 14th. Shareholders of record on Monday, February 10th will be given a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Monday, February 10th. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. Cheniere Energy Partners’s payout ratio is 66.95%.

Analysts Set New Price Targets

CQP has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Bank of America initiated coverage on shares of Cheniere Energy Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $46.00 price target on the stock. Finally, Barclays upped their price objective on Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th.

Cheniere Energy Partners Stock Performance

The company has a 50-day moving average price of $56.95. The firm has a market cap of $29.99 billion, a PE ratio of 13.38 and a beta of 0.75.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts expect that Cheniere Energy Partners will post 4.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cheniere Energy Partners

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Cheniere Energy Partners by 39.5% in the fourth quarter. Van ECK Associates Corp now owns 11,779 shares of the company’s stock valued at $626,000 after acquiring an additional 3,336 shares during the period. MADDEN SECURITIES Corp boosted its stake in shares of Cheniere Energy Partners by 9.9% during the fourth quarter. MADDEN SECURITIES Corp now owns 16,700 shares of the company’s stock valued at $887,000 after purchasing an additional 1,500 shares during the period. Powell Investment Advisors LLC grew its holdings in shares of Cheniere Energy Partners by 1.6% in the fourth quarter. Powell Investment Advisors LLC now owns 16,820 shares of the company’s stock worth $893,000 after purchasing an additional 258 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in Cheniere Energy Partners by 1.6% in the 4th quarter. Miller Howard Investments Inc. NY now owns 102,122 shares of the company’s stock worth $5,425,000 after buying an additional 1,571 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Cheniere Energy Partners by 9.6% during the 4th quarter. Empowered Funds LLC now owns 34,526 shares of the company’s stock valued at $1,834,000 after buying an additional 3,012 shares in the last quarter. Institutional investors own 46.55% of the company’s stock.

About Cheniere Energy Partners

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