Cheniere Energy Partners (NYSE:CQP) Reaches New 1-Year High – Here’s Why

Cheniere Energy Partners (NYSE:CQP)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $66.47 and last traded at $64.31, with a volume of 358609 shares trading hands. The stock had previously closed at $65.17.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CQP shares. 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 target price on the stock. Barclays raised their price objective on Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company upped their target price on Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th.

Cheniere Energy Partners Stock Down 1.3 %

The business’s 50-day moving average is $57.62. The firm has a market cap of $31.13 billion, a PE ratio of 13.89 and a beta of 0.76.

Cheniere Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 10th will be given a dividend of $0.775 per share. This is a positive change from Cheniere Energy Partners’s previous quarterly dividend of $0.04. This represents a $3.10 annualized dividend and a yield of 4.82%. The ex-dividend date is Monday, February 10th. Cheniere Energy Partners’s dividend payout ratio (DPR) is currently 66.95%.

Institutional Investors Weigh In On Cheniere Energy Partners

A number of institutional investors have recently made changes to their positions in the stock. Blankinship & Foster LLC bought a new position in shares of Cheniere Energy Partners during the third quarter worth about $424,000. JPMorgan Chase & Co. lifted its position in shares of Cheniere Energy Partners by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock worth $37,264,000 after purchasing an additional 137,477 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Cheniere Energy Partners in the 3rd quarter worth approximately $866,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Cheniere Energy Partners in the 3rd quarter valued at $1,286,000. Finally, Mediolanum International Funds Ltd raised its stake in Cheniere Energy Partners by 59.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 96,491 shares of the company’s stock worth $5,126,000 after buying an additional 35,954 shares during 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.