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

Cheniere Energy Partners (NYSE:CQP)’s share price reached a new 52-week high during trading on Thursday after the company announced a dividend. The company 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. Investors of record on Monday, February 10th will be paid a $0.775 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.10 dividend on an annualized basis and a yield of 5.06%. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Bank of America began coverage on shares of Cheniere Energy Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $46.00 price objective on the stock. Finally, Barclays lifted their target price on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, January 16th.

Cheniere Energy Partners Stock Down 3.2 %

The company has a market cap of $29.64 billion, a P/E ratio of 13.23 and a beta of 0.75. The company has a 50-day simple moving average of $57.24.

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

Institutional Investors Weigh In On Cheniere Energy Partners

Several hedge funds have recently modified their holdings of the company. Valley National Advisers Inc. raised its stake in shares of Cheniere Energy Partners by 30.1% during the fourth quarter. Valley National Advisers Inc. now owns 1,341 shares of the company’s stock valued at $71,000 after purchasing an additional 310 shares during the period. Millburn Ridgefield Corp bought a new stake in Cheniere Energy Partners in the third quarter valued at $116,000. Geneos Wealth Management Inc. lifted its stake in Cheniere Energy Partners by 64.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock valued at $135,000 after buying an additional 1,000 shares during the last quarter. Larson Financial Group LLC bought a new stake in Cheniere Energy Partners in the third quarter valued at $146,000. Finally, Charles Schwab Trust Co bought a new stake in shares of Cheniere Energy Partners during the fourth quarter valued at about $212,000. 46.55% of the stock is owned by institutional investors and hedge funds.

Cheniere Energy Partners Company Profile

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.