Spire Wealth Management Acquires 790 Shares of Cheniere Energy Partners (NYSE:CQP)

Spire Wealth Management increased its holdings in Cheniere Energy Partners (NYSE:CQP) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,888 shares of the company’s stock after purchasing an additional 790 shares during the quarter. Spire Wealth Management’s holdings in Cheniere Energy Partners were worth $313,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Cheniere Energy Partners by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 764,858 shares of the company’s stock worth $37,264,000 after buying an additional 137,477 shares during the period. Mediolanum International Funds Ltd increased its position in Cheniere Energy Partners by 59.4% during the 4th quarter. Mediolanum International Funds Ltd now owns 96,491 shares of the company’s stock valued at $5,126,000 after purchasing an additional 35,954 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Cheniere Energy Partners during the 3rd quarter worth approximately $1,286,000. Rockefeller Capital Management L.P. bought a new stake in shares of Cheniere Energy Partners in the 3rd quarter valued at $866,000. Finally, M&T Bank Corp bought a new position in Cheniere Energy Partners during the third quarter worth $587,000. Institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Stock Performance

Shares of CQP opened at $62.36 on Friday. Cheniere Energy Partners has a one year low of $45.51 and a one year high of $66.47. The firm has a market cap of $30.18 billion, a P/E ratio of 13.47 and a beta of 0.76. The company has a 50-day moving average price of $57.77.

Cheniere Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.775 per share. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.10 annualized dividend and a dividend yield of 4.97%. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Wall Street Analyst Weigh In

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

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.