Davidson Trust Co. Buys New Stake in Cheniere Energy Partners (NYSE:CQP)

Davidson Trust Co. purchased a new position in shares of Cheniere Energy Partners (NYSE:CQP) during the fourth quarter, Holdings Channel reports. The fund purchased 4,000 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp acquired a new position in Cheniere Energy Partners during the 3rd quarter worth about $416,000. Empowered Funds LLC lifted its position in shares of Cheniere Energy Partners by 3.4% during the third quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock worth $1,535,000 after purchasing an additional 1,043 shares in the last quarter. BIP Wealth LLC purchased a new position in shares of Cheniere Energy Partners in the third quarter valued at approximately $244,000. Larson Financial Group LLC purchased a new position in shares of Cheniere Energy Partners in the third quarter valued at approximately $146,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Cheniere Energy Partners in the third quarter valued at approximately $866,000. 46.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price on Cheniere Energy Partners from $49.00 to $55.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th.

Cheniere Energy Partners Stock Performance

Shares of NYSE:CQP opened at $61.62 on Tuesday. Cheniere Energy Partners has a 52 week low of $45.51 and a 52 week high of $66.47. The firm has a 50 day moving average price of $58.41. The stock has a market cap of $29.83 billion, a P/E ratio of 13.31 and a beta of 0.76.

Cheniere Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a $0.775 dividend. This represents a $3.10 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Cheniere Energy Partners’s previous quarterly dividend of $0.04. Cheniere Energy Partners’s dividend payout ratio is 66.95%.

Cheniere Energy Partners 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.