Equities researchers at StockNews.com have downgraded Cheniere Energy Partners (NYSEAMERICAN:CQP) from a “strong-buy” rating to a “buy” rating. Other analysts have also issued reports on the stock. Stifel Nicolaus reduced their target price to $49.00, while UBS Group upgraded the stock to a “buy” rating with a target price of $57.00. Wolfe Research downgraded the stock to “underperform” with a price target of $43.00.
Cheniere Energy Partners opened at $49.75 on Friday with a fifty-day simple moving average of $46.57. The company has a market capitalization of $24.08 billion, a P/E ratio of 6.65, and a beta of 0.83. Its 52-week low is $42.96 and its 52-week high is $62.08.
In the latest earnings report released on August 3rd, Cheniere Energy Partners reported an EPS of $0.84, surpassing the consensus estimate of $0.82. However, the company’s quarterly revenue was down 53.8% compared to the same quarter last year. Analysts predict that the company will post 3.21 earnings per share for the current fiscal year.
COO Corey Grindal sold 7,649 shares of the company’s stock in a transaction dated May 25th. Hedge funds have also made moves with their stakes in CQP, with Maryland State Retirement & Pension System growing its holdings by 323.6% and Mirae Asset Global Investments Co. Ltd. boosting its position by 83.2%.
Cheniere Energy Partners, through its subsidiaries, provides liquefied natural gas (LNG) to integrated energy companies, utilities, and energy trading companies globally. The company operates a natural gas liquefaction and export facility located in Louisiana.
