Cheniere Energy Partners LP (NYSEAMERICAN:CQP) announced a quarterly dividend on Wednesday, July 29th, Wall Street Journal reports. Shareholders of record on Friday, August 7th will be given a dividend of 0.645 per share by the energy company on Friday, August 14th. This represents a $2.58 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Thursday, August 6th. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.64.
Cheniere Energy Partners has increased its dividend by an average of 42.4% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Cheniere Energy Partners has a dividend payout ratio of 111.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of NYSEAMERICAN:CQP opened at $34.60 on Thursday. Cheniere Energy Partners has a twelve month low of $17.75 and a twelve month high of $49.30.
Cheniere Energy Partners (NYSEAMERICAN:CQP) last announced its earnings results on Thursday, April 30th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.58 billion. The company’s revenue for the quarter was down 1.8% on a year-over-year basis.
CQP has been the subject of a number of recent research reports. UBS Group raised Cheniere Energy Partners to a “buy” rating and set a $41.50 target price for the company in a research note on Friday, May 29th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $31.00 target price on shares of Cheniere Energy Partners in a research note on Monday, April 27th. TheStreet raised Cheniere Energy Partners from a “c+” rating to a “b” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. cut their price objective on Cheniere Energy Partners from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Morgan Stanley cut their price objective on Cheniere Energy Partners from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $36.32.
About Cheniere Energy Partners
Cheniere Energy Partners, L.P., through its subsidiaries, owns and operates regasification facilities at the Sabine Pass liquefied natural gas (LNG) terminal located in Cameron Parish, Louisiana on the Sabine-Neches Waterway. The company's regasification facilities include infrastructure of five LNG storage tanks with capacity of approximately 16.9 billion cubic feet equivalent; two marine berths that accommodate vessels of up to 266,000 cubic meters; and vaporizers with regasification capacity of approximately 4.0 billion cubic feet per day.
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