Wells Fargo & Company Increases Cheniere Energy Partners (NYSE:CQP) Price Target to $55.00

Cheniere Energy Partners (NYSE:CQP) had its target price increased by Wells Fargo & Company from $49.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 0.81% from the company’s current price.

Separately, Bank of America assumed coverage on shares of Cheniere Energy Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price target on the stock.

Cheniere Energy Partners Price Performance

CQP opened at $54.56 on Wednesday. The firm has a market cap of $26.41 billion, a PE ratio of 11.78 and a beta of 0.73. The business’s fifty day moving average is $53.00. Cheniere Energy Partners has a 12 month low of $45.51 and a 12 month high of $59.40.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.08). Cheniere Energy Partners had a negative return on equity of 328.60% and a net margin of 31.28%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cheniere Energy Partners will post 4.29 EPS for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors have recently modified their holdings of CQP. Millburn Ridgefield Corp bought a new stake in shares of Cheniere Energy Partners during the 3rd quarter worth about $116,000. Larson Financial Group LLC acquired a new position in Cheniere Energy Partners in the third quarter valued at about $146,000. BIP Wealth LLC bought a new position in Cheniere Energy Partners in the 3rd quarter valued at about $244,000. Van ECK Associates Corp acquired a new stake in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $416,000. Finally, Blankinship & Foster LLC bought a new position in Cheniere Energy Partners in the third quarter valued at approximately $424,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

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.