Van ECK Associates Corp Makes New $416,000 Investment in Cheniere Energy Partners (NYSE:CQP)

Van ECK Associates Corp acquired a new stake in shares of Cheniere Energy Partners (NYSE:CQP) during the third quarter, HoldingsChannel.com reports. The fund acquired 8,443 shares of the company’s stock, valued at approximately $416,000.

Cheniere Energy Partners Trading Down 1.2 %

NYSE:CQP opened at $49.80 on Wednesday. The firm has a market capitalization of $24.11 billion, a P/E ratio of 10.76 and a beta of 0.67. Cheniere Energy Partners has a 1 year low of $45.51 and a 1 year high of $62.34.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings results 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 net margin of 31.28% and a negative return on equity of 328.60%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts forecast that Cheniere Energy Partners will post 4.24 EPS for the current year.

Cheniere Energy Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.28%. The ex-dividend date is Monday, November 4th. Cheniere Energy Partners’s dividend payout ratio is currently 66.95%.

Wall Street Analysts Forecast Growth

Separately, Bank of America started coverage on Cheniere Energy Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $46.00 target price for the company.

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.