Cheniere Energy Partners (NYSE:CQP) Sets New 52-Week High After Dividend Announcement

Cheniere Energy Partners (NYSE:CQP) shares hit a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $63.29 and last traded at $61.95, with a volume of 1281360 shares trading hands. The stock had previously closed at $61.58.

The newly announced dividend which will be paid on Friday, February 14th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 5.00%. This is a boost from Cheniere Energy Partners’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, February 10th. Cheniere Energy Partners’s dividend payout ratio is 66.95%.

Wall Street Analyst Weigh In

CQP has been the topic of a number of research reports. 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 increased their price objective on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Finally, Bank of America assumed coverage on shares of Cheniere Energy Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $46.00 price objective on the stock.

Cheniere Energy Partners Trading Up 0.6 %

The firm has a fifty day moving average price of $57.11. The stock has a market capitalization of $29.99 billion, a price-to-earnings ratio of 13.38 and a beta of 0.75.

Cheniere Energy Partners (NYSE:CQP) last announced its earnings results on Thursday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Analysts predict that Cheniere Energy Partners will post 4.32 EPS for the current year.

Hedge Funds Weigh In On Cheniere Energy Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valley National Advisers Inc. grew its position in Cheniere Energy Partners by 30.1% in the 4th quarter. Valley National Advisers Inc. now owns 1,341 shares of the company’s stock valued at $71,000 after buying an additional 310 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Cheniere Energy Partners during the 3rd quarter valued at about $116,000. Geneos Wealth Management Inc. boosted its position in shares of Cheniere Energy Partners by 64.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock valued at $135,000 after purchasing an additional 1,000 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Cheniere Energy Partners during the 3rd quarter valued at about $146,000. Finally, Charles Schwab Trust Co bought a new position in shares of Cheniere Energy Partners during the 4th quarter valued at about $212,000. Institutional investors own 46.55% of the company’s stock.

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.