Wells Fargo & Company Forecasts Strong Price Appreciation for Cheniere Energy Partners (NYSE:CQP) Stock

Cheniere Energy Partners (NYSE:CQP) had its price target boosted by equities research analysts at Wells Fargo & Company from $49.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 5.97% from the stock’s previous close.

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

Cheniere Energy Partners Price Performance

Cheniere Energy Partners stock opened at $51.90 on Wednesday. Cheniere Energy Partners has a 52-week low of $45.51 and a 52-week high of $59.40. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 11.21 and a beta of 0.73. The firm’s 50-day moving average price is $53.00.

Cheniere Energy Partners (NYSE:CQP) last issued 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 quarter in the prior year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Research analysts anticipate that Cheniere Energy Partners will post 4.29 earnings per share for the current year.

Institutional Investors Weigh In On Cheniere Energy Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new position in Cheniere Energy Partners during the 3rd quarter valued at $116,000. Larson Financial Group LLC bought a new position in Cheniere Energy Partners during the third quarter valued at about $146,000. BIP Wealth LLC bought a new position in Cheniere Energy Partners during the third quarter valued at about $244,000. Van ECK Associates Corp acquired a new position in Cheniere Energy Partners during the third quarter worth about $416,000. Finally, Blankinship & Foster LLC bought a new stake in Cheniere Energy Partners in the third quarter worth about $424,000. Institutional investors own 46.55% of the company’s stock.

Cheniere Energy Partners Company Profile

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.