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

Cheniere Energy Partners (NYSE:CQP)’s share price reached a new 52-week high during trading 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 paid a dividend of $0.775 per share. This is an increase from Cheniere Energy Partners’s previous quarterly dividend of $0.04. This represents a $3.10 annualized dividend and a yield of 5.00%. The ex-dividend date is Monday, February 10th. Cheniere Energy Partners’s payout ratio is currently 66.95%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CQP shares. Bank of America started coverage on shares of Cheniere Energy Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $46.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Cheniere Energy Partners from $49.00 to $55.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Finally, Barclays boosted their price objective on shares of Cheniere Energy Partners from $46.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th.

Cheniere Energy Partners Price Performance

The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 13.38 and a beta of 0.75. The company’s 50 day simple moving average is $57.11.

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

Institutional Trading of Cheniere Energy Partners

Institutional investors have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. raised its holdings in Cheniere Energy Partners by 30.1% in the fourth quarter. Valley National Advisers Inc. now owns 1,341 shares of the company’s stock valued at $71,000 after acquiring an additional 310 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in Cheniere Energy Partners in the third quarter valued at $116,000. Geneos Wealth Management Inc. raised its holdings in Cheniere Energy Partners by 64.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the company’s stock valued at $135,000 after acquiring an additional 1,000 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Cheniere Energy Partners in the third quarter valued at $146,000. Finally, Charles Schwab Trust Co acquired a new stake in Cheniere Energy Partners in the fourth quarter valued at $212,000. 46.55% of the stock is 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.