Zacks Investment Research cut shares of Cheniere Energy (ARCA:CQP) from a strong-buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “CHENIERE ENERGY PARTNERS, L.P. is a Delaware limited partnership recently formed by Cheniere Energy, Inc. through its wholly owned subsidiary, Sabine Pass LNG, L.P. CEP will develop, own and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel. CEP’s primary business objectives are to complete construction of the Sabine Pass LNG receiving terminal and, thereafter, to generate stable cash flows sufficient to pay the initial quarterly distribution to the unitholders and, over time, to increase their quarterly cash distribution. “
Other research analysts have also issued reports about the company. Credit Suisse Group AG reiterated an outperform rating on shares of Cheniere Energy in a research report on Wednesday, October 12th. Howard Weil lowered Cheniere Energy from an outperform rating to a sector perform rating and increased their price objective for the company from $33.00 to $35.00 in a research report on Thursday, December 15th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $33.22.
Cheniere Energy (ARCA:CQP) opened at 28.41 on Wednesday. The firm’s market capitalization is $9.60 billion. Cheniere Energy has a 52-week low of $19.22 and a 52-week high of $31.49. The company’s 50-day moving average price is $28.68 and its 200 day moving average price is $28.14.
Cheniere Energy (ARCA:CQP) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.18. Cheniere Energy had a negative return on equity of 40.19% and a negative net margin of 39.96%. During the same period in the prior year, the business earned $0.18 EPS. Equities analysts predict that Cheniere Energy will post $0.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Thursday, February 2nd will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of Infinity.
Cheniere Energy Company Profile
Cheniere Energy Partners, L.P. is a limited partnership formed by Cheniere Energy, Inc The Company operates in LNG terminal business segment. Through its subsidiary, Sabine Pass LNG, L.P. (SPLNG), the Company owns and operates the regasification facilities at the Sabine Pass LNG terminal located on the Sabine-Neches Waterway approximately four miles from the Gulf Coast.
Get a free copy of the Zacks research report on Cheniere Energy (CQP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com