Brokers Set Expectations for Cheniere Energy Partners, L.P.’s Q1 2024 Earnings (NYSE:CQP)

Cheniere Energy Partners, L.P. (NYSE:CQP) – Equities researchers at US Capital Advisors raised their Q1 2024 earnings per share (EPS) estimates for Cheniere Energy Partners in a research note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the company will earn $1.07 per share for the quarter, up from their previous forecast of $0.99. The consensus estimate for Cheniere Energy Partners’ current full-year earnings is $3.54 per share. US Capital Advisors also issued estimates for Cheniere Energy Partners’ Q2 2024 earnings at $0.86 EPS, Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $1.10 EPS, FY2024 earnings at $3.94 EPS, Q1 2025 earnings at $1.04 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $1.08 EPS, FY2025 earnings at $4.01 EPS and FY2026 earnings at $4.13 EPS.

Cheniere Energy Partners (NYSE:CQP) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.25. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.60 billion. Cheniere Energy Partners had a negative return on equity of 292.30% and a net margin of 44.02%.

Several other equities analysts have also issued reports on the company. Barclays dropped their price objective on Cheniere Energy Partners from $51.00 to $45.00 and set an “underweight” rating on the stock in a report on Thursday, April 18th. UBS Group dropped their price objective on Cheniere Energy Partners from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, Stifel Nicolaus raised Cheniere Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.80.

Cheniere Energy Partners Stock Performance

Shares of CQP stock opened at $49.06 on Wednesday. The business’s 50-day moving average price is $48.82. The stock has a market capitalization of $23.75 billion, a price-to-earnings ratio of 7.06 and a beta of 0.68. Cheniere Energy Partners has a 1 year low of $43.42 and a 1 year high of $62.34.

Institutional Investors Weigh In On Cheniere Energy Partners

A number of hedge funds have recently added to or reduced their stakes in CQP. Raymond James & Associates lifted its position in shares of Cheniere Energy Partners by 25.8% during the 3rd quarter. Raymond James & Associates now owns 22,523 shares of the company’s stock valued at $1,220,000 after acquiring an additional 4,616 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Cheniere Energy Partners by 14.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,127 shares of the company’s stock worth $278,000 after purchasing an additional 655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cheniere Energy Partners by 26.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,913,342 shares of the company’s stock worth $103,684,000 after purchasing an additional 401,548 shares in the last quarter. Wallington Asset Management LLC purchased a new position in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $226,000. Finally, NBC Securities Inc. purchased a new position in shares of Cheniere Energy Partners during the 3rd quarter worth approximately $115,000. Institutional investors and hedge funds own 46.55% of the company’s stock.

Cheniere Energy Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 9th will be given a $0.775 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $3.10 dividend on an annualized basis and a yield of 6.32%. Cheniere Energy Partners’s payout ratio is currently 44.60%.

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.