Zacks Research Has Bullish Outlook for CQP FY2024 Earnings

Cheniere Energy Partners (NYSE:CQP) – Analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Cheniere Energy Partners in a report released on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $4.22 for the year, up from their previous forecast of $4.18. The consensus estimate for Cheniere Energy Partners’ current full-year earnings is $4.25 per share. Zacks Research also issued estimates for Cheniere Energy Partners’ FY2026 earnings at $3.94 EPS.

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

Cheniere Energy Partners Stock Performance

Shares of Cheniere Energy Partners stock opened at $55.76 on Monday. The stock has a market cap of $26.99 billion, a PE ratio of 12.03 and a beta of 0.67. Cheniere Energy Partners has a 12 month low of $45.51 and a 12 month high of $62.34.

Cheniere Energy Partners (NYSE:CQP) last released its quarterly 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). Cheniere Energy Partners had a net margin of 31.28% and a negative return on equity of 328.60%. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the business earned $0.84 EPS. The business’s revenue was down 3.4% on a year-over-year basis.

Hedge Funds Weigh In On Cheniere Energy Partners

Several institutional investors have recently modified their holdings of CQP. Fred Alger Management LLC grew its position in Cheniere Energy Partners by 12.7% during the 3rd quarter. Fred Alger Management LLC now owns 52,962 shares of the company’s stock worth $2,580,000 after acquiring an additional 5,969 shares during the last quarter. Empowered Funds LLC grew its position in Cheniere Energy Partners by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 31,514 shares of the company’s stock worth $1,535,000 after acquiring an additional 1,043 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Cheniere Energy Partners during the 3rd quarter worth approximately $1,286,000. Montchanin Asset Management LLC grew its position in Cheniere Energy Partners by 2.6% during the 3rd quarter. Montchanin Asset Management LLC now owns 19,515 shares of the company’s stock worth $951,000 after acquiring an additional 500 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in Cheniere Energy Partners during the 3rd quarter worth approximately $866,000. 46.55% of the stock is currently owned by institutional investors.

Cheniere Energy Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.14 annualized dividend and a dividend yield of 0.25%. Cheniere Energy Partners’s dividend payout ratio (DPR) is presently 66.95%.

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.