Equities research analysts forecast that Cheniere Energy Partners LP (NYSE:CQP) will announce $1.14 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Cheniere Energy Partners’ earnings. The lowest sales estimate is $1.10 billion and the highest is $1.17 billion. Cheniere Energy Partners reported sales of $331.41 million in the same quarter last year, which would suggest a positive year over year growth rate of 244%. The business is expected to report its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Cheniere Energy Partners will report full-year sales of $1.14 billion for the current financial year, with estimates ranging from $3.34 billion to $4.46 billion. For the next financial year, analysts forecast that the company will report sales of $5.77 billion per share, with estimates ranging from $5.33 billion to $6.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Cheniere Energy Partners.
Cheniere Energy Partners (NYSE:CQP) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($3.71) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($4.19). Cheniere Energy Partners had a return on equity of 39.76% and a net margin of 4.64%. The business had revenue of $992.00 million during the quarter, compared to the consensus estimate of $771.91 million.
A number of brokerages have recently issued reports on CQP. Zacks Investment Research raised Cheniere Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Morgan Stanley downgraded Cheniere Energy Partners from an “overweight” rating to an “equal weight” rating and set a $33.00 price objective on the stock. in a research note on Tuesday, June 13th. Barclays PLC downgraded Cheniere Energy Partners from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 18th. Scotiabank set a $34.00 price objective on Cheniere Energy Partners and gave the company a “hold” rating in a research note on Saturday, July 22nd. Finally, BMO Capital Markets began coverage on Cheniere Energy Partners in a research note on Monday, September 25th. They issued an “outperform” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.50.
Shares of Cheniere Energy Partners (NYSE:CQP) opened at 28.58 on Tuesday. The company has a market capitalization of $13.83 billion and a P/E ratio of 100.28. The firm has a 50 day moving average price of $27.76 and a 200 day moving average price of $30.39. Cheniere Energy Partners has a one year low of $25.97 and a one year high of $33.47.
Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp bought a new stake in Cheniere Energy Partners in the 1st quarter valued at about $185,000. Virtu KCG Holdings LLC bought a new stake in Cheniere Energy Partners in the 2nd quarter valued at about $225,000. Advisor Group Inc. increased its position in Cheniere Energy Partners by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 9,228 shares of the company’s stock valued at $299,000 after buying an additional 149 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Cheniere Energy Partners by 0.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,256 shares of the company’s stock valued at $300,000 after buying an additional 63 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Cheniere Energy Partners by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,240 shares of the company’s stock valued at $332,000 after buying an additional 701 shares in the last quarter.
Cheniere Energy Partners Company Profile
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), it is developing, constructing and operating natural gas liquefaction facilities (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast.
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