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Cheniere Energy Partners LP CQP

Morningstar Rating
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Stock XNYS Rating as of
$47.99 −0.57 (1.17%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Finding Undervalued Opportunities From AI and Data Center Demand in E&Ps and Midstream

Stephen Ellis

We think AI and data center demand offers a potentially sizable growth opportunity across our US E&P and US & Canadian midstream coverage list. We consider Chart Industries, Energy Transfer, Enbridge, Kinder Morgan, and TC Energy as undervalued ways to play this trend. Cheniere Energy and Williams are more fairly valued, while Antero, Range, and likely EQT (not covered) are obvious direct opportunities and appear expensive.

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Price vs Fair Value

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CQP is trading within a range we consider fairly valued.
Price
$48.54
Fair Value
$46.00
Uncertainty
Medium
1-Star Price
$83.50
5-Star Price
$59.50
Economic Moat
Nylf
Capital Allocation
Nkmkwzc

Bulls Say, Bears Say

Bulls

At $600-$700 per ton for incremental capacity expansion projects, Cheniere has some of the lowest-cost LNG projects on the global cost curve, well below the U.S. average of $800 per ton and similar targets by Australian LNG producers.

Bears

If China changes its government policy on higher natural gas consumption, this would likely mean a decline in demand for U.S. LNG.

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News

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Trading Information

Previous Close Price
$48.56
Day Range
$47.77–48.48
52-Week Range
$43.60–62.35
Bid/Ask
$47.91 / $48.24
Market Cap
$23.23 Bil
Volume/Avg
136,063 / 191,646

Key Statistics

Price/Earnings (Normalized)
15.11
Price/Sales
2.60
Dividend Yield (Trailing)
8.04%
Dividend Yield (Forward)
8.04%
Total Yield
8.04%

Company Profile

Cheniere Energy Partners is the direct owner of the Sabine Pass LNG terminals as well as regasification facilities. It also owns the Creole Trail Pipeline, which connects the terminal to third-party gas suppliers. Cheniere Partners shares in the marketing fees generated by Cheniere Marketing from Sabine Pass marketed gas volumes.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Mid Value
Total Number of Employees
1,605
Website
https://www.cheniere.com

Competitors

Valuation

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Metric
CQP
ET
WMB
Price/Earnings (Normalized)
 15.1112.8120.37
Price/Book Value
 —1.763.89
Price/Sales
 2.600.634.57
Price/Cash Flow
 8.184.968.26
Price/Earnings
CQP
ET
WMB

Financial Strength

Metric
CQP
ET
WMB
Quick Ratio
 0.250.930.37
Current Ratio
 0.371.180.52
Interest Coverage
 4.643.184.05
Quick Ratio
CQP
ET
WMB

Profitability

Metric
CQP
ET
WMB
Return on Assets (Normalized)
 12.56%5.75%4.89%
Return on Equity (Normalized)
 —22.11%20.70%
Return on Invested Capital (Normalized)
 19.04%9.47%8.53%
Return on Assets
CQP
ET
WMB
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Oil & Gas Midstream Industry Comparables

Screen in Investor
Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ENB
Enbridge IncKzjpflnnPptzmd$78.6 Bil
EPD
Enterprise Products Partners LPKxwgymqpwKtp$62.9 Bil
ET
Energy Transfer LPTbyxCyvj$53.5 Bil
WMB
Williams Companies IncSdtndmxdHtqlwk$49.2 Bil
OKE
ONEOK IncGqkkshhGkmrj$47.7 Bil
KMI
Kinder Morgan Inc Class PSlbjlnlhwCqvkws$43.1 Bil
MPLX
MPLX LP Partnership UnitsJqvjntjgBngpsh$41.3 Bil
TRP
TC Energy CorpLgkjzzvvJrhjzq$40.1 Bil
LNG
Cheniere Energy IncFbydxfpmCds$36.0 Bil
TRGP
Targa Resources CorpGxgygvrKnxr$25.4 Bil

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