Cheniere Energy Partners LP
CQP—
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Cheniere Energy Partners LP AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity (-348M) with 14.8B debt yet generating 2.5B FCF TTM - classic infrastructure MLP structure funding 8.5% distribution yield[Common Stockholders Equity]
- Operating margin 29.6% TTM vs industry median 27.1% while revenue 8.7x larger than median peer - scale advantage monetized[Operating Margin TTM]
- FCF of 2.5B TTM covers 2.0B distributions 1.25x despite 764M interest burden - sustainable payout with cushion[Free Cash Flow TTM]
Watch Triggers
- Interest Expense TTM: Exceeds 850M or interest coverage falls below 4x — Debt service consuming FCF would threaten distribution sustainability
- Free Cash Flow TTM: Falls below 2.0B (current distribution level) — Distribution coverage below 1.0x signals potential cut
- Total Revenue TTM: Continues declining beyond -25% from peak — Further LNG price normalization could accelerate margin compression
Bull Case
LNG infrastructure generates 2.5B FCF TTM on 225M capex (11x conversion) - asset-light cash machine funding 8.5% yield
Free Cash Flow TTMCapital Expenditure TTMDividends Paid Per Share TTM
P/E of 14.0x vs industry median 15.0x despite 22.5% net margin (1.8x industry median) - undervalued profitability
PE RatioNet Margin TTM
Bear Case
14.8B debt on -348M equity creates 3.9x debt/EBITDA - rising rates or volume decline could stress coverage
Total DebtCommon Stockholders EquityEBITDA TTM
Revenue down 21.5% 3Y CAGR despite 19.6% 5Y growth - LNG price normalization compressing topline
Total Revenue 3yr GrowthTotal Revenue 5yr Growth
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Distribution coverage will expand as debt refinancing reduces 764M annual interest expense
1-3ymed
- Interest expense is 5.2% of 14.8B debt - refinancing opportunity as rates normalize
- Capex only 225M TTM vs 2.8B industry median - mature asset base
- 3.8B EBITDA TTM provides 4.9x interest coverage
Interest Expense TTM: 764M on 14.8B total debtEBITDA TTM: 3.8B vs 409M industry medianFCF TTM: 2.5B after minimal capex
Valuation Context
Caveats
Public Strategies Rankings
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CQP Fundamentals
Transportation and Warehousing → Pipeline Transportation
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$30.73B | — | ||
$45.02B | — | ||
12 | — | ||
$10.76B | +23.6% | — | |
$5.17 | +21.8% | — | |
34.5% | -3.2% | — | |
27.8% | -1.1% | — | |
$2.57B | -8.7% | — | |
-6,288% | — | ||
Beta 5Y (Monthly) | unknown | — |
CQP Dividend History
76 dividends
2026
$0.830002/09/26$0.8300
2025
$3.290011/07/25$0.8300
08/08/25$0.8200
05/09/25$0.8200
02/10/25$0.8200
2024
$3.465011/04/24$0.8100
08/07/24$0.8100
05/08/24$0.8100
02/06/24$1.0350
2023
$4.160011/03/23$1.0300
08/04/23$1.0300
05/05/23$1.0300
02/03/23$1.0700
2022
$3.880011/02/22$1.0700
08/03/22$1.0600
05/04/22$1.0500
02/04/22$0.7000
2021
$2.660011/04/21$0.6800
08/05/21$0.6650
05/05/21$0.6600
02/05/21$0.6550
2020
$2.565011/05/20$0.6500
08/06/20$0.6450
05/06/20$0.6400
02/06/20$0.6300
2019
$2.420011/06/19$0.6200
08/05/19$0.6100
05/06/19$0.6000
02/05/19$0.5900
2018
$2.190011/02/18$0.5800
08/03/18$0.5600
05/04/18$0.5500
02/01/18$0.5000
2017
$1.715011/02/17$0.4400
07/28/17$0.4250
04/28/17$0.4250
01/31/17$0.4250
2016
$1.700010/28/16$0.4250
07/28/16$0.4250
04/28/16$0.4250
01/28/16$0.4250
2015
$1.700010/29/15$0.4250
07/30/15$0.4250
04/29/15$0.4250
01/29/15$0.4250
2014
$1.700010/30/14$0.4250
07/30/14$0.4250
04/29/14$0.4250
01/30/14$0.4250
2013
$1.700010/30/13$0.4250
07/30/13$0.4250
04/29/13$0.4250
01/30/13$0.4250
2012
$1.700010/31/12$0.4250
07/30/12$0.4250
04/27/12$0.4250
01/30/12$0.4250
2011
$1.700010/28/11$0.4250
07/28/11$0.4250
04/28/11$0.4250
01/28/11$0.4250
2010
$1.700010/28/10$0.4250
07/29/10$0.4250
04/29/10$0.4250
01/28/10$0.4250
2009
$1.700010/29/09$0.4250
07/30/09$0.4250
04/29/09$0.4250
01/29/09$0.4250
2008
$1.700010/30/08$0.4250
07/30/08$0.4250
04/29/08$0.4250
01/30/08$0.4250
2007
$0.878010/30/07$0.4250
07/30/07$0.4250
04/27/07$0.0280
CQP Stock Splits
No stock splits
CQP SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/26/26 | 12/31/25 | Unknown | |
10/30/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
02/20/25 | 12/31/24 | 10-K | |
10/31/24 | 09/30/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
02/22/24 | 12/31/23 | 10-K | |
11/02/23 | 09/30/23 | 10-Q | |
08/03/23 | 06/30/23 | 10-Q | |
05/02/23 | 03/31/23 | 10-Q | |
02/23/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/04/21 | 03/31/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
11/06/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
02/25/20 | 12/31/19 | 10-K | |
11/01/19 | 09/30/19 | 10-Q | |
08/08/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
02/26/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/09/18 | 06/30/18 | 10-Q | |
05/04/18 | 03/31/18 | 10-Q | |
02/21/18 | 12/31/17 | 10-K | |
11/09/17 | 09/30/17 | 10-Q | |
08/08/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/24/17 | 12/31/16 | 10-K | |
11/03/16 | 09/30/16 | 10-Q | |
08/09/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/19/16 | 12/31/15 | 10-K | |
10/30/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/20/15 | 12/31/14 | 10-K | |
10/30/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
02/21/14 | 12/31/13 | 10-K | |
11/08/13 | 09/30/13 | 10-Q | |
08/02/13 | 06/30/13 | 10-Q | |
05/03/13 | 03/31/13 | 10-Q | |
02/22/13 | 12/31/12 | 10-K | |
11/02/12 | 09/30/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/04/12 | 03/31/12 | 10-Q | |
02/24/12 | 12/31/11 | 10-K | |
11/07/11 | 09/30/11 | 10-Q | |
08/05/11 | 06/30/11 | 10-Q | |
05/06/11 | 03/31/11 | 10-Q | |
03/03/11 | 12/31/10 | 10-K | |
11/05/10 | 09/30/10 | 10-Q | |
08/06/10 | 06/30/10 | 10-Q | |
09/12/11 | 03/31/10 | 10-Q/A | |
05/07/10 | 03/31/10 | 10-Q | |
02/26/10 | 12/31/09 | 10-K | |
09/12/11 | 12/31/09 | 10-K/A | |
11/06/09 | 09/30/09 | 10-Q | |
08/07/09 | 06/30/09 | 10-Q | |
05/08/09 | 03/30/09 | 10-Q | |
02/27/09 | 12/31/08 | 10-K | |
11/07/08 | 09/30/08 | 10-Q | |
08/11/08 | 06/30/08 | 10-Q | |
05/09/08 | 03/30/08 | Unknown | -- |
02/27/08 | 12/31/07 | 10-K | |
11/06/07 | 09/30/07 | 10-Q | |
08/08/07 | 06/30/07 | 10-Q | |
05/09/07 | 03/30/07 | Unknown | -- |
12/31/06 | 12/31/06 | Unknown | -- |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | Unknown | -- |
03/31/06 | 03/30/06 | Unknown | -- |
12/31/05 | 12/31/05 | Unknown | -- |
09/30/05 | 09/30/05 | Unknown | -- |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/30/05 | Unknown | -- |