Cheniere Energy Partners, a unit of natural gas giant Cheniere Energy, continues to perform well amid rising global demand for natural gas. On Monday, the IBD Relative Strength (RS) Rating for Cheniere Energy Partners stock climbed to a strong 85, of a best-possible 99. Its profits have soared this year, even as its revenue growth has cooled.
Cheniere Energy Partners Stock Joins Top Performers
The 85 RS Rating puts Cheniere Energy Partners stock among the top 15% of all stocks for price appreciation. It's kind of a big deal because over 100 years of market history reveals that the best stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Houston-based Cheniere Energy in 2016 was the first company to start exporting natural gas as U.S. supplies rose in the wake of the fracking technology surge, according to reports. Cheniere Energy Partners owns the Sabine Pass LNG terminal located in Louisiana, which the company says has natural gas liquefaction facilities consisting of six liquefaction facilities that provide natural gas to parent Cheniere Energy for transport and export.
Cheniere Energy Partners stock is building a cup with handle with a 58.77 buy point. See if the stock can clear the breakout price in heavy volume. It's risen in stairstep fashion since hitting a Covid crash low 17.75 in late March 2020, and trades above both its 50-day and 200-day lines.
On Nov. 30 last year Cheniere Energy Partners stock hit an all-time high at 62.08. Monday afternoon it traded around 54.44, down from the high but still up nearly 200% in the last 3-1/2 years.
Triple-Digit Profit Growth Even As Sales Lag
In terms of fundamentals, earnings growth has been very robust the last three quarters. On a percentage growth basis its earnings per share rose 321% to $4.63, more than 1,000% to $3.50 and then 236% last quarter to 84 cents. Meanwhile, sales growth has slowed from 114% four quarters ago to 45%, -12% and then -54% last quarter to $1.933 billion. Keep an eye out for the company's next round of numbers on or around Nov. 2.
Cheniere Energy Partners Stock earns the No. 10 rank among its peers in the 49-stock Oil&Gas-Transportation/Pipeline industry group. Euronav and Frontline are among the group's highest-rated stocks. The group itself ranks a strong No. 39 of the 197 industries that IBD tracks.
When researching the best stocks to buy and watch, a relative price strength score can yield valuable information about a stock.
IBD's unique rating tracks share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
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