## CQP Under Pressure: B of A Securities Issues Cautious Rating Despite Modest Upside Potential

Bank of America Securities' latest analysis on December 11, 2025, presents a bearish stance on Cheniere Energy Partners, L.P. (CQP), maintaining an **Underperform** rating. However, the research reveals a more nuanced market narrative: while the fundamental outlook remains guarded, price targets suggest limited upside opportunities.

**Price Targets Signal Modest Growth Ahead**

As of early December 2025, Wall Street analysts tracking Cheniere Energy Partners have set an average one-year price target of $57.12 per share—representing a 7.03% potential increase from the stock's closing price of $53.37. The forecast range spans from $45.45 on the conservative end to $74.55 for bullish scenarios. Beyond equity valuation, the company faces headwinds: projected annual revenue is expected to decline 3.38% to 9,960 million, while non-GAAP earnings per share is forecasted at 4.59.

**Institutional Interest Shifts Modestly**

The institutional landscape around CQP shows mixed signals. Currently, 230 funds and institutions hold positions in Cheniere Energy Partners, representing a decline of 7 shareholders (2.95%) compared to the previous quarter. Despite the fewer number of holders, average portfolio allocation actually increased to 0.40%—up 8.20% from earlier periods. Total institutional shareholdings dipped marginally by 0.12% to 239,440,000 shares. The put/call ratio of 0.57 suggests traders maintain a cautiously optimistic view on the energy company's near-term direction.

**Major Stakeholder Positions Remain Stable**

Blackstone Group continues as the largest institutional investor, controlling 102,346,000 shares (21.14% ownership) with no quarterly changes. Brookfield Asset Management holds the second-largest stake at 101,620,000 shares (20.99%), also unchanged. Among diversified holders, AMLP - Alerian MLP ETF increased its position to 9,170,000 shares (1.89%), up 7.27% from prior filings, though the firm trimmed its overall CQP allocation weight by 3.59%.

Similarly, Alps Advisors expanded holdings to 9,002,000 shares (1.86%)—a 2.29% increase—while reducing portfolio concentration by 9.15%. MIRAE Asset Global ETFs added to positions with 2,785,000 shares (0.58% ownership), marking a 2.46% quarterly gain, despite a significant 64.06% decrease in relative portfolio weighting.

The divergence between rising share counts and shrinking portfolio weights among these managers suggests tactical rebalancing rather than conviction-driven accumulation in Cheniere Energy Partners' partnership units.