Thursday, October 21, 2010

Citigroup (NYSE:C) Downgrades Cheniere Energy Partners (AMEX:CQP)

Citigroup (NYSE:C) downgraded Cheniere Energy Partners (AMEX:CQP) from "Hold" to "Sell."

Cheniere made a nice upward move earlier in 2010, but have remained level since the latter part of April, hovering around the $20 a share mark and a little above.

Concerning cash distributions, Cheniere reported this in a press release Tuesday: [They] declared (i) a cash distribution per common unit of $0.425 ($1.70 annualized) to unit holders of record as of November 1, 2010, and (ii) a cash distribution of $229,121.46 to its general partner. All of these distributions are payable on November 12, 2010.

Cheniere closed at $20.57 Wednesday, gaining $0.07, or 0.34 percent.

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