WES - Cheniere Energy Partners cut to Sell equivalent at J.P. Morgan

Cheniere Energy Partners ([[CQP]] +0.8%) edges higher despite a downgrade to Underweight from Neutral with a $44 price target at J.P. Morgan, which says the name "maintains the lowest beta to WTI prices" in its group with valuation screening as expensive.While JPM's Jeremy Tonet remains constructive on long-term global liquefied natural gas demand, CQP possesses a notably lower free cash flow yield and higher EV/EBITDA valuation.JPM says its top MLP picks for beta include Plains All American Pipeline ([[PAA]] -0.1%) and Western Midstream Partners ([[WES]] +0.5%), its favorite midstreamer overall is Targa Resources ([[TRGP]] +0.5%) while Enterprise Products Partners ([[EPD]] +0.2%) remains its "favorite MLP for offense and defense."Cheniere Energy Partners is "a resilient LNG play poised to benefit from [a] market recovery," Sarfaraz A. Khan writes in a neutral analysis published on Seeking Alpha.

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Cheniere Energy Partners cut to Sell equivalent at J.P. Morgan