Zacks Investment Research upgraded shares of Cheniere Energy (NYSEAMERICAN:LNG) from a strong sell rating to a hold rating in a research report released on Monday, January 8th.
According to Zacks, “Cheniere Energy – with its first-mover advantage in exporting liquefied natural gas from the U.S. – is primed for significant revenue and earnings growth. The company is the only LNG exporter of the U.S. and plans to turn the natural gas glut into export revolution, currently exporting to over 20 countries. Further, Cheniere Energy's long term contracts protect its future income and lowers exposure to commodity price fluctuations, while offering excellent cash flow visibility. The company's recent gas supply deals with Poland, Lithuania and South Korea is likely to boost its revenue growth trajectory in the coming years. However, setting up natural gas liquefaction plants is a costly affair that requires high capital spending. This has translated into a huge debt burden for the company, thereby deteriorating its leverage and credit metrics. Therefore, we take a cautious stance on the prospects of the stock.”
Several other research analysts also recently issued reports on LNG. Stifel Nicolaus initiated coverage on Cheniere Energy in a research note on Thursday, January 4th. They set a buy rating and a $65.00 price target for the company. Cowen initiated coverage on Cheniere Energy in a research note on Friday, November 17th. They set a market perform rating and a $56.00 price target for the company. Citigroup lifted their price target on Cheniere Energy from $57.00 to $59.00 and gave the stock a buy rating in a research note on Thursday, November 16th. BidaskClub raised Cheniere Energy from a sell rating to a hold rating in a research note on Saturday, November 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Cheniere Energy from $36.00 to $35.00 and set an overweight rating for the company in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $54.46.
Cheniere Energy (NYSEAMERICAN LNG) traded up $1.08 during trading hours on Monday, reaching $55.81. 3,572,703 shares of the company were exchanged, compared to its average volume of 2,362,800. Cheniere Energy has a 1 year low of $40.36 and a 1 year high of $56.80. The stock has a market cap of $13,000.00, a price-to-earnings ratio of -31.71 and a beta of 1.81.
Cheniere Energy (NYSEAMERICAN:LNG) last posted its quarterly earnings data on Tuesday, November 14th. The energy company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($1.08). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Cheniere Energy’s revenue was up 201.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) EPS.
In other news, Director Vicky A. Bailey sold 5,800 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $54.44, for a total transaction of $315,752.00. Following the completion of the transaction, the director now directly owns 35,765 shares in the company, valued at approximately $1,947,046.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David B. Kilpatrick sold 20,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $49.15, for a total value of $983,000.00. Following the transaction, the director now owns 2,464 shares of the company’s stock, valued at $121,105.60. The disclosure for this sale can be found here. Insiders have sold a total of 45,800 shares of company stock valued at $2,299,152 in the last quarter.
Several institutional investors have recently added to or reduced their stakes in LNG. Schwab Charles Investment Management Inc. boosted its stake in shares of Cheniere Energy by 4.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 405,913 shares of the energy company’s stock valued at $19,773,000 after buying an additional 17,200 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in shares of Cheniere Energy during the 2nd quarter valued at approximately $1,040,000. Pacer Advisors Inc. raised its position in shares of Cheniere Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 5,385 shares of the energy company’s stock valued at $262,000 after acquiring an additional 413 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Cheniere Energy by 7.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,256 shares of the energy company’s stock valued at $451,000 after acquiring an additional 606 shares in the last quarter. Finally, Fiduciary Trust Co. acquired a new stake in shares of Cheniere Energy during the 2nd quarter valued at approximately $188,000.
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Cheniere Energy Company Profile
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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