Cheniere Energy Inc. (LNG) Coverage Initiated by Analysts at Credit Suisse Group AG
Credit Suisse Group AG began coverage on shares of Cheniere Energy Inc. (NYSEMKT:LNG) in a research note released on Wednesday. The firm issued an outperform rating and a $53.00 price objective on the stock.
A number of other research firms have also commented on LNG. Zacks Investment Research lowered Cheniere Energy from a hold rating to a sell rating in a research report on Wednesday. Scotiabank upgraded Cheniere Energy from a sector perform rating to a sector outperform rating and set a $52.00 price target on the stock in a research report on Tuesday, June 14th. Morgan Stanley reiterated an overweight rating on shares of Cheniere Energy in a research report on Wednesday, June 29th. JPMorgan Chase & Co. reiterated a buy rating on shares of Cheniere Energy in a research report on Tuesday, June 28th. Finally, Barclays PLC cut their target price on Cheniere Energy from $64.00 to $53.00 and set an overweight rating on the stock in a research report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $54.50.
Cheniere Energy (NYSEMKT:LNG) opened at 41.71 on Wednesday. Cheniere Energy has a 12-month low of $22.80 and a 12-month high of $51.96. The company’s market cap is $9.52 billion. The company has a 50-day moving average price of $43.33 and a 200 day moving average price of $38.70.
Cheniere Energy (NYSEMKT:LNG) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by $0.15. The company earned $176.80 million during the quarter, compared to analyst estimates of $64.08 million. The business’s revenue for the quarter was up 160.0% on a year-over-year basis. On average, analysts forecast that Cheniere Energy will post ($1.97) EPS for the current fiscal year.
In related news, CEO Jack A. Fusco purchased 37,604 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was purchased at an average cost of $39.89 per share, with a total value of $1,500,023.56. Following the completion of the acquisition, the chief executive officer now directly owns 306,180 shares of the company’s stock, valued at $12,213,520.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Wortley sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $44.96, for a total value of $67,440.00. Following the completion of the transaction, the chief financial officer now directly owns 413,615 shares of the company’s stock, valued at $18,596,130.40. The disclosure for this sale can be found here.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Cheniere Energy by 5.7% in the second quarter. Vanguard Group Inc. now owns 15,751,295 shares of the company’s stock worth $591,461,000 after buying an additional 846,123 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in Cheniere Energy by 35.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,883,235 shares of the company’s stock worth $108,265,000 after buying an additional 753,887 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Cheniere Energy by 3,397.0% in the second quarter. Neuberger Berman Group LLC now owns 2,683,717 shares of the company’s stock worth $100,774,000 after buying an additional 2,606,973 shares during the last quarter. Harvest Fund Advisors LLC increased its stake in Cheniere Energy by 63.0% in the second quarter. Harvest Fund Advisors LLC now owns 2,270,726 shares of the company’s stock worth $85,266,000 after buying an additional 877,708 shares during the last quarter. Finally, NWQ Investment Management Company LLC purchased a new stake in Cheniere Energy during the first quarter worth $69,619,000.
About Cheniere Energy
Cheniere Energy, Inc 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 The Company owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P.
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