Cheniere Energy (NYSEAMERICAN:LNG) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, The Fly reports.
A number of other equities research analysts have also weighed in on LNG. Morgan Stanley raised Cheniere Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $80.00 in a report on Wednesday, September 26th. Cowen raised Cheniere Energy from a “market perform” rating to an “outperform” rating and set a $76.00 price objective on the stock in a report on Wednesday, September 26th. Barclays set a $78.00 price objective on Cheniere Energy and gave the company a “buy” rating in a report on Friday, October 12th. JPMorgan Chase & Co. started coverage on Cheniere Energy in a report on Wednesday, October 31st. They issued an “overweight” rating on the stock. Finally, Citigroup lowered their price objective on Cheniere Energy from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, November 29th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Cheniere Energy currently has a consensus rating of “Buy” and an average price target of $76.42.
Shares of NYSEAMERICAN LNG traded up $1.01 during midday trading on Wednesday, reaching $60.20. 1,818,200 shares of the company were exchanged, compared to its average volume of 2,256,823. Cheniere Energy has a 1 year low of $50.08 and a 1 year high of $71.03.
Cheniere Energy (NYSEAMERICAN:LNG) last released its quarterly earnings results on Thursday, November 8th. The energy company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company posted ($1.24) earnings per share. The firm’s revenue was up 29.7% on a year-over-year basis.
In other news, insider Jack A. Fusco purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were acquired at an average price of $59.20 per share, with a total value of $888,000.00. Following the purchase, the insider now directly owns 564,599 shares of the company’s stock, valued at $33,424,260.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Sean N. Markowitz purchased 1,700 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average cost of $59.10 per share, for a total transaction of $100,470.00. Following the purchase, the general counsel now directly owns 57,643 shares in the company, valued at $3,406,701.30. The disclosure for this purchase can be found here.
Institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Cheniere Energy by 9.1% during the 2nd quarter. FMR LLC now owns 14,503,528 shares of the energy company’s stock worth $945,486,000 after purchasing an additional 1,215,014 shares during the last quarter. OLD Second National Bank of Aurora raised its position in shares of Cheniere Energy by 54.8% during the 3rd quarter. OLD Second National Bank of Aurora now owns 34,344 shares of the energy company’s stock worth $2,387,000 after purchasing an additional 12,152 shares during the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of Cheniere Energy by 46,476.0% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 11,644 shares of the energy company’s stock worth $809,000 after purchasing an additional 11,619 shares during the last quarter. Brookfield Asset Management Inc. raised its position in shares of Cheniere Energy by 67.0% during the 3rd quarter. Brookfield Asset Management Inc. now owns 1,229,209 shares of the energy company’s stock worth $85,417,000 after purchasing an additional 493,009 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Cheniere Energy by 82.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,649,800 shares of the energy company’s stock worth $107,550,000 after purchasing an additional 745,163 shares during the last quarter.
Cheniere Energy Company Profile
Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company operates in two segments, LNG Terminal Business, and LNG and Natural Gas Marketing. It owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas.
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