Insider Buying: Cheniere Energy Inc. (LNG) Insider Purchases 35,063 Shares of Stock
Cheniere Energy Inc. (NYSEMKT:LNG) insider Jack A. Fusco acquired 35,063 shares of Cheniere Energy stock in a transaction dated Monday, September 19th. The stock was acquired at an average cost of $42.78 per share, with a total value of $1,499,995.14. Following the completion of the transaction, the insider now directly owns 340,824 shares of the company’s stock, valued at approximately $14,580,450.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Cheniere Energy Inc. (NYSEMKT:LNG) opened at 42.96 on Wednesday. The firm’s 50-day moving average price is $43.43 and its 200 day moving average price is $37.98. Cheniere Energy Inc. has a 1-year low of $22.80 and a 1-year high of $54.95. The firm’s market capitalization is $9.81 billion.
Cheniere Energy (NYSEMKT:LNG) last released its earnings results 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 firm earned $176.80 million during the quarter, compared to analysts’ expectations of $64.08 million. The firm’s quarterly revenue was up 160.0% compared to the same quarter last year. On average, analysts predict that Cheniere Energy Inc. will post ($1.83) EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. 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. NWQ Investment Management Company LLC acquired a new position in Cheniere Energy during the first quarter worth approximately $69,619,000. Harvest Fund Advisors LLC acquired a new position in Cheniere Energy during the first quarter worth approximately $47,126,000. Norges Bank acquired a new position in Cheniere Energy during the fourth quarter worth approximately $46,510,000. Finally, Cohen & Steers Inc. boosted its position in Cheniere Energy by 2,236.0% in the second quarter. Cohen & Steers Inc. now owns 994,780 shares of the company’s stock worth $37,354,000 after buying an additional 952,196 shares during the period.
LNG has been the subject of several research reports. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Cheniere Energy in a research report on Wednesday, July 20th. Zacks Investment Research raised Cheniere Energy from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, August 16th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $54.00 price objective on shares of Cheniere Energy in a research report on Wednesday, July 6th. Howard Weil raised Cheniere Energy from a “sector perform” rating to a “sector outperform” rating and set a $52.00 price objective for the company in a research report on Tuesday, June 14th. Finally, Wolfe Research started coverage on Cheniere Energy in a research report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.00.
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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