Credit Suisse Group AG Begins Coverage on Cheniere Energy Inc. (LNG)
Equities research analysts at Credit Suisse Group AG started coverage on shares of Cheniere Energy Inc. (NYSEMKT:LNG) in a research note issued on Wednesday. The firm set an “outperform” rating on the stock.
Several other research analysts have also weighed in on LNG. Howard Weil raised Cheniere Energy from a “sector perform” rating to a “sector outperform” rating and set a $52.00 target price on the stock in a research report on Tuesday, June 14th. Scotiabank upgraded Cheniere Energy from a “sector perform” rating to a “sector outperform” rating and set a $52.00 target price for the company in a research note on Tuesday, June 14th. Wolfe Research initiated coverage on Cheniere Energy in a research report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Morgan Stanley reiterated an “overweight” rating on shares of Cheniere Energy in a research report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cheniere Energy in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.67.
Shares of Cheniere Energy (NYSEMKT:LNG) opened at 42.00 on Wednesday. Cheniere Energy has a 12-month low of $22.80 and a 12-month high of $51.96. The firm’s 50-day moving average price is $43.41 and its 200 day moving average price is $38.68. The stock’s market capitalization is $9.59 billion.
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Cheniere Energy (NYSEMKT:LNG) last issued its earnings results on Tuesday, August 9th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.46) by $0.15. The business earned $176.80 million during the quarter, compared to the consensus estimate of $64.08 million. The company’s revenue for the quarter was up 160.0% compared to the same quarter last year. Analysts predict that Cheniere Energy will post ($1.97) EPS for the current fiscal year.
In related news, Director Nuno Brandolini sold 8,999 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $45.34, for a total transaction of $408,014.66. Following the completion of the sale, the director now directly owns 249,602 shares of the company’s stock, valued at approximately $11,316,954.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jack A. Fusco purchased 35,063 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were acquired at an average cost of $42.78 per share, with a total value of $1,499,995.14. Following the completion of the acquisition, the insider now directly owns 340,824 shares in the company, valued at $14,580,450.72. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Cheniere Energy during the second quarter valued at approximately $101,000. Mizuho Asset Management Co. Ltd. boosted its stake in Cheniere Energy by 77.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,688 shares of the company’s stock valued at $101,000 after buying an additional 1,171 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Cheniere Energy by 11.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,040 shares of the company’s stock valued at $114,000 after buying an additional 315 shares during the period. US Bancorp DE boosted its stake in Cheniere Energy by 63.0% in the second quarter. US Bancorp DE now owns 3,596 shares of the company’s stock valued at $134,000 after buying an additional 1,390 shares during the period. Finally, AXA boosted its stake in Cheniere Energy by 22.4% in the first quarter. AXA now owns 4,246 shares of the company’s stock valued at $144,000 after buying an additional 776 shares during the period.
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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