Cheniere Energy, Inc. (LNG) Sees Large Drop in Short Interest
Cheniere Energy, Inc. (NYSE:LNG) was the recipient of a large decline in short interest during the month of October. As of October 13th, there was short interest totalling 15,469,413 shares, a decline of 1.5% from the September 29th total of 15,707,484 shares. Based on an average daily volume of 1,717,536 shares, the short-interest ratio is presently 9.0 days. Approximately 6.6% of the shares of the stock are sold short.
Cheniere Energy (NYSE LNG) opened at 45.17 on Wednesday. The firm has a 50-day moving average price of $45.00 and a 200 day moving average price of $45.97. Cheniere Energy has a one year low of $35.07 and a one year high of $51.41. The firm’s market capitalization is $10.50 billion.
In related news, insider Jack A. Fusco acquired 23,750 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average cost of $42.32 per share, for a total transaction of $1,005,100.00. Following the transaction, the insider now directly owns 399,985 shares of the company’s stock, valued at approximately $16,927,365.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael J. Wortley acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $41.96 per share, with a total value of $209,800.00. Following the completion of the transaction, the chief financial officer now directly owns 433,830 shares in the company, valued at $18,203,506.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,750 shares of company stock valued at $1,257,000 over the last 90 days.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Cheniere Energy by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,633,858 shares of the energy company’s stock valued at $858,946,000 after acquiring an additional 653,176 shares in the last quarter. FMR LLC lifted its position in shares of Cheniere Energy by 482.7% in the 2nd quarter. FMR LLC now owns 6,741,287 shares of the energy company’s stock valued at $328,368,000 after acquiring an additional 5,584,446 shares in the last quarter. Steadfast Capital Management LP lifted its position in shares of Cheniere Energy by 44.2% in the 2nd quarter. Steadfast Capital Management LP now owns 2,741,466 shares of the energy company’s stock valued at $133,537,000 after acquiring an additional 839,724 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Cheniere Energy by 26.8% in the 2nd quarter. Macquarie Group Ltd. now owns 2,474,425 shares of the energy company’s stock valued at $120,529,000 after acquiring an additional 522,600 shares in the last quarter. Finally, Brookfield Asset Management Inc. lifted its position in shares of Cheniere Energy by 43.3% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,873,390 shares of the energy company’s stock valued at $91,253,000 after acquiring an additional 566,100 shares in the last quarter.
Several brokerages recently issued reports on LNG. Zacks Investment Research downgraded Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub upgraded Cheniere Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 6th. ValuEngine downgraded Cheniere Energy from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BMO Capital Markets started coverage on Cheniere Energy in a report on Monday, September 25th. They issued an “outperform” rating and a $60.00 price target for the company. Finally, Scotiabank set a $52.00 price target on Cheniere Energy and gave the company a “buy” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Cheniere Energy currently has a consensus rating of “Buy” and an average price target of $54.82.
About Cheniere Energy
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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