Cheniere Energy, Inc. (NYSEAMERICAN:LNG) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 7,650,000 shares, an increase of 9.8% from the June 30th total of 6,970,000 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is presently 3.5 days.
LNG has been the subject of a number of research analyst reports. Cfra reduced their price objective on shares of Cheniere Energy from $57.00 to $51.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of Cheniere Energy in a research report on Sunday, May 10th. Raymond James lifted their price objective on shares of Cheniere Energy from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Bank of America cut shares of Cheniere Energy from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Friday, May 1st. Finally, Morgan Stanley raised shares of Cheniere Energy from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $76.00 to $64.00 in a research report on Tuesday, May 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.91.
Several large investors have recently added to or reduced their stakes in LNG. Shine Investment Advisory Services Inc. boosted its holdings in Cheniere Energy by 53.2% in the second quarter. Shine Investment Advisory Services Inc. now owns 798 shares of the energy company’s stock valued at $39,000 after acquiring an additional 277 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Cheniere Energy during the first quarter worth approximately $27,000. GQ Asset Management LLC purchased a new stake in Cheniere Energy in the 1st quarter valued at $33,000. Synovus Financial Corp raised its position in Cheniere Energy by 6,150.0% in the 1st quarter. Synovus Financial Corp now owns 1,000 shares of the energy company’s stock valued at $34,000 after buying an additional 984 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Cheniere Energy by 234.3% in the 1st quarter. Parallel Advisors LLC now owns 1,033 shares of the energy company’s stock valued at $34,000 after buying an additional 724 shares during the last quarter.
LNG stock opened at $49.48 on Friday. Cheniere Energy has a 52 week low of $27.06 and a 52 week high of $67.49.
Cheniere Energy (NYSEAMERICAN:LNG) last issued its earnings results on Thursday, April 30th. The energy company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.96. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.62 billion.
About Cheniere Energy
Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas. It also owns Creole Trail pipeline, a 94-mile pipeline interconnecting the Sabine Pass LNG terminal with various interstate pipelines; and operates Corpus Christi pipeline, a 23-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.
Further Reading: Coverage Ratio
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