Cheniere Energy Rating Reiterated by Credit Suisse (LNG)
Cheniere Energy (NYSE:LNG)‘s stock had its “outperform” rating restated by stock analysts at Credit Suisse in a research note issued to investors on Wednesday, Analyst Ratings.Net reports. They currently have a $86.00 price objective on the stock. Credit Suisse’s price objective would indicate a potential upside of 25.64% from the stock’s previous close.
In related news, VP Greg W. Rayford sold 12,000 shares of Cheniere Energy stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $68.24, for a total value of $818,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charif Souki sold 50,000 shares of Cheniere Energy stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $67.62, for a total value of $3,381,000.00. The disclosure for this sale can be found here.
Several other research firms have also recently issued reports on LNG. Goldman Sachs cut shares of Cheniere Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $88.00 to $81.00 in a report on Monday, May 18th. Citigroup Inc. restated a “neutral” rating and set a $72.00 price target on shares of Cheniere Energy in a research report on Monday, July 6th. BTIG Research reiterated a “buy” rating on shares of Cheniere Energy in a research report on Tuesday, July 21st. Global Hunter Securities started coverage on shares of Cheniere Energy in a research report on Wednesday, July 22nd. They set an “accumulate” rating and a $76.00 price objective for the company. Finally, Zacks lowered shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $83.10.
Shares of Cheniere Energy (NYSE:LNG) traded up 5.62% during mid-day trading on Wednesday, hitting $68.45. 10,000,786 shares of the stock traded hands. The stock’s market cap is $15.49 billion. Cheniere Energy has a 12-month low of $58.10 and a 12-month high of $85.00. The firm’s 50 day moving average price is $67.60 and its 200-day moving average price is $73.61.
Cheniere Energy (NYSE:LNG) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the analysts’ consensus estimate of ($0.32) by $0.20. During the same quarter in the prior year, the company posted ($0.90) EPS. Analysts predict that Cheniere Energy will post ($1.92) earnings per share for the current year.
Cheniere Energy, Inc. is an energy company engaged in Liquefied natural gas (NYSE:LNG) 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. (Cheniere Partners), which is a publicly traded limited partnership. The Company owns 100% of the general partner interest in Cheniere Partners and 80.1% of Cheniere Energy Partners LP Holdings, LLC (Cheniere Holdings), which is a publicly traded limited liability company that owns a 55.9% limited partner interest in Cheniere Partners. The Company is engaged in the development of two LNG terminal projects: the Sabine Pass LNG terminal in western Cameron Parish, Louisiana, and the Corpus Christi LNG terminal near Corpus Christi, Texas.
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