Zacks Investment Research upgraded shares of Cheniere Energy (NYSEAMERICAN:LNG) from a strong sell rating to a hold rating in a research note released on Monday, January 8th.
According to Zacks, “Cheniere Energy – with its first-mover advantage in exporting liquefied natural gas from the U.S. – is primed for significant revenue and earnings growth. The company is the only LNG exporter of the U.S. and plans to turn the natural gas glut into export revolution, currently exporting to over 20 countries. Further, Cheniere Energy's long term contracts protect its future income and lowers exposure to commodity price fluctuations, while offering excellent cash flow visibility. The company's recent gas supply deals with Poland, Lithuania and South Korea is likely to boost its revenue growth trajectory in the coming years. However, setting up natural gas liquefaction plants is a costly affair that requires high capital spending. This has translated into a huge debt burden for the company, thereby deteriorating its leverage and credit metrics. Therefore, we take a cautious stance on the prospects of the stock.”
Several other analysts have also weighed in on the stock. BidaskClub raised shares of Cheniere Energy from a sell rating to a hold rating in a report on Saturday, November 4th. Scotiabank reissued a buy rating and set a $52.00 price target on shares of Cheniere Energy in a research note on Wednesday, October 25th. Citigroup increased their price target on shares of Cheniere Energy from $57.00 to $59.00 and gave the company a buy rating in a research note on Thursday, November 16th. BMO Capital Markets started coverage on shares of Cheniere Energy in a research note on Monday, September 25th. They set an outperform rating and a $60.00 price target on the stock. Finally, Cowen started coverage on shares of Cheniere Energy in a research note on Friday, November 17th. They set a market perform rating and a $56.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $54.46.
Cheniere Energy (NYSEAMERICAN:LNG) last posted its quarterly earnings results on Tuesday, November 14th. The energy company reported ($1.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($1.08). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned ($0.41) earnings per share. The firm’s quarterly revenue was up 201.7% on a year-over-year basis.
In related news, Director Nuno Brandolini sold 20,000 shares of Cheniere Energy stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $50.02, for a total transaction of $1,000,400.00. Following the completion of the sale, the director now owns 232,271 shares of the company’s stock, valued at approximately $11,618,195.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky A. Bailey sold 5,800 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $54.44, for a total transaction of $315,752.00. Following the completion of the sale, the director now directly owns 35,765 shares of the company’s stock, valued at approximately $1,947,046.60. The disclosure for this sale can be found here. In the last three months, insiders sold 45,800 shares of company stock valued at $2,299,152.
Several large investors have recently modified their holdings of LNG. Point72 Asset Management L.P. increased its position in Cheniere Energy by 899.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,944 shares of the energy company’s stock worth $47,335,000 after purchasing an additional 945,777 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Cheniere Energy by 22.1% during the second quarter. Janus Henderson Group PLC now owns 42,389 shares of the energy company’s stock worth $2,065,000 after buying an additional 7,667 shares during the last quarter. Brookfield Asset Management Inc. raised its holdings in Cheniere Energy by 43.3% during the second quarter. Brookfield Asset Management Inc. now owns 1,873,390 shares of the energy company’s stock worth $91,253,000 after buying an additional 566,100 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Cheniere Energy by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 368,680 shares of the energy company’s stock worth $16,582,000 after buying an additional 4,247 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in shares of Cheniere Energy by 6.5% in the third quarter. Hennessy Advisors Inc. now owns 1,600,417 shares of the energy company’s stock valued at $72,083,000 after purchasing an additional 98,000 shares during the last quarter.
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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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