BidaskClub upgraded shares of Cheniere Energy, Inc. (NYSE:LNG) from a sell rating to a hold rating in a research note published on Saturday morning.
Other research analysts have also issued reports about the company. Scotiabank reiterated a buy rating and issued a $52.00 price objective on shares of Cheniere Energy in a research report on Wednesday, October 25th. Zacks Investment Research lowered Cheniere Energy from a strong-buy rating to a hold rating in a research report on Wednesday, July 19th. BMO Capital Markets initiated coverage on Cheniere Energy in a research report on Monday, September 25th. They issued an outperform rating and a $60.00 price objective on the stock. J P Morgan Chase & Co decreased their price objective on Cheniere Energy from $36.00 to $35.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, ValuEngine lowered Cheniere Energy from a hold rating to a sell rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Cheniere Energy currently has an average rating of Buy and an average price target of $52.61.
Shares of Cheniere Energy (NYSE LNG) traded up $1.62 on Friday, reaching $48.96. The company’s stock had a trading volume of 2,722,377 shares, compared to its average volume of 2,160,000. Cheniere Energy has a 52-week low of $35.07 and a 52-week high of $51.41.
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In related news, insider Jack A. Fusco purchased 23,750 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were bought at an average price of $42.32 per share, with a total value of $1,005,100.00. Following the purchase, the insider now directly owns 399,985 shares in the company, valued at approximately $16,927,365.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael J. Wortley purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average cost of $41.96 per share, for a total transaction of $209,800.00. Following the purchase, the chief financial officer now owns 433,830 shares in the company, valued at $18,203,506.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 29,750 shares of company stock worth $1,257,000.
A number of institutional investors have recently modified their holdings of LNG. FMR LLC raised its stake in Cheniere Energy by 482.7% during the 2nd quarter. FMR LLC now owns 6,741,287 shares of the energy company’s stock worth $328,368,000 after buying an additional 5,584,446 shares during the period. Steadfast Capital Management LP raised its stake in Cheniere Energy by 44.2% during the 2nd quarter. Steadfast Capital Management LP now owns 2,741,466 shares of the energy company’s stock worth $133,537,000 after buying an additional 839,724 shares during the period. Vanguard Group Inc. raised its stake in Cheniere Energy by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,633,858 shares of the energy company’s stock worth $858,946,000 after buying an additional 653,176 shares during the period. Brookfield Asset Management Inc. raised its stake in Cheniere Energy by 43.3% during the 2nd 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 period. Finally, State of New Jersey Common Pension Fund D raised its stake in Cheniere Energy by 110.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the energy company’s stock worth $48,710,000 after buying an additional 525,000 shares during the period.
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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