Cheniere Energy, Inc. (NYSE:LNG) had its price objective cut by J P Morgan Chase & Co from $36.00 to $35.00 in a research note issued to investors on Wednesday. They currently have an overweight rating on the energy company’s stock.
A number of other equities research analysts also recently weighed in on LNG. Zacks Investment Research upgraded shares of Cheniere Energy from a hold rating to a strong-buy rating and set a $56.00 price target on the stock in a research note on Tuesday, July 4th. Scotiabank set a $52.00 price target on shares of Cheniere Energy and gave the stock a buy rating in a research note on Friday, July 21st. BidaskClub downgraded shares of Cheniere Energy from a hold rating to a sell rating in a research note on Thursday, July 27th. ValuEngine downgraded shares of Cheniere Energy from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, BMO Capital Markets initiated 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $52.61.
Shares of Cheniere Energy (LNG) traded up $1.62 during mid-day trading on Wednesday, reaching $48.96. 2,722,377 shares of the company were exchanged, compared to its average volume of 2,160,000. Cheniere Energy has a fifty-two week low of $35.07 and a fifty-two week high of $51.41.
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In related news, General Counsel Sean N. Markowitz purchased 1,000 shares of Cheniere Energy stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average price of $42.10 per share, for a total transaction of $42,100.00. Following the transaction, the general counsel now directly owns 10,022 shares in the company, valued at $421,926.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael J. Wortley purchased 5,000 shares of Cheniere Energy stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $41.96 per share, for a total transaction of $209,800.00. Following the transaction, 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. Insiders bought a total of 29,750 shares of company stock worth $1,257,000 in the last 90 days.
A number of hedge funds and other institutional investors have recently modified their holdings of LNG. Tower Research Capital LLC TRC acquired a new position in Cheniere Energy during the 2nd quarter worth about $121,000. Van ECK Associates Corp lifted its position in Cheniere Energy by 11.7% during the 2nd quarter. Van ECK Associates Corp now owns 2,987 shares of the energy company’s stock worth $145,000 after buying an additional 312 shares in the last quarter. Atlantic Trust LLC acquired a new position in Cheniere Energy during the 2nd quarter worth about $175,000. Fiduciary Trust Co. acquired a new position in Cheniere Energy during the 2nd quarter worth about $188,000. Finally, WINTON GROUP Ltd acquired a new position in Cheniere Energy during the 2nd quarter worth about $203,000.
Cheniere Energy Company Profile
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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