Citigroup Trims Cheniere Energy (LNG) Target Price to $71.00

Cheniere Energy (NYSEAMERICAN:LNG) had its price objective cut by Citigroup from $73.00 to $71.00 in a report released on Thursday. They currently have a buy rating on the energy company’s stock.

Other equities analysts have also recently issued research reports about the company. Barclays set a $78.00 price objective on Cheniere Energy and gave the stock a buy rating in a research report on Friday, October 12th. Cowen raised Cheniere Energy from a market perform rating to an outperform rating and set a $76.00 price objective for the company in a research report on Wednesday, September 26th. Scotiabank set a $82.00 price objective on Cheniere Energy and gave the stock a buy rating in a research report on Monday, August 20th. Zacks Investment Research cut Cheniere Energy from a buy rating to a hold rating in a research report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. initiated coverage on Cheniere Energy in a report on Wednesday, October 31st. They issued an overweight rating for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Cheniere Energy has an average rating of Buy and an average price target of $75.64.

NYSEAMERICAN LNG opened at $61.12 on Thursday. Cheniere Energy has a twelve month low of $46.00 and a twelve month high of $71.03.

Cheniere Energy (NYSEAMERICAN:LNG) last posted its quarterly earnings data on Thursday, November 8th. The energy company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned ($1.24) earnings per share. The business’s revenue was up 29.7% compared to the same quarter last year.

In related news, General Counsel Sean N. Markowitz acquired 1,700 shares of the stock in a transaction dated Wednesday, November 14th. The shares were bought at an average cost of $59.10 per share, for a total transaction of $100,470.00. Following the purchase, the general counsel now owns 57,643 shares in the company, valued at approximately $3,406,701.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jack A. Fusco acquired 15,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was bought at an average price of $59.20 per share, for a total transaction of $888,000.00. Following the completion of the purchase, the insider now owns 564,599 shares in the company, valued at approximately $33,424,260.80. The disclosure for this purchase can be found here.

Several hedge funds have recently added to or reduced their stakes in LNG. Senator Investment Group LP bought a new stake in shares of Cheniere Energy in the 2nd quarter valued at approximately $195,570,000. PointState Capital LP grew its stake in shares of Cheniere Energy by 147.9% in the 3rd quarter. PointState Capital LP now owns 3,355,723 shares of the energy company’s stock valued at $233,189,000 after purchasing an additional 2,001,833 shares during the period. Jennison Associates LLC grew its stake in shares of Cheniere Energy by 138.4% in the 3rd quarter. Jennison Associates LLC now owns 3,252,467 shares of the energy company’s stock valued at $226,014,000 after purchasing an additional 1,887,892 shares during the period. American Century Companies Inc. bought a new stake in shares of Cheniere Energy in the 2nd quarter valued at approximately $93,020,000. Finally, FMR LLC grew its stake in shares of Cheniere Energy by 8.9% in the 3rd quarter. FMR LLC now owns 15,788,826 shares of the energy company’s stock valued at $1,097,167,000 after purchasing an additional 1,285,298 shares during the period.

Cheniere Energy Company Profile

Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company operates in two segments, LNG Terminal Business, and LNG and Natural Gas Marketing. It owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas.

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