Zacks Investment Research upgraded shares of Cheniere Energy (NYSEAMERICAN:LNG) from a sell rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $62.00 target price on the energy company’s stock.
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 on the back of solid operations and long-term contracts. The firm’s gas supply deals for its Sabine Pass and Corpus Christi projects offers excellent cash flow visibility in the coming years. Boosting investors’ confidence, Cheniere Energy maintained its EBITDA and cash flow outlook despite slipping to a loss in the recently reported quarter. However, setting up natural gas liquefaction plants is a costly affair that requires massive capital spending. This has translated into a huge debt burden of $30 billion for the company, thereby deteriorating its leverage and credit metrics. As such, with limited upside, Cheniere Energy stock warrants a cautious stance from the investors.”
Several other research firms have also commented on LNG. BTIG Research initiated coverage on Cheniere Energy in a report on Tuesday, July 16th. They set a neutral rating on the stock. Cowen reaffirmed an outperform rating and set a $80.00 target price (up from $78.00) on shares of Cheniere Energy in a report on Tuesday, June 4th. Finally, Gabelli started coverage on Cheniere Energy in a report on Monday, May 13th. They issued a buy rating on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $75.63.
Cheniere Energy (NYSEAMERICAN:LNG) last posted its earnings results on Thursday, August 8th. The energy company reported ($0.44) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.59). The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.21 billion. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share.
Several large investors have recently modified their holdings of LNG. San Francisco Sentry Investment Group CA boosted its stake in shares of Cheniere Energy by 130.7% in the second quarter. San Francisco Sentry Investment Group CA now owns 489 shares of the energy company’s stock worth $33,000 after acquiring an additional 277 shares during the last quarter. Lenox Wealth Management Inc. purchased a new position in Cheniere Energy during the first quarter worth approximately $34,000. Cullen Frost Bankers Inc. purchased a new position in Cheniere Energy during the first quarter worth approximately $35,000. Quad Cities Investment Group LLC purchased a new position in Cheniere Energy during the second quarter worth approximately $36,000. Finally, Manchester Financial Inc. purchased a new position in Cheniere Energy during the second quarter worth approximately $38,000.
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 owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas. It also owns Creole Trail pipeline, a 94-mile pipeline interconnecting the Sabine Pass LNG terminal with various interstate pipelines; and operates Corpus Christi pipeline, a 23-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.
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