Cheniere Energy (NYSE:LNG) Price Target Cut to $257.00 by Analysts at Scotiabank

Cheniere Energy (NYSE:LNG) had its price target decreased by research analysts at Scotiabank from $261.00 to $257.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the energy company’s stock. Scotiabank’s price target would suggest a potential upside of 20.43% from the company’s previous close.

Several other brokerages also recently weighed in on LNG. Erste Group Bank downgraded Cheniere Energy from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets initiated coverage on shares of Cheniere Energy in a research report on Friday, September 19th. They issued an “outperform” rating and a $268.00 price objective for the company. Wells Fargo & Company boosted their target price on Cheniere Energy from $267.00 to $284.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group reissued a “buy” rating and set a $275.00 price target on shares of Cheniere Energy in a research note on Monday, November 3rd. Finally, Mizuho lifted their price objective on Cheniere Energy from $268.00 to $273.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cheniere Energy currently has an average rating of “Moderate Buy” and an average price target of $268.47.

Cheniere Energy Stock Performance

NYSE LNG traded down $0.15 during mid-day trading on Thursday, reaching $213.40. 596,475 shares of the stock were exchanged, compared to its average volume of 1,994,373. The business’s 50 day moving average is $225.98 and its 200-day moving average is $232.06. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.98. Cheniere Energy has a 1 year low of $188.70 and a 1 year high of $257.65. The company has a market capitalization of $45.93 billion, a P/E ratio of 12.46, a P/E/G ratio of 6.08 and a beta of 0.36.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Wednesday, October 29th. The energy company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $2.00. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.87 billion. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company earned $3.93 EPS. On average, equities research analysts forecast that Cheniere Energy will post 11.69 EPS for the current fiscal year.

Insider Activity

In other news, Director W Benjamin Moreland acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average cost of $208.22 per share, for a total transaction of $1,041,100.00. Following the completion of the acquisition, the director owned 9,856 shares in the company, valued at $2,052,216.32. This represents a 102.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in shares of Cheniere Energy by 27.6% during the 1st quarter. American Century Companies Inc. now owns 1,304,253 shares of the energy company’s stock valued at $301,804,000 after acquiring an additional 282,050 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in Cheniere Energy during the 1st quarter valued at approximately $529,000. Kayne Anderson Capital Advisors LP lifted its holdings in Cheniere Energy by 7.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,494,901 shares of the energy company’s stock valued at $345,920,000 after buying an additional 105,875 shares during the period. Assetmark Inc. boosted its position in shares of Cheniere Energy by 718.1% during the 2nd quarter. Assetmark Inc. now owns 1,669 shares of the energy company’s stock valued at $406,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Fractal Investments LLC grew its position in shares of Cheniere Energy by 27.7% during the 1st quarter. Fractal Investments LLC now owns 75,585 shares of the energy company’s stock worth $17,490,000 after buying an additional 16,385 shares during the period. 87.26% of the stock is currently owned by institutional investors.

About Cheniere Energy

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.