Cheniere Energy (NYSE:LNG) Sets New 52-Week High on Analyst Upgrade

Cheniere Energy, Inc. (NYSE:LNG) reached a new 52-week high on Tuesday after TD Cowen raised their price target on the stock from $192.00 to $202.00. TD Cowen currently has a buy rating on the stock. Cheniere Energy traded as high as $193.61 and last traded at $193.08, with a volume of 501460 shares changing hands. The stock had previously closed at $188.77.

Other equities analysts also recently issued research reports about the company. Bank of America began coverage on Cheniere Energy in a research report on Thursday, October 17th. They issued a “buy” rating and a $215.00 target price on the stock. Stifel Nicolaus reduced their price objective on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays lifted their price objective on Cheniere Energy from $199.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada lifted their price objective on Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.89.

Institutional Investors Weigh In On Cheniere Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. increased its stake in Cheniere Energy by 6.7% during the first quarter. Sei Investments Co. now owns 187,236 shares of the energy company’s stock worth $30,198,000 after acquiring an additional 11,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Cheniere Energy by 215.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 62,551 shares of the energy company’s stock worth $10,936,000 after acquiring an additional 42,737 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Cheniere Energy during the first quarter worth $818,000. State Board of Administration of Florida Retirement System increased its stake in Cheniere Energy by 10.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 270,185 shares of the energy company’s stock worth $42,581,000 after acquiring an additional 24,498 shares during the last quarter. Finally, Edgestream Partners L.P. increased its stake in Cheniere Energy by 222.3% during the first quarter. Edgestream Partners L.P. now owns 19,081 shares of the energy company’s stock worth $3,077,000 after acquiring an additional 13,160 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Stock Performance

The company has a debt-to-equity ratio of 2.63, a current ratio of 1.02 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $183.55 and a 200-day simple moving average of $173.90. The company has a market cap of $43.57 billion, a price-to-earnings ratio of 12.30 and a beta of 0.94.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $2.06. Cheniere Energy had a return on equity of 42.29% and a net margin of 22.70%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm posted $2.37 earnings per share. The company’s revenue was down 9.5% on a year-over-year basis. As a group, analysts predict that Cheniere Energy, Inc. will post 10.11 EPS for the current fiscal year.

Cheniere Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be paid a $0.50 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. Cheniere Energy’s payout ratio is presently 11.11%.

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.