Cheniere Energy (NYSE:LNG) Price Target Raised to $338.00 at JPMorgan Chase & Co.
by Mitch Edgeman · The Markets DailyCheniere Energy (NYSE:LNG – Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $279.00 to $338.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.51% from the stock’s previous close.
Several other research firms have also weighed in on LNG. UBS Group increased their target price on Cheniere Energy from $277.00 to $301.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. TD Cowen upped their price target on Cheniere Energy from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Citigroup cut their price target on shares of Cheniere Energy from $283.00 to $280.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Wells Fargo & Company reduced their price objective on shares of Cheniere Energy from $280.00 to $271.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Finally, Barclays boosted their price objective on shares of Cheniere Energy from $259.00 to $271.00 and gave the company an “overweight” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.00.
Get Our Latest Report on Cheniere Energy
Cheniere Energy Trading Up 2.2%
LNG opened at $297.76 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.94 and a quick ratio of 0.81. The company has a market cap of $62.59 billion, a price-to-earnings ratio of 12.25 and a beta of 0.25. The firm has a 50 day simple moving average of $233.31 and a 200 day simple moving average of $219.84. Cheniere Energy has a fifty-two week low of $186.20 and a fifty-two week high of $299.49.
Cheniere Energy (NYSE:LNG – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $6.78. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the firm earned $4.33 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, sell-side analysts anticipate that Cheniere Energy will post 11.69 earnings per share for the current year.
Cheniere Energy announced that its board has approved a share buyback program on Thursday, February 26th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the energy company to reacquire up to 21.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Hedge Funds Weigh In On Cheniere Energy
Several institutional investors and hedge funds have recently modified their holdings of LNG. Vanguard Group Inc. raised its holdings in Cheniere Energy by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock worth $4,124,870,000 after buying an additional 414,022 shares during the period. State Street Corp boosted its holdings in shares of Cheniere Energy by 2.8% in the fourth quarter. State Street Corp now owns 6,174,695 shares of the energy company’s stock valued at $1,200,299,000 after buying an additional 167,622 shares during the period. Norges Bank acquired a new position in shares of Cheniere Energy in the second quarter valued at approximately $957,425,000. Victory Capital Management Inc. increased its position in shares of Cheniere Energy by 12.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,279,078 shares of the energy company’s stock worth $443,031,000 after acquiring an additional 253,469 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Cheniere Energy by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,263,826 shares of the energy company’s stock worth $440,047,000 after acquiring an additional 134,695 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
About Cheniere Energy
Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.
Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.