Cheniere Energy, Inc. (LNG) Cut to “Sell” at ValuEngine
Cheniere Energy, Inc. (NYSE:LNG) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.
A number of other equities research analysts have also recently commented on LNG. Zacks Investment Research cut shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub cut shares of Cheniere Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Morgan Stanley cut shares of Cheniere Energy from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Tuesday, June 13th. Finally, Scotiabank set a $52.00 target price on shares of Cheniere Energy and gave the stock a “buy” rating in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $54.08.
Cheniere Energy (NYSE LNG) opened at 43.66 on Friday. Cheniere Energy has a 52 week low of $35.07 and a 52 week high of $51.41. The stock’s market cap is $10.15 billion. The company’s 50-day moving average is $43.71 and its 200 day moving average is $46.33.
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In related news, CFO Michael J. Wortley acquired 5,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was acquired at an average cost of $41.96 per share, with a total value of $209,800.00. Following the acquisition, the chief financial officer now directly owns 433,830 shares in the company, valued at approximately $18,203,506.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Sean N. Markowitz acquired 1,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $42.10 per share, with a total value of $42,100.00. Following the completion of the acquisition, the general counsel now owns 10,022 shares in the company, valued at $421,926.20. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Cheniere Energy by 3.8% in the second quarter. Vanguard Group Inc. now owns 17,633,858 shares of the energy company’s stock worth $858,946,000 after buying an additional 653,176 shares during the period. Kensico Capital Management Corp raised its position in Cheniere Energy by 0.9% in the first quarter. Kensico Capital Management Corp now owns 10,920,600 shares of the energy company’s stock worth $516,217,000 after buying an additional 100,000 shares during the period. FMR LLC raised its position in Cheniere Energy by 482.7% in the second quarter. FMR LLC now owns 6,741,287 shares of the energy company’s stock worth $328,368,000 after buying an additional 5,584,446 shares during the period. Neuberger Berman Group LLC raised its position in Cheniere Energy by 26.3% in the first quarter. Neuberger Berman Group LLC now owns 2,873,157 shares of the energy company’s stock worth $135,814,000 after buying an additional 597,984 shares during the period. Finally, Steadfast Capital Management LP raised its position in Cheniere Energy by 44.2% in the second quarter. Steadfast Capital Management LP now owns 2,741,466 shares of the energy company’s stock worth $133,537,000 after buying an additional 839,724 shares during the period.
About Cheniere Energy
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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