Cheniere Energy (NYSE:LNG) Given a $261.00 Price Target at Scotiabank

Cheniere Energy (NYSE:LNG) has been assigned a $261.00 price objective by Scotiabank in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a “sector outperform” rating on the energy company’s stock. Scotiabank’s target price suggests a potential upside of 12.64% from the stock’s current price.

A number of other brokerages have also weighed in on LNG. Barclays restated an “overweight” rating and issued a $262.00 price objective (up from $253.00) on shares of Cheniere Energy in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Cheniere Energy from $252.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Bank of America increased their price objective on Cheniere Energy from $258.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Raymond James Financial reissued a “strong-buy” rating on shares of Cheniere Energy in a research report on Wednesday, April 23rd. Finally, Argus started coverage on shares of Cheniere Energy in a research note on Tuesday, March 18th. They set a “buy” rating and a $255.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cheniere Energy has a consensus rating of “Moderate Buy” and a consensus target price of $260.36.

Cheniere Energy Trading Down 1.5%

NYSE LNG opened at $231.71 on Tuesday. Cheniere Energy has a 12 month low of $167.66 and a 12 month high of $257.65. The company has a current ratio of 1.19, a quick ratio of 1.06 and a debt-to-equity ratio of 2.24. The stock’s fifty day moving average price is $235.77 and its 200-day moving average price is $228.71. The stock has a market cap of $51.39 billion, a P/E ratio of 16.95 and a beta of 0.42.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings data on Thursday, May 8th. The energy company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($1.24). The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $4.73 billion. Cheniere Energy had a net margin of 18.37% and a return on equity of 32.62%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. As a group, equities analysts forecast that Cheniere Energy will post 11.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Cheniere Energy news, Director Neal A. Shear sold 4,300 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $245.93, for a total value of $1,057,499.00. Following the transaction, the director directly owned 29,733 shares in the company, valued at approximately $7,312,236.69. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cheniere Energy

Several hedge funds and other institutional investors have recently modified their holdings of LNG. Pinnacle Bancorp Inc. raised its position in shares of Cheniere Energy by 134.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company’s stock valued at $25,000 after purchasing an additional 59 shares during the period. REAP Financial Group LLC increased its stake in Cheniere Energy by 150.0% in the 4th quarter. REAP Financial Group LLC now owns 125 shares of the energy company’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Cheniere Energy in the 4th quarter worth $32,000. Cooksen Wealth LLC bought a new stake in Cheniere Energy during the first quarter valued at about $38,000. Finally, WPG Advisers LLC purchased a new position in shares of Cheniere Energy in the first quarter valued at about $38,000. 87.26% of the stock is currently owned by hedge funds and other 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.