Cheniere Energy, Inc. (LNG) Sees Significant Decline in Short Interest
Cheniere Energy, Inc. (NYSE:LNG) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 12,687,259 shares, a drop of 5.9% from the July 14th total of 13,475,833 shares. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily volume of 1,699,549 shares, the short-interest ratio is presently 7.5 days.
Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Cheniere Energy by 21.9% in the first quarter. Van ECK Associates Corp now owns 2,675 shares of the energy company’s stock worth $126,000 after buying an additional 480 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Cheniere Energy during the first quarter worth $142,000. Advisory Services Network LLC purchased a new stake in Cheniere Energy during the first quarter worth $155,000. Toronto Dominion Bank boosted its stake in Cheniere Energy by 13.9% in the first quarter. Toronto Dominion Bank now owns 3,685 shares of the energy company’s stock worth $174,000 after buying an additional 449 shares in the last quarter. Finally, Fiduciary Trust Co. purchased a new stake in Cheniere Energy during the second quarter worth $188,000.
Shares of Cheniere Energy (NYSE:LNG) traded up 0.94% during mid-day trading on Wednesday, reaching $43.00. The company’s stock had a trading volume of 2,314,366 shares. Cheniere Energy has a 1-year low of $35.07 and a 1-year high of $51.41. The company’s 50 day moving average price is $46.84 and its 200-day moving average price is $47.05. The company’s market capitalization is $9.99 billion.
LNG has been the topic of several research analyst reports. Zacks Investment Research raised Cheniere Energy from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday, April 19th. Guggenheim initiated coverage on Cheniere Energy in a report on Monday, April 17th. They issued a “buy” rating and a $54.00 price objective on the stock. Scotiabank set a $52.00 price objective on Cheniere Energy and gave the company a “buy” rating in a report on Friday, July 21st. Morgan Stanley lowered Cheniere Energy from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a report on Tuesday, June 13th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $58.00 price objective (up from $55.00) on shares of Cheniere Energy in a report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $54.08.
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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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