Cheniere Energy (NYSE:LNG) Given New $271.00 Price Target at Bank of America

Cheniere Energy (NYSE:LNG) had its price target reduced by investment analysts at Bank of America from $274.00 to $271.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Bank of America‘s target price indicates a potential upside of 40.41% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $278.00 price target (up from $275.00) on shares of Cheniere Energy in a report on Friday, October 24th. Jefferies Financial Group set a $290.00 target price on Cheniere Energy in a research note on Thursday, October 30th. Mizuho lifted their price target on Cheniere Energy from $268.00 to $273.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Erste Group Bank lowered shares of Cheniere Energy from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Zacks Research cut shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $268.47.

Cheniere Energy Trading Down 2.9%

Shares of LNG stock opened at $193.01 on Thursday. The company has a market capitalization of $41.54 billion, a P/E ratio of 10.75, a P/E/G ratio of 5.20 and a beta of 0.26. Cheniere Energy has a 12-month low of $188.70 and a 12-month high of $257.65. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 2.12. The firm has a 50-day moving average price of $214.89 and a 200 day moving average price of $228.36.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings data on Wednesday, October 29th. The energy company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $2.75 by $2.00. Cheniere Energy had a net margin of 21.12% and a return on equity of 37.52%. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the business posted $3.93 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. Research analysts forecast that Cheniere Energy will post 11.69 earnings per share for the current fiscal year.

Insider Activity

In other Cheniere Energy news, Director W Benjamin Moreland bought 5,000 shares of Cheniere Energy stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of $208.22 per share, with a total value of $1,041,100.00. Following the purchase, the director owned 9,856 shares of the company’s stock, valued at $2,052,216.32. This trade represents a 102.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cheniere Energy

Several large investors have recently bought and sold shares of LNG. Pinnacle Bancorp Inc. grew its holdings in Cheniere Energy by 134.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company’s stock worth $25,000 after acquiring an additional 59 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Cheniere Energy during the third quarter worth $25,000. Westside Investment Management Inc. increased its holdings in Cheniere Energy by 473.7% in the second quarter. Westside Investment Management Inc. now owns 109 shares of the energy company’s stock valued at $26,000 after purchasing an additional 90 shares during the last quarter. Hilltop National Bank acquired a new position in Cheniere Energy in the second quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Cheniere Energy in the third quarter valued at about $27,000. 87.26% of the stock is currently owned by institutional investors and hedge funds.

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.