Bank of America Initiates Coverage on Cheniere Energy (NYSE:LNG)

Bank of America began coverage on shares of Cheniere Energy (NYSE:LNG) in a report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $215.00 price target on the energy company’s stock. Bank of America‘s target price indicates a potential upside of 18.05% from the company’s current price.

Several other brokerages have also issued reports on LNG. Stifel Nicolaus cut their target price on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Sanford C. Bernstein initiated coverage on shares of Cheniere Energy in a research report on Monday, June 24th. They set an “outperform” rating for the company. Royal Bank of Canada boosted their target price on shares of Cheniere Energy from $201.00 to $217.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Barclays boosted their target price on shares of Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $182.12 on Thursday. The company has a 50 day moving average price of $183.11 and a 200-day moving average price of $171.32. Cheniere Energy has a 52 week low of $152.31 and a 52 week high of $193.16. The firm has a market capitalization of $41.69 billion, a PE ratio of 8.87 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 2.63.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Cheniere Energy had a net margin of 27.05% and a return on equity of 39.42%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $2.04 billion. As a group, equities research analysts expect that Cheniere Energy will post 9.76 earnings per share for the current year.

Institutional Investors Weigh In On Cheniere Energy

A number of hedge funds have recently bought and sold shares of the business. Octavia Wealth Advisors LLC raised its stake in Cheniere Energy by 3.7% during the third quarter. Octavia Wealth Advisors LLC now owns 1,498 shares of the energy company’s stock valued at $269,000 after purchasing an additional 54 shares in the last quarter. Signature Wealth Management Group raised its stake in Cheniere Energy by 1.4% during the second quarter. Signature Wealth Management Group now owns 4,758 shares of the energy company’s stock valued at $832,000 after purchasing an additional 66 shares in the last quarter. Sapient Capital LLC increased its position in Cheniere Energy by 0.9% during the third quarter. Sapient Capital LLC now owns 7,514 shares of the energy company’s stock valued at $1,351,000 after acquiring an additional 67 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Cheniere Energy by 57.6% during the second quarter. Capital Advisors Ltd. LLC now owns 186 shares of the energy company’s stock valued at $33,000 after acquiring an additional 68 shares during the last quarter. Finally, E&G Advisors LP increased its position in Cheniere Energy by 5.2% during the first quarter. E&G Advisors LP now owns 1,420 shares of the energy company’s stock valued at $229,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Cheniere Energy Company Profile

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.