Wells Fargo & Company Forecasts Strong Price Appreciation for Cheniere Energy (NYSE:LNG) Stock

Cheniere Energy (NYSE:LNG) had its target price upped by analysts at Wells Fargo & Company from $213.00 to $235.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.54% from the company’s current price.

LNG has been the topic of a number of other research reports. Stifel Nicolaus boosted their price objective on shares of Cheniere Energy from $204.00 to $237.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of Cheniere Energy from $201.00 to $217.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays upped their target price on shares of Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. TD Cowen boosted their price objective on Cheniere Energy from $202.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America began coverage on Cheniere Energy in a report on Thursday, October 17th. They set a “buy” rating and a $215.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.00.

Cheniere Energy Stock Up 0.1 %

LNG opened at $210.68 on Wednesday. The company has a market cap of $47.27 billion, a PE ratio of 13.45 and a beta of 0.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.98 and a current ratio of 1.07. Cheniere Energy has a 1 year low of $152.31 and a 1 year high of $228.10. The firm has a 50 day moving average price of $204.13 and a 200 day moving average price of $186.24.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $2.06. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.76 billion. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.37 earnings per share. Sell-side analysts expect that Cheniere Energy will post 11.25 earnings per share for the current year.

Hedge Funds Weigh In On Cheniere Energy

Several hedge funds and other institutional investors have recently made changes to their positions in LNG. Jennison Associates LLC grew its position in Cheniere Energy by 2.9% in the 3rd quarter. Jennison Associates LLC now owns 1,324,360 shares of the energy company’s stock valued at $238,173,000 after buying an additional 37,729 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Cheniere Energy by 42.1% in the third quarter. Continuum Advisory LLC now owns 12,919 shares of the energy company’s stock valued at $2,323,000 after acquiring an additional 3,828 shares in the last quarter. M&G PLC increased its stake in shares of Cheniere Energy by 21.0% during the third quarter. M&G PLC now owns 268,834 shares of the energy company’s stock valued at $48,390,000 after acquiring an additional 46,602 shares during the period. Victory Capital Management Inc. lifted its position in Cheniere Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 113,635 shares of the energy company’s stock worth $20,436,000 after purchasing an additional 2,768 shares during the period. Finally, Nwam LLC bought a new position in Cheniere Energy during the 3rd quarter valued at $2,747,000. 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.