Cheniere Energy (NYSE:LNG) Sets New 52-Week High – Here’s Why

Cheniere Energy, Inc. (NYSE:LNG)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $229.63 and last traded at $226.62, with a volume of 143179 shares. The stock had previously closed at $225.19.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LNG shares. 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 research note on Wednesday, December 4th. TD Cowen boosted their price objective on shares of Cheniere Energy from $202.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays boosted their price objective on shares of Cheniere Energy from $199.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Bank of America started coverage on shares of Cheniere Energy in a research note on Thursday, October 17th. They set a “buy” rating and a $215.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cheniere Energy has a consensus rating of “Moderate Buy” and an average target price of $226.55.

Cheniere Energy Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.07 and a debt-to-equity ratio of 2.41. The firm’s fifty day moving average price is $215.00 and its two-hundred day moving average price is $192.97. The stock has a market capitalization of $50.55 billion, a PE ratio of 14.39 and a beta of 0.99.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $1.87 by $2.06. Cheniere Energy had a net margin of 22.70% and a return on equity of 41.44%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $2.37 earnings per share. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. On average, equities analysts predict that Cheniere Energy, Inc. will post 11.25 earnings per share for the current year.

Cheniere Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, November 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.89%. Cheniere Energy’s payout ratio is 12.77%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LNG. Bank of New York Mellon Corp purchased a new position in shares of Cheniere Energy during the second quarter valued at approximately $441,000. Commonwealth Equity Services LLC increased its holdings in Cheniere Energy by 2.7% during the second quarter. Commonwealth Equity Services LLC now owns 20,391 shares of the energy company’s stock valued at $1,001,000 after buying an additional 534 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Cheniere Energy during the second quarter valued at approximately $1,708,000. Choreo LLC purchased a new stake in Cheniere Energy during the second quarter valued at approximately $744,000. Finally, MGO One Seven LLC increased its holdings in Cheniere Energy by 22.3% during the second quarter. MGO One Seven LLC now owns 5,415 shares of the energy company’s stock valued at $947,000 after buying an additional 988 shares during the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

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.