Short Interest in Cheniere Energy, Inc. (LNG) Drops By 2.5%

Cheniere Energy, Inc. (NYSEAMERICAN:LNG) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 10,934,460 shares, a decline of 2.5% from the April 30th total of 11,211,387 shares. Based on an average daily trading volume, of 2,731,110 shares, the days-to-cover ratio is presently 4.0 days. Approximately 4.7% of the shares of the stock are sold short.

Shares of LNG opened at $62.16 on Friday. Cheniere Energy has a fifty-two week low of $40.36 and a fifty-two week high of $66.66.

Cheniere Energy (NYSEAMERICAN:LNG) last announced its quarterly earnings results on Thursday, May 3rd. The energy company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $1.11. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 85.1% on a year-over-year basis.

Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Cheniere Energy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Thursday, May 17th. Bank of America boosted their target price on shares of Cheniere Energy from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Morgan Stanley boosted their target price on shares of Cheniere Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, May 7th. Stifel Nicolaus boosted their target price on shares of Cheniere Energy from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 7th. Finally, Citigroup lowered their target price on shares of Cheniere Energy from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, March 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Cheniere Energy currently has an average rating of “Buy” and an average price target of $62.91.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exchange Capital Management Inc. bought a new stake in Cheniere Energy in the first quarter worth $102,000. Institutional & Family Asset Management LLC bought a new stake in Cheniere Energy in the first quarter worth $121,000. First Interstate Bank increased its position in Cheniere Energy by 2,873.0% during the fourth quarter. First Interstate Bank now owns 2,973 shares of the energy company’s stock valued at $160,000 after acquiring an additional 2,873 shares during the last quarter. Fiduciary Trust Co. bought a new position in Cheniere Energy during the fourth quarter valued at $207,000. Finally, BB&T Securities LLC bought a new position in Cheniere Energy during the fourth quarter valued at $209,000.

About Cheniere Energy

Cheniere Energy, Inc, an energy company, engages in the liquefied natural gas (LNG) related businesses in the United States. The company operates in two segments, LNG Terminal Business, and LNG and Natural Gas Marketing. It owns and operates Sabine Pass LNG terminal in Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas.

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