Cheniere Energy (LNG) Now Covered by Analysts at JPMorgan Chase & Co.

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JPMorgan Chase & Co. assumed coverage on shares of Cheniere Energy (NYSEAMERICAN:LNG) in a research report sent to investors on Wednesday morning, The Fly reports. The firm issued an overweight rating on the energy company’s stock.

Several other equities research analysts have also issued reports on the company. Morgan Stanley raised Cheniere Energy from an equal weight rating to an overweight rating and upped their price target for the company from $70.00 to $80.00 in a research report on Wednesday, September 26th. Scotiabank set a $82.00 price target on Cheniere Energy and gave the company a buy rating in a research report on Monday, August 20th. Zacks Investment Research lowered Cheniere Energy from a buy rating to a hold rating in a research report on Tuesday, August 14th. Cowen raised Cheniere Energy from a market perform rating to an outperform rating and set a $76.00 price target on the stock in a research report on Wednesday, September 26th. Finally, Goldman Sachs Group assumed coverage on Cheniere Energy in a research report on Monday, October 8th. They set a neutral rating and a $77.00 price target on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Cheniere Energy presently has a consensus rating of Buy and a consensus target price of $71.75.

Shares of Cheniere Energy stock traded up $1.72 on Wednesday, hitting $62.13. 125,092 shares of the company’s stock traded hands, compared to its average volume of 2,234,016. Cheniere Energy has a 52-week low of $46.00 and a 52-week high of $71.03.

Cheniere Energy (NYSEAMERICAN:LNG) last released its earnings results on Thursday, August 9th. The energy company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.32). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.64 billion. The company’s revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.23) EPS.

In other Cheniere Energy news, Director David B. Kilpatrick sold 15,000 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $68.88, for a total value of $1,033,200.00. Following the sale, the director now directly owns 4,397 shares of the company’s stock, valued at $302,865.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE grew its stake in shares of Cheniere Energy by 121.6% in the third quarter. US Bancorp DE now owns 13,878 shares of the energy company’s stock worth $964,000 after purchasing an additional 7,614 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Cheniere Energy by 0.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 312,267 shares of the energy company’s stock worth $21,699,000 after purchasing an additional 1,371 shares in the last quarter. USA Financial Portformulas Corp bought a new position in shares of Cheniere Energy in the third quarter worth $625,000. Harvest Fund Management Co. Ltd grew its stake in shares of Cheniere Energy by 336.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,638 shares of the energy company’s stock worth $253,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Cheniere Energy by 7.1% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 15,355 shares of the energy company’s stock worth $1,067,000 after purchasing an additional 1,023 shares in the last quarter.

Cheniere Energy Company Profile

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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The Fly

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