Wells Fargo & Company Has Lowered Expectations for Cheniere Energy (NYSE:LNG) Stock Price

Cheniere Energy (NYSE:LNG) had its target price reduced by stock analysts at Wells Fargo & Company from $280.00 to $271.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 7.35% from the stock’s current price.

Other analysts have also issued research reports about the stock. Bank of America decreased their target price on shares of Cheniere Energy from $274.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. UBS Group raised their price target on shares of Cheniere Energy from $277.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings cut shares of Cheniere Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Cheniere Energy in a research report on Thursday, February 26th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $254.00 price objective on shares of Cheniere Energy in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.39.

Cheniere Energy Stock Down 0.6%

LNG stock opened at $252.44 on Friday. The stock has a 50-day simple moving average of $218.91 and a two-hundred day simple moving average of $217.40. Cheniere Energy has a twelve month low of $186.20 and a twelve month high of $259.24. The firm has a market capitalization of $53.06 billion, a PE ratio of 10.39 and a beta of 0.25. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.74.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $6.78. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the firm posted $4.33 earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts predict that Cheniere Energy will post 11.69 EPS for the current fiscal year.

Cheniere Energy declared that its board has approved a share buyback program on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the energy company to buy up to 21.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Cheniere Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cheniere Energy by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock worth $4,124,870,000 after purchasing an additional 414,022 shares during the last quarter. State Street Corp grew its stake in shares of Cheniere Energy by 2.8% during the fourth quarter. State Street Corp now owns 6,174,695 shares of the energy company’s stock valued at $1,200,299,000 after buying an additional 167,622 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Cheniere Energy by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,687,388 shares of the energy company’s stock worth $1,141,473,000 after buying an additional 26,843 shares during the period. Norges Bank purchased a new position in shares of Cheniere Energy in the second quarter worth about $957,425,000. Finally, Geode Capital Management LLC lifted its stake in shares of Cheniere Energy by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,874,796 shares of the energy company’s stock valued at $940,578,000 after acquiring an additional 70,475 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 is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.