Cheniere Energy, Inc. (LNG) Shares Gap Down Following Weak Earnings

Cheniere Energy, Inc. (NYSEAMERICAN:LNG) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $48.88, but opened at $48.44. Cheniere Energy shares last traded at $48.44, with a volume of 3931291 shares changing hands.

The energy company reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($1.08). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.27 billion. The business’s revenue was up 201.7% on a year-over-year basis. During the same period last year, the firm posted ($0.41) earnings per share.

Several research firms have commented on LNG. BidaskClub raised shares of Cheniere Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. BMO Capital Markets began coverage on shares of Cheniere Energy in a research report on Monday, September 25th. They set an “outperform” rating and a $60.00 price target for the company. J P Morgan Chase & Co decreased their price target on shares of Cheniere Energy from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, November 1st. Scotiabank reissued a “buy” rating and set a $52.00 price target on shares of Cheniere Energy in a research report on Wednesday, October 25th. Finally, ValuEngine lowered shares of Cheniere Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.61.

In related news, insider Jack A. Fusco acquired 23,750 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average cost of $42.32 per share, with a total value of $1,005,100.00. Following the transaction, the insider now directly owns 399,985 shares of the company’s stock, valued at approximately $16,927,365.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of large investors have recently modified their holdings of LNG. Teachers Advisors LLC increased its holdings in Cheniere Energy by 2.7% in the 1st quarter. Teachers Advisors LLC now owns 311,907 shares of the energy company’s stock worth $14,744,000 after buying an additional 8,325 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cheniere Energy by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 508,536 shares of the energy company’s stock worth $24,031,000 after buying an additional 27,777 shares during the period. Xact Kapitalforvaltning AB increased its holdings in Cheniere Energy by 11.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 17,547 shares of the energy company’s stock worth $855,000 after buying an additional 1,834 shares during the period. Capstone Asset Management Co. increased its holdings in Cheniere Energy by 15.4% in the 2nd quarter. Capstone Asset Management Co. now owns 5,623 shares of the energy company’s stock worth $274,000 after buying an additional 750 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in Cheniere Energy by 135.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,095 shares of the energy company’s stock worth $345,000 after buying an additional 4,080 shares during the period.

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About Cheniere Energy

Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.

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