Cheniere Energy (NYSE:LNG) Price Target Raised to $288.00 at Scotiabank

Key Points

• Scotiabank raised its price target on Cheniere to $288 (from $285) and maintained a "sector outperform" rating, implying roughly a 9.4% upside
• Cheniere reported a big quarterly EPS beat of $10.68 vs. $3.90 consensus, with strong profitability metrics (32.0% ROE and a 26.7% net margin) while revenue was roughly in line with estimates.
• The board approved a $10.0 billion share buyback authorization to repurchase up to 21.1% of outstanding shares, signaling management believes the stock is undervalued.

Cheniere Energy (NYSE:LNG - Get Free Report) had its price target boosted by equities researchers at Scotiabank from $285.00 to $288.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the energy company's stock. Scotiabank's price target indicates a potential upside of 9.41% from the stock's current price.

Several other equities analysts have also issued reports on the company. Barclays lifted their price target on Cheniere Energy from $259.00 to $271.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. TD Cowen boosted their price objective on shares of Cheniere Energy from $250.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Jefferies Financial Group lifted their target price on Cheniere Energy from $275.00 to $330.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. BMO Capital Markets increased their price objective on Cheniere Energy from $265.00 to $306.00 and gave the company an "outperform" rating in a research report on Monday, March 23rd. Finally, Morgan Stanley upgraded shares of Cheniere Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $236.00 to $313.00 in a research note on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $293.00.

Cheniere Energy Price Performance

Cheniere Energy stock traded up $6.49 during midday trading on Thursday, reaching $263.24. 447,681 shares of the stock were exchanged, compared to its average volume of 2,784,678. The firm has a market cap of $55.32 billion, a PE ratio of 10.82 and a beta of 0.14. Cheniere Energy has a 52 week low of $186.20 and a 52 week high of $300.89. The company's fifty day moving average is $252.30 and its 200-day moving average is $223.75. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.81 and a current ratio of 0.94.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $6.78. Cheniere Energy had a return on equity of 32.04% and a net margin of 26.68%.The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the company earned $4.33 earnings per share. The firm's quarterly revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts forecast that Cheniere Energy will post 11.69 EPS for the current year.

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

Insider Activity at Cheniere Energy

In other news, CFO Zach Davis sold 29,000 shares of the business's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $300.00, for a total value of $8,700,000.00. Following the sale, the chief financial officer directly owned 87,146 shares in the company, valued at $26,143,800. The trade was a 24.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sean N. Markowitz sold 22,246 shares of the company's stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $290.98, for a total value of $6,473,141.08. Following the sale, the executive vice president owned 64,000 shares in the company, valued at approximately $18,622,720. This trade represents a 25.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Cheniere Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Genesis Private Wealth LLC bought a new stake in Cheniere Energy during the first quarter valued at about $206,000. Diversified Trust Co grew its holdings in Cheniere Energy by 403.2% in the first quarter. Diversified Trust Co now owns 8,333 shares of the energy company's stock worth $2,365,000 after purchasing an additional 6,677 shares during the last quarter. Nations Financial Group Inc. IA ADV acquired a new stake in shares of Cheniere Energy in the 1st quarter worth $4,959,000. J. Derek Lewis & Associates Inc. purchased a new position in Cheniere Energy during the 4th quarter worth $673,000. Finally, Rockefeller Capital Management L.P. increased its position in Cheniere Energy by 38.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 322,794 shares of the energy company's stock valued at $62,748,000 after buying an additional 90,392 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.

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.

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