Cheniere Energy, Inc. (LNG) Sees Significant Drop in Short Interest

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

Institutional investors and hedge funds have recently modified their holdings of the business. Exchange Capital Management Inc. acquired a new stake in shares of Cheniere Energy in the 1st quarter worth $102,000. Institutional & Family Asset Management LLC purchased a new position in shares of Cheniere Energy during the 1st quarter worth $121,000. First Interstate Bank grew its holdings in shares of Cheniere Energy by 2,873.0% during the 4th quarter. First Interstate Bank now owns 2,973 shares of the energy company’s stock worth $160,000 after purchasing an additional 2,873 shares during the period. Fiduciary Trust Co. purchased a new position in shares of Cheniere Energy during the 4th quarter worth $207,000. Finally, BB&T Securities LLC purchased a new position in shares of Cheniere Energy during the 4th quarter worth $209,000.

Shares of LNG opened at $61.67 on Friday. Cheniere Energy has a 52-week low of $40.36 and a 52-week high of $66.66.

Cheniere Energy (NYSEAMERICAN:LNG) last issued its earnings results on Thursday, May 3rd. The energy company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $1.11. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $0.23 earnings per share. The firm’s revenue was up 85.1% compared to the same quarter last year.

LNG has been the subject of several recent research reports. Barclays set a $65.00 price objective on Cheniere Energy and gave the company a “buy” rating in a research note on Monday, February 12th. Guggenheim reissued a “buy” rating on shares of Cheniere Energy in a research note on Friday, February 16th. Bank of America initiated coverage on Cheniere Energy in a research note on Thursday, March 15th. They issued a “buy” rating and a $60.00 price objective for the company. Alembic Global Advisors reissued a “buy” rating on shares of Cheniere Energy in a research note on Monday, February 26th. Finally, Scotiabank reissued a “buy” rating and issued a $65.00 price objective on shares of Cheniere Energy in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $62.91.

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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