Cheniere Energy (NYSE:LNG) Price Target Cut to $271.00 by Analysts at Wells Fargo & Company

Cheniere Energy (NYSE:LNG) had its price objective reduced by equities researchers at Wells Fargo & Company from $280.00 to $271.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.74% from the stock’s previous close.

A number of other brokerages have also weighed in on LNG. Scotiabank boosted their target price on shares of Cheniere Energy from $266.00 to $285.00 and gave the company a “sector outperform” rating in a research note on Thursday, March 5th. Weiss Ratings cut Cheniere Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Jefferies Financial Group reissued a “buy” rating on shares of Cheniere Energy in a research report on Thursday, February 26th. TD Cowen increased their price objective on shares of Cheniere Energy from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada cut their target price on shares of Cheniere Energy from $282.00 to $271.00 and set an “outperform” rating for the company in a research report on Wednesday, January 28th. One equities research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $264.39.

Cheniere Energy Stock Down 0.9%

LNG stock traded down $2.31 during trading on Friday, hitting $251.53. 649,594 shares of the stock traded hands, compared to its average volume of 2,268,687. The stock has a market cap of $52.87 billion, a price-to-earnings ratio of 10.37 and a beta of 0.25. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.94 and a quick ratio of 0.81. Cheniere Energy has a 1 year low of $186.20 and a 1 year high of $259.24. The firm’s 50 day moving average is $217.81 and its two-hundred day moving average is $217.48.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $4.33 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts anticipate that Cheniere Energy will post 11.69 EPS for the current year.

Cheniere Energy announced that its board has initiated a share buyback plan on Thursday, February 26th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the energy company to repurchase up to 21.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Cheniere Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in shares of Cheniere Energy in the 3rd quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cheniere Energy in the third quarter valued at about $27,000. Strive Financial Group LLC purchased a new position in shares of Cheniere Energy during the 4th quarter worth approximately $25,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cheniere Energy during the 4th quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in Cheniere Energy by 250.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. 87.26% of the stock is owned by institutional investors and hedge funds.

About Cheniere Energy

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.