Cheniere Energy (NYSE:LNG – Get Free Report) issued its earnings results on Thursday. The energy company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $2.13, Briefing.com reports. Cheniere Energy had a return on equity of 48.19% and a net margin of 28.55%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company posted $5.61 EPS. The business’s quarterly revenue was down 19.6% on a year-over-year basis.
Cheniere Energy Stock Performance
NYSE LNG traded up $3.30 during trading hours on Friday, reaching $183.17. The company’s stock had a trading volume of 1,645,285 shares, compared to its average volume of 1,892,294. The stock has a market cap of $41.93 billion, a PE ratio of 8.92 and a beta of 0.96. The business has a 50-day simple moving average of $171.54 and a 200 day simple moving average of $164.10. Cheniere Energy has a 52 week low of $152.31 and a 52 week high of $184.62. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 2.58.
Cheniere Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be given a $0.435 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 0.95%. Cheniere Energy’s payout ratio is currently 8.48%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Sanford C. Bernstein began coverage on shares of Cheniere Energy in a research note on Monday, June 24th. They set an “outperform” rating for the company. TD Cowen upped their price target on shares of Cheniere Energy from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Barclays raised their price objective on Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Stifel Nicolaus reduced their price objective on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research note on Friday. Finally, UBS Group lowered their target price on Cheniere Energy from $223.00 to $206.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.40.
Cheniere Energy declared that its Board of Directors has initiated a share buyback program on Monday, June 17th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
About Cheniere Energy
Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.
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