Cheniere Energy (NYSE:LNG – Get Free Report) released its quarterly earnings results on Thursday. The energy company reported $3.84 EPS for the quarter, topping the consensus estimate of $1.71 by $2.13, Briefing.com reports. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.52 billion. Cheniere Energy had a net margin of 28.55% and a return on equity of 48.19%. The company’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.61 earnings per share.
Cheniere Energy Stock Up 1.8 %
Shares of LNG stock traded up $3.30 on Friday, reaching $183.17. 1,645,285 shares of the company’s stock traded hands, compared to its average volume of 1,892,294. The company has a market capitalization of $41.93 billion, a P/E ratio of 8.92 and a beta of 0.96. Cheniere Energy has a 12-month low of $152.31 and a 12-month high of $184.62. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.92 and a current ratio of 0.98. The business’s 50 day moving average price is $171.54 and its two-hundred day moving average price is $164.10.
Cheniere Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, August 9th. Cheniere Energy’s payout ratio is 8.48%.
Cheniere Energy announced that its Board of Directors has approved a stock buyback program on Monday, June 17th that allows the company to repurchase $4.00 billion in 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 typically an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts recently weighed in on LNG shares. Redburn Atlantic assumed coverage on shares of Cheniere Energy in a report on Tuesday, April 16th. They issued a “neutral” rating and a $162.00 price objective for the company. Sanford C. Bernstein began coverage on shares of Cheniere Energy in a report on Monday, June 24th. They issued an “outperform” rating for the company. UBS Group dropped their target price on Cheniere Energy from $223.00 to $206.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays increased their price target on Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, TD Cowen upped their price objective on Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $196.40.
Check Out Our Latest Stock Report on Cheniere Energy
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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