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LNG

Cheniere Energy

$63.24

0.23 (0.37%)

, CQP

Cheniere Energy Partners

$41.76

0.11 (0.26%)

08:29
06/03/19
06/03
08:29
06/03/19
08:29

Cheniere announces Sabine Pass Train 6 final invesment decision

Cheniere's (LNG) subsidiary Cheniere Energy Partners (CQP) announced that the Board of Directors of its general partner has made a positive FID with respect to Train 6 of the Sabine Pass Liquefaction Project in Cameron Parish, Louisiana, and Cheniere Partners has issued full notice to proceed with construction to Bechtel Oil, Gas and Chemicals. To fund a portion of the construction of Train 6 and a third LNG berth and required supporting infrastructure at the SPL Project, Cheniere Partners has entered into 5-year, $1.5B senior secured credit facilities with 29 banks and financial institutions in a transaction that closed on May 29, 2019. The facilities include a $750M delayed draw term loan, and a $750M revolving credit facility. SG Americas Securities, LLC acted as Financial Advisor to Cheniere Partners for the transaction, and MUFG Bank, Ltd acted as Sole Coordinating Lead Arranger.

LNG

Cheniere Energy

$63.24

0.23 (0.37%)

CQP

Cheniere Energy Partners

$41.76

0.11 (0.26%)

LNG Cheniere Energy
$63.24

0.23 (0.37%)

03/28/19
GSCO
03/28/19
UPGRADE
Target $87
GSCO
Conviction Buy
Cheniere Energy upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Michael Lapides added Cheniere Energy to his firm's Americas Conviction List and reiterates a Buy rating on the shares. He raised his price target for the shares to $87 from $84. The analyst views Cheniere as the best way for investors to gain exposure to the growing U.S. liquefied natural gas industry. He sees "several" near-term catalysts and expects the company to generate "material" free cash flow from liquefaction projects coming online.
03/28/19
03/28/19
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. SeaWorld (SEAS) upgraded to Buy from Neutral at B. Riley FBR with Eric Wold saying as a leading operator of differentiated theme parks as well as driving animal preservation and education, SeaWorld is well positioned to benefit from increased global consumer brand awareness and improving economies of scale. 2. Trex Company (TREX) upgraded to Buy from Hold at Stifel with analyst John Baugh saying the stock is trading at an attractive level with a risk/reward "very favorable" below $60. 3. Five Below (FIVE) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Christopher Prykull saying the stock is trading at a discount to Five Below's "growing" intrinsic value as building brand awareness, "robust" new store performance, and tailwinds from initiatives such as remodels should sustain double-digit top- and bottom-line growth. 4. People's Utah Bancorp (PUB) upgraded to Buy from Hold at Sandler O'Neill with analyst Andrew Liesch saying the bank has consistently posted strong operating results since its IPO in 2015 but that the stock has declined 15% year-to-date and underperformed the Nasdaq Bank Index. 5. Cheniere Energy (LNG) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Michael Lapides saying he views Cheniere as the best way for investors to gain exposure to the growing U.S. liquefied natural gas industry. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/13/19
GABE
05/13/19
INITIATION
GABE
Buy
Cheniere Energy initiated with a Buy at Gabelli
Gabelli analyst Matthew Trusz initiated coverage of the liquefied natural gas, or LNG, market, starting Cheniere Energy with a Buy rating. Demand will significantly exceed current supply by 2025, led by Chinese growth, said Trusz. Cheniere Energy is the only public pure-play LNG developer with operating liquefaction facilities and has strong earnings leverage on future capacity expansion, said Trusz, who sees the stock as undervalued.
05/13/19
GABE
05/13/19
INITIATION
GABE
Sell
Cheniere Energy Partners initiated with a Sell at Gabelli
Gabelli analyst Matthew Trusz initiated coverage of the liquefied natural gas, or LNG, market, stating that demand will significantly exceed current supply by 2025, led by Chinese growth. Cheniere Energy (LNG), the only public pure-play LNG developer with operating liquefaction facilities, is undervalued, but Cheniere Energy Partners (CQP) is overvalued, said Trusz, who started the former at Buy and the latter at Sell. The partnership has limited opportunity for expansion and incremental EBITDA will "flow disproportionately to its general partner," Trusz tells investors in his initiation note.
CQP Cheniere Energy Partners
$41.76

0.11 (0.26%)

03/13/19
EVER
03/13/19
INITIATION
Target $40
EVER
In Line
Cheniere Energy Partners initiated with an In Line at Evercore ISI
Evercore ISI analyst Jonathan Chappell initiated Cheniere Energy Partners with an In Line rating and a price target of $40.
03/13/19
EVER
03/13/19
INITIATION
Target $90
EVER
Outperform
Cheniere Energy offers multiple opportunities to boost value, says Evercore ISI
Evercore ISI analyst Jonathan Chappell initiated Cheniere Energy (LNG) with an Outperform rating and a $90 price target and Cheniere Energy Partners (CQP) with an In Line rating and a $40 price target as part of a broader LNG research note. The analyst cites Cheniere Energy position as a "leading provider of liquefied natural gas to customers globally", stating that his valuation model differentiates the stock as a "cash machine" with a "multiple" set of opportunities to create value. Chappell notes that cash flows of Cheniere Energy are accelerating, forecasting EBITDA growth of 31% this year. The analyst adds that potential outflow opportunity in terms of capital commitments could also create material value for Cheniere Energy shares. On Cheniere Energy Partners, Chappell sees an improving outlook with expected increase of cash distribution to an implied 5.8% this year, but already believes these factors are priced into the units after 22% gains year-to-date.
03/25/19
BMOC
03/25/19
DOWNGRADE
Target $43
BMOC
Market Perform
Cheniere Energy Partners downgraded to Market Perform at BMO Capital
BMO Capital analyst Danilo Juvane downgraded Cheniere Energy Partners (CQP) to Market Perform from Outperform with an unchanged price target of $43. The stock is "priced to perfection with no clear visibility to imminent catalysts," Juvane tells investors in a research note. The analyst sees limited upside potential from current share levels. However, he sees growth and catalysts within the Cheniere platform levered to Corpus Christi, which makes him prefer owning Cheniere Energy (LNG), one of his top picks.

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