LNG shares stake buy points ahead of earnings


LNG Company Shares Energy Cheniere (LNG) and New Fortress Energy (ENF) both approached buy points on Wednesday, ahead of second-quarter results expected early Thursday.


Earnings for the two leaders in liquefied natural gas come as U.S. natural gas futures rose around 7% to $8.26 per million metric British thermal units on Wednesday. The price had fallen to a two-week low of $7.70 per MMBTU on Tuesday. Strong demand for natural gas in Europe and the United States has continued to push prices higher, even as the price of U.S. crude oil has fallen in recent weeks.

LNG Company Shares: Cheniere Energy Results

Estimates: Analysts polled by FactSet predict Cheniere will earn $3.49 per share on revenue of $6.4 billion.

Results: Check Thursday before market open for Q2 results.

Shares of Cheniere Energy slid 0.4% to 145.39 during market trading on Wednesday. The stock hovered just below a buy point of $150.10 during an 11-week consolidation.

Cheniere Energy rose after a period of consolidation below its 50-day moving average. According Ranking analysis.

Cheniere, based in Houston, is the largest liquefied natural gas producer in the United States and one of the largest LNG operators in the world. Its services range from the supply and transportation of gas to the chartering and delivery of vessels. Cheniere owns and operates liquefied natural gas terminals near Corpus Christi, Texas.

Its first-quarter revenue rose 141% to $7.5 billion as it posted a net loss of $3.41 per share from $1.54 per share in the first quarter of 2021. The company raised its 2022 profit forecast amid strong demand and boosted the year adjusted base profit estimate to $8.2 billion – $8.7 billion from $7-7.5 billion. of dollars.

Cheniere Energy ranks 36th in the Oil & Gas-Transport/Pipeline industry group. LNG stock has a composite rating of 73. It has a relative strength rating of 97, an IBD stock proprietary monitor gauge for stock price movement with a score of 1 to 99. The rating shows how performance of a stock over the past 52 weeks outperforms all other stocks in the IBD database. LNG’s EPS rating is only 2.

LNG Company Stocks: New Fortress Energy Earnings

Estimates: Wall Street expects EPS of 53 cents and $489 million in sales.

Results: New Fortress Energy is expected to announce its second quarter results on Thursday morning.

NFE shares closed down 0.7% at 49.73 on Wednesday. The stock has a buy point of 52.47 and was trading about 5% below that entry, according to MarketSmith Charts.

The New York-based liquefied natural gas company was founded in 2014 and operates in the United States, the Caribbean, Europe and Latin America. NFE works on energy infrastructure and develops, finances and operates natural gas facilities.

The company posted EPS of $1.13 in the first quarter, compared with a loss of 21 cents a year earlier. Revenue jumped 247% to $505 million in the first quarter.

NFE takes second place List of IBD 50 stocks. The company ranks third Integrated oil and gas industry group. New Fortress Energy has a composite rating of 99. Its relative strength rating is also the best possible of 99 and its EPS rating is 77.

Please follow Kit Norton on Twitter @KitNorton for more coverage.


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