Cheniere Energy, Inc. (NYSE:LNG) is included among the 14 Best LNG Stocks to Buy Now.
Cheniere Energy, Inc. (NYSE:LNG) is the largest producer of liquefied natural gas in the United States and the second-largest LNG operator in the world.
On February 5, Cheniere Energy, Inc. (NYSE:LNG) submitted an application with FERC to construct a new LNG facility at its Corpus Christi site in Texas. Corpus Christi is already undergoing a Stage 3 expansion, after which the facility’s total capacity will be increased to 25 million tons per annum (mtpa). If approved, the Stage 4 expansion would further raise the plant’s total capacity to 49 mtpa. Cheniere expects the expansion to require 3.3 billion cubic feet of gas per day, and the company hopes to obtain federal approval by May 2027.
In other news, Cheniere Energy, Inc. (NYSE:LNG) had a setback on February 24 when Morgan Stanley analyst Devin McDermott downgraded the stock from ‘Overweight’ to ‘Equal Weight’, while also reducing its price target from $258 to $236. Morgan Stanley believes that the global LNG market is headed into a supply glut, driving it to shift its view on the US industry from ‘In-Line’ to ‘Cautious’. The analyst believes that Cheniere’s shares are trading near fair value, despite the company’s limited direct exposure to pricing.
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