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) filed an application with FERC to build 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 increase to 25 million tons per year (mtpa). If approved, the Stage 4 expansion would further increase 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) suffered a setback on February 24 when Morgan Stanley analyst Devin McDermott downgraded the stock from “overweight” to “equal weight,” while lowering his price target from $258 to $236. Morgan Stanley believes the global LNG market is heading toward oversupply, leading it to change its view on the U.S. industry from “online” to “cautious.” The analyst believes Cheniere’s stock is trading close to its fair value, despite the company’s limited direct exposure to pricing.
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