|Bid||37.60 x 800|
|Ask||37.80 x 800|
|Day's Range||36.52 - 37.72|
|52 Week Range||17.75 - 49.30|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||17.59|
|Earnings Date||Aug. 06, 2020 - Aug. 10, 2020|
|Forward Dividend & Yield||2.56 (6.79%)|
|Ex-Dividend Date||May 06, 2020|
|1y Target Est||35.43|
One is the biggest pure-play LNG exporter in North America, and is making money today. The other has a very uncertain future, but could deliver immense gains if it can survive.
Cheniere Energy (LNG) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
ProPetro's (PUMP) pressure pumping division makes up 97.9% of the company's top line in the first quarter.
Founded nearly 40 years ago, Cheniere Energy (NYSEMKT: LNG) is one of the largest American liquefied natural gas (LNG) producers and exporters. Although the COVID-19 pandemic has resulted in slowing energy demand and has interfered with LNG supply lines and project schedules, Cheniere Energy thinks it can survive this oil and gas downturn. In its quarterly earnings call on April 30, Cheniere noted that Asia's LNG imports increased 7% year-over-year in the quarter, Europe's increased by 25% year-over-year, and U.S. deliveries to Europe increased by 40% quarter-over-quarter.
Weak demand is sparking a wave of natural gas cargo cancelations in the United States, and the situation may be about to become even more dire
(Bloomberg) -- U.S. liquefied natural gas producers face a wave of order cancellations as global buyers struggle with growing stockpiles of the fuel along with demand weakened by the coronavirus crisis.All U.S. projects could get requests to cancel a total of 35-45 cargoes for July loading, which is higher than the number of shipments scrapped for June, traders surveyed by Bloomberg News estimated. That means more than half of the average monthly shipments from the fastest-growing LNG producing country could be scrapped in July.“With U.K. summer demand expected to be lower than average and with limits on storage capacity, it’s clear that there is very little space for any additional supplies,” Hadrien Collineau, a senior analyst at Wood Mackenzie Ltd., said in an emailed note.At least some cargo cancellations would translate into production curbs that could provide some respite from the global glut that has pushed prices to record lows. Shipments from other global suppliers have been robust despite the warm winter and the health crisis eroding demand as new plants keep pushing supply to the market.Cheniere Energy Inc., the nation’s biggest producer of LNG, received requests to cancel as many as 30 cargoes due for loading in July from buyers with long-term supply contracts, said people familiar with the situation. Cheniere may also cancel some of its own cargoes, which it typically sells into the spot market, the people said.For June, buyers told Cheniere that they would not lift at least 10 cargoes.Requests have been made to cancel shipments from both the Sabine Pass and Corpus Christi plants in the U.S. Buyers from Europe to Asia have also made requests to cancel July loading shipments from other American projects, including from Sempra Energy’s Cameron terminal in Louisiana and Freeport LNG Development LP’s Texas project, according to the people.Freeport LNG declined to comment. Cameron LNG said in an emailed response to questions that customers have made some modifications to their production and cargo loading plans in response to current market conditions, without providing specifics. U.S. LNG export history in number of cargoes:Economics for sending U.S. LNG to markets in Asia and Europe have rapidly deteriorated. The Henry Hub benchmark in the U.S., the main price link for U.S. LNG, is now above prices in European hubs. While Asian spot prices rebounded from record lows, they still don’t make U.S. exports profitable.Current forward prices indicate that traders will lose more than $0.70 per million British thermal units on LNG export operations from the Gulf Coast to Rotterdam, and more than $0.40 per million Btu for exports to Tokyo in July 2020, Anna Borisova, an analyst at BloombergNEF said in a note.“Negative profit margins for U.S. LNG exports suggest that cancellations may continue until October 2020,” she said. “Even the buyers that consider both liquefaction and LNG tankers as a sunk cost will make losses if they decide to export the commodity.”Storage sites in Europe, the closest market for U.S. cargoes, are already fuller than normal, limiting capacity to receive more imports in the latter part of the summer.There are signs U.S. LNG cargo cancellations may be starting to feed into actual production curbs as natural gas flows to U.S. export plants plummeted to their lowest level in seven months.Most of Cheniere buyers had to submit requests to cancel July loading shipments by Wednesday. Cheniere declined to comment on commercial discussions with its customers or operations.“The flexibility inherent in our LNG contracts – destination flexibility and the option to not lift cargoes, but pay the liquefaction fee – helps our customers effectively manage their energy portfolios through market cycles, while still providing Cheniere with reliable cash flow,” the company said in an email.(Update with Cameron LNG comment in the eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE American: CQP) today announced that its subsidiary, Sabine Pass Liquefaction, LLC ("SPL"), has priced its previously announced offering of Senior Secured Notes due 2030 (the "SPL 2030 Notes"). The principal amount of the SPL 2030 Notes will be $2.0 billion and the SPL 2030 Notes will bear interest at a rate of 4.500% per annum. The SPL 2030 Notes will be issued at a price equal to 99.744% of par to yield 4.532% and will mature on May 15, 2030. The closing of the offering is expected to occur on May 8, 2020.
Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE American: CQP) today announced that its subsidiary, Sabine Pass Liquefaction, LLC ("SPL"), intends to offer, subject to market and other conditions, a benchmark principal amount of Senior Secured Notes due 2030 (the "SPL 2030 Notes").
Joining me today are Jack Fusco, Cheniere's president and CEO; Anatol Feygin, executive vice president and chief commercial officer; and Michael Wortley, executive vice president and CFO. The call agenda is shown on Slide 3.
Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE American: CQP) today declared (i) a cash distribution per common and subordinated unit of $0.64 ($2.56 annualized) to unitholders of record as of May 7, 2020, and (ii) the related distribution to its general partner. These distributions are payable on May 15, 2020.
Buyers in Asia and Europe have cancelled the loading of around 20 cargoes of liquefied natural gas (LNG) in the United States in June, four trade sources said on Wednesday. The majority of the cargoes were cancelled from Cheniere Energy's <LNG.A> plants, Sabine Pass in Louisiana and Corpus Christi in Texas for June loading, the sources said. One of them said 10 different companies cancelled a total of 17 cargoes from the Cheniere projects, with five from the Freeport plant in Texas.
The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday. This is the first shipment since March 2019 after a long-standing trade war in which China raised tariffs on LNG imports from the United States to 25% last year. The tanker berthed on Monday in Tianjin, where China National Offshore Oil Corp (CNOOC) and Sinopec <600028.SS> operate LNG terminals, ship-tracking data from Refinitiv and data intelligence firm Kpler showed.