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LNG Cheniere Energy

Cheniere Energy, Inc. engages in liquefied natural gas (LNG) related businesses. It owns and operates LNG terminals, and develops, constructs, and operates liquefaction projects near Corpus Christi, Texas, and at the Sabine Pass LNG terminal. The company was founded by Charif Souki in 1983 and is headquartered in Houston, TX.

Company profile

Ticker
LNG
Exchange
CEO
Jack A. Fusco
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
BEXY COMMUNICATIONS INC, CHENIERE ENERGY INC
SEC CIK
IRS number
954352386

LNG stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

23 Feb 21
17 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.08B 2.08B 2.08B 2.08B 2.08B 2.08B
Cash burn (monthly) 178.67M 76.42M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 637.84M 272.81M n/a n/a n/a n/a
Cash remaining 1.44B 1.8B n/a n/a n/a n/a
Runway (months of cash) 8.1 23.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Mar 21 Kilpatrick David B Common Stock Sell Dispose S No No 75.5001 4,397 331.97K 9,938
16 Mar 21 Kilpatrick David B Common Stock Sell Dispose S Yes No 75.5825 5,603 423.49K 69,862
14 Feb 21 Travis Leonard Common Stock Payment of exercise Dispose F No No 67.62 848 57.34K 71,959
14 Feb 21 Sean N Markowitz Common Stock Payment of exercise Dispose F No No 67.62 6,766 457.52K 108,263
14 Feb 21 Stephenson Aaron D. Common Stock Payment of exercise Dispose F No No 67.62 10,413 704.13K 76,895
14 Feb 21 Anatol Feygin Common Stock Payment of exercise Dispose F No No 67.62 13,364 903.67K 220,414
13 Feb 21 Travis Leonard Common Stock Payment of exercise Dispose F No No 67.62 1,172 79.25K 72,807
13 Feb 21 Sean N Markowitz Common Stock Payment of exercise Dispose F No No 67.62 1,783 120.57K 115,029
13 Feb 21 Stephenson Aaron D. Common Stock Payment of exercise Dispose F No No 67.62 2,399 162.22K 87,308
13 Feb 21 Anatol Feygin Common Stock Payment of exercise Dispose F No No 67.62 2,847 192.51K 233,778

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

91.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 485 454 +6.8%
Opened positions 83 54 +53.7%
Closed positions 52 43 +20.9%
Increased positions 156 125 +24.8%
Reduced positions 164 178 -7.9%
13F shares
Current Prev Q Change
Total value 15.9B 10.04B +58.4%
Total shares 230.85M 216.89M +6.4%
Total puts 1.79M 1.7M +5.3%
Total calls 1.76M 1.64M +7.3%
Total put/call ratio 1.0 1.0 -1.9%
Largest owners
Shares Value Change
Vanguard 20.97M $1.26B -1.9%
BLK Blackrock 17.83M $1.07B +19.2%
Icahn Carl C Et Al 16.17M $970.6M -19.7%
DB Deutsche Bank AG - Registered Shares 10.01M $600.96M +3.2%
Manufacturers Life Insurance Company, The 9.88M $592.91M -2.7%
Abu Dhabi Investment Authority 9.64M $578.72M NEW
BX Blackstone Group Inc 9.02M $541.49M +6.8%
FMR 7.63M $458M -5.6%
GS Goldman Sachs 7.3M $438.5M +1.4%
American Century Companies 6.13M $368.15M +42.5%
Largest transactions
Shares Bought/sold Change
Abu Dhabi Investment Authority 9.64M +9.64M NEW
Icahn Carl C Et Al 16.17M -3.96M -19.7%
Zimmer Partners 528.53K -3.42M -86.6%
BLK Blackrock 17.83M +2.88M +19.2%
BMO Bank of Montreal 2.92M +2.84M +3881.1%
Steadfast Capital Management 5.13M +2.82M +121.9%
Advent International 0 -2.33M EXIT
American Century Companies 6.13M +1.83M +42.5%
Norges Bank 1.64M +1.64M NEW
King Street Capital Management 0 -1.5M EXIT

Financial report summary

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Competition
Stabilis Solutions
Risks
  • Our existing level of cash resources and significant debt could cause us to have inadequate liquidity and could materially and adversely affect our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • We have not always been profitable historically. We may not be able to achieve sustained profitability or generate positive operating cash flow in the future.
  • We may sell equity or equity-related securities or assets, including equity interests in Cheniere Partners. Such sales could dilute our proportionate interests in our assets, business operations and proposed projects of Cheniere Partners or other subsidiaries, and could adversely affect the market price of our common stock.
  • Our stockholders may experience dilution upon the conversion of our convertible notes.
  • Our ability to generate cash is substantially dependent upon the performance by customers under long-term contracts that we have entered into, and we could be materially and adversely affected if any significant customer fails to perform its contractual obligations for any reason.
  • Each of our customer contracts is subject to termination under certain circumstances.
  • Our subsidiaries may be restricted under the terms of their indebtedness from making distributions under certain circumstances, which may limit Cheniere Partners’ ability to pay or increase distributions to us or inhibit our access to cash flows from the CCL Project and could materially and adversely affect us.
  • Restrictions in agreements governing us and our subsidiaries’ indebtedness may prevent us and our subsidiaries from engaging in certain beneficial transactions.
  • Our use of hedging arrangements may adversely affect our future operating results or liquidity.
  • The regulatory and other provisions of the Dodd-Frank Act and the rules adopted thereunder and other regulations, including EMIR and REMIT, could adversely affect our ability to hedge risks associated with our business and our operating results and cash flows.
  • Cost overruns and delays in the completion of one or more Trains, as well as difficulties in obtaining sufficient financing to pay for such costs and delays, could have a material adverse effect on our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • Our ability to complete development of additional Trains will be contingent on our ability to obtain additional funding. If we are unable to obtain sufficient funding, we may be unable to fully execute our business strategy.
  • Hurricanes or other disasters could result in an interruption of our operations, a delay in the completion of our Liquefaction Projects, damage to our Liquefaction Projects and increased insurance costs, all of which could adversely affect us.
  • Delays in the completion of one or more Trains could lead to reduced revenues or termination of one or more of the SPAs by our customers.
  • We are dependent on Bechtel and other contractors for the successful completion of the Liquefaction Projects.
  • If third-party pipelines and other facilities interconnected to our pipelines and facilities are or become unavailable to transport natural gas, this could have a material adverse effect on our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • We may not be able to purchase or receive physical delivery of sufficient natural gas to satisfy our delivery obligations under the SPAs, which could have a material adverse effect on us.
  • Our interstate natural gas pipelines and their FERC gas tariffs are subject to FERC regulation.
  • Pipeline safety integrity programs and repairs may impose significant costs and liabilities on us.
  • Any reduction in the capacity of, or the allocations to, interconnecting, third-party pipelines could cause a reduction of volumes transported in our pipelines, which would adversely affect our revenues and cash flow.
  • Our business could be materially and adversely affected if we lose the right to situate our pipelines on property owned by third parties.
  • We are relying on estimates for the future capacity ratings and performance capabilities of the Liquefaction Projects, and these estimates may prove to be inaccurate.
  • Any failure to perform by our counterparties under agreements may adversely affect our operating results, liquidity and access to financing.
  • We may not construct or operate all of our proposed LNG facilities or Trains or any additional LNG facilities or Trains beyond those currently planned, which could limit our growth prospects.
  • Cyclical or other changes in the demand for and price of LNG and natural gas may adversely affect our LNG business and the performance of our customers and could have a material adverse effect on our business, contracts, financial condition, operating results, cash flows, liquidity and prospects.
  • Failure of imported or exported LNG to be a competitive source of energy for the United States or international markets could adversely affect our customers and could materially and adversely affect our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • Various economic and political factors could negatively affect the development, construction and operation of LNG facilities, including the Liquefaction Projects and expansion projects, which could have a material adverse effect on our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • There may be impediments to the transport of LNG, such as shortages of LNG vessels worldwide or operational impacts on LNG shipping, including maritime transportation routes, which could have a material adverse effect on our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • We may not be able to secure firm pipeline transportation capacity on economic terms that is sufficient to meet our feed gas transportation requirements, which could have a material adverse effect on us.
  • We face competition based upon the international market price for LNG.
  • Terrorist attacks, cyber incidents or military campaigns may adversely impact our business.
  • The COVID-19 global pandemic and volatility in the energy markets may materially and adversely affect our business, financial condition, operating results, cash flow, liquidity and prospects.
  • Existing and future environmental and similar laws and governmental regulations could result in increased compliance costs or additional operating costs or construction costs and restrictions.
  • A major health and safety incident relating to our business could be costly in terms of potential liabilities and reputational damages.
  • We may experience increased labor costs, and the unavailability of skilled workers or our failure to attract and retain qualified personnel could adversely affect us. In addition, changes in our senior management or other key personnel could affect our business results.
  • Our lack of diversification could have an adverse effect on our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
  • We may incur impairments to goodwill or long-lived assets.
  • We cannot guarantee that our share repurchase program will be fully consummated or that it will enhance long-term stockholder value.
Management Discussion
  • Total revenues decreased during the year ended December 31, 2020 from the comparable period in 2019, primarily as a result of decreased revenues recognized by our integrated marketing function due to the recent downturn in the energy market and the absence of variable fees for cargoes in which customers notified us they would not take delivery. During the year ended December 31, 2020, we recognized $969 million in revenues associated with LNG cargoes for which customers notified us that they would not take delivery, of which $38 million would have been recognized subsequent to December 31, 2020, if the cargoes were lifted pursuant to the delivery schedules with the customers. The increase in revenue attributable to LNG volume sold during the year ended December 31, 2019 from the comparable period in 2018 was due to increased volume of LNG sold following the achievement of substantial completion of Trains between the years, partially offset by decreased LNG revenues per MMBtu, which was primarily affected by market prices realized for volumes sold by our integrated marketing function. We expect our LNG revenues to increase in the future upon Train 3 of the CCL Project and Train 6 of the SPL Project becoming operational.
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