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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

3 May 21
28 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 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) 2.4B 2.4B 2.4B 2.4B 2.4B 2.4B
Cash burn (monthly) (positive/no burn) 35.92M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 140.46M n/a n/a n/a n/a
Cash remaining n/a 2.26B n/a n/a n/a n/a
Runway (months of cash) n/a 62.9 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
1 Jul 21 Patricia K Collawn Common Stock Grant Aquire A No No 0 2,937 0 2,937
1 Jul 21 Lorraine Mitchelmore Common Stock Grant Aquire A No No 0 2,937 0 3,237
1 Jul 21 Zach Davis Common Stock Payment of exercise Dispose F No No 87.01 2,523 219.53K 107,969

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 498 488 +2.0%
Opened positions 78 86 -9.3%
Closed positions 68 52 +30.8%
Increased positions 157 156 +0.6%
Reduced positions 170 164 +3.7%
13F shares
Current Prev Q Change
Total value 18.82B 15.89B +18.4%
Total shares 231.91M 231.1M +0.4%
Total puts 1.08M 1.79M -39.8%
Total calls 1.39M 1.76M -21.2%
Total put/call ratio 0.8 1.0 -23.6%
Largest owners
Shares Value Change
Vanguard 21.26M $1.53B +1.3%
BLK Blackrock 16.99M $1.22B -4.7%
Icahn Carl C Et Al 16.17M $1.16B 0.0%
BX Blackstone Group Inc 12.3M $885.4M +36.3%
DB Deutsche Bank AG - Registered Shares 10.53M $758.4M +5.2%
Manufacturers Life Insurance Company, The 10M $720.12M +1.2%
Abu Dhabi Investment Authority 9.64M $578.72M 0.0%
FMR 7.88M $567.61M +3.3%
American Century Companies 5.97M $429.69M -2.7%
STT State Street 5.8M $417.63M +0.9%
Largest transactions
Shares Bought/sold Change
BX Blackstone Group Inc 12.3M +3.28M +36.3%
Sixth Street Partners Management 2.19M +2.19M NEW
GS Goldman Sachs 5.36M -1.94M -26.6%
Norges Bank 0 -1.64M EXIT
Kensico Capital Management 3.28M -1.5M -31.3%
Holocene Advisors 139.27K -1.28M -90.2%
Energy Income Partners 921.58K +921.58K NEW
BLK Blackrock 16.99M -841.8K -4.7%
Massachusetts Financial Services 220.54K -833.15K -79.1%
PointState Capital 802.92K +802.92K NEW

Financial report summary

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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
  • ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • This quarterly report contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical or present facts or conditions, included herein or incorporated herein by reference are “forward-looking statements.” Included among “forward-looking statements” are, among other things: 
  • •any other statements that relate to non-historical or future information.
Content analysis
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Legalese
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