Cheniere's 1Q Meets Expectations; Reaffirms 2019 Guidance
Cheniere reported first-quarter results that met our expectations and reaffirmed 2019 EBITDA guidance of $2.9 billion-$3.2 billion in EBITDA, in line with our $3.2 billion forecast. We plan to maintain our fair value estimates and wide moat ratings for the Cheniere entities. The more interesting insights may come in a few weeks, when Cheniere provides an update on its capital-allocation policy with expected leverage, growth, and capital return targets. For now, Cheniere's trains under constructi...Cheniere Energy is an energy company engaged in liquefied natural gas (LNG)-related businesses. The company is focusing its development in the following LNG terminal projects, which is under construction: the Sabine Pass LNG terminal located in Cameron Parish, LA; and the Corpus Christi LNG terminal near Corpus Christi, TX. The company's subsidiary, Cheniere Energy Partners, L.P. is developing, constructing and operating natural gas liquefaction facilities at the Sabine Pass LNG terminal. The company is developing and constructing a natural gas liquefaction and export facility at the Corpus Christi LNG terminal and operates a natural gas supply pipeline. The company is also in various stages of developing other projects.
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