Morningstar | Increasing Cheniere Energy and Cheniere Energy Partners' FVEs
After rolling our models to 2019, we're boosting our fair value estimates for Cheniere Energy and Cheniere Energy Partners to $75 and $40.50 from $70 and $36. The main component driving updated fair values was the time value of money. However, strong demand for liquefied natural gas from Asia over the winter, China in particular, continues to support our long-term forecast for sharply higher demand from China for U.S. LNG. Our fair value estimates also imply a 12.5-13 times 2021 EBITDA multiple, which is when we expect most trains to be in operations for both entities. The slightly higher percentage increase in our fair value for Cheniere Energy Partners was to ensure our valuations for both entities was consistent.For more on our LNG forecast, please see our November 2018 Energy Observer, "China Oil & Gas Demand: Above-Consensus Forecasts for Medium-Term Growth, but Electric Vehicles Loom Large for Oil."
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.