Meritage Portfolio Management Has $14.49 Million Holdings in Cheniere Energy, Inc. $LNG

Meritage Portfolio Management cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 5.6% during the second quarter, HoldingsChannel.com reports. The firm owned 59,514 shares of the energy company’s stock after selling 3,519 shares during the quarter. Cheniere Energy makes up 0.9% of Meritage Portfolio Management’s portfolio, making the stock its 24th biggest position. Meritage Portfolio Management’s holdings in Cheniere Energy were worth $14,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. CWM LLC lifted its position in Cheniere Energy by 64.6% during the 2nd quarter. CWM LLC now owns 14,413 shares of the energy company’s stock valued at $3,510,000 after purchasing an additional 5,655 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Cheniere Energy by 13.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 24,932 shares of the energy company’s stock valued at $6,073,000 after purchasing an additional 2,984 shares during the period. Concurrent Investment Advisors LLC lifted its position in Cheniere Energy by 11.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,992 shares of the energy company’s stock valued at $1,459,000 after purchasing an additional 592 shares during the period. Johnson Investment Counsel Inc. lifted its position in Cheniere Energy by 11.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,018 shares of the energy company’s stock valued at $248,000 after purchasing an additional 108 shares during the period. Finally, waypoint wealth counsel bought a new stake in shares of Cheniere Energy in the 2nd quarter valued at about $289,000. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LNG has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cheniere Energy in a research note on Wednesday. Barclays reaffirmed an “overweight” rating and issued a $262.00 price target (up from $253.00) on shares of Cheniere Energy in a research note on Tuesday, July 15th. TD Cowen upped their price target on Cheniere Energy from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Zacks Research raised Cheniere Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Bank of America upped their price target on Cheniere Energy from $258.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $263.60.

Cheniere Energy Stock Down 1.7%

Cheniere Energy stock opened at $227.56 on Friday. The stock has a market capitalization of $50.01 billion, a PE ratio of 13.28 and a beta of 0.37. Cheniere Energy, Inc. has a twelve month low of $180.62 and a twelve month high of $257.65. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average of $235.33 and a 200-day moving average of $232.94.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $2.35 by $4.95. The company had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.84 earnings per share. On average, equities research analysts anticipate that Cheniere Energy, Inc. will post 11.69 EPS for the current fiscal year.

Cheniere Energy Company Profile

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.