Balboa Wealth Partners Cuts Stock Position in Cheniere Energy, Inc. $LNG

Balboa Wealth Partners lessened its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 7.4% during the 2nd quarter, Holdings Channel reports. The firm owned 3,760 shares of the energy company’s stock after selling 299 shares during the period. Balboa Wealth Partners’ holdings in Cheniere Energy were worth $916,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new position in Cheniere Energy in the 2nd quarter valued at approximately $384,806,000. Nuveen LLC acquired a new stake in shares of Cheniere Energy in the first quarter valued at $294,793,000. Massachusetts Financial Services Co. MA boosted its holdings in Cheniere Energy by 12.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company’s stock valued at $1,078,450,000 after purchasing an additional 534,033 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cheniere Energy by 33.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,031,767 shares of the energy company’s stock valued at $470,151,000 after purchasing an additional 504,960 shares during the period. Finally, Royal Bank of Canada grew its stake in Cheniere Energy by 25.7% during the 1st quarter. Royal Bank of Canada now owns 2,395,267 shares of the energy company’s stock worth $554,265,000 after purchasing an additional 488,994 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LNG has been the topic of a number of analyst reports. Mizuho increased their price target on Cheniere Energy from $268.00 to $273.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Wells Fargo & Company upped their target price on shares of Cheniere Energy from $267.00 to $284.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheniere Energy in a research note on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $262.00 price target (up previously from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Finally, Scotiabank restated an “outperform” rating on shares of Cheniere Energy in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $266.93.

Cheniere Energy Stock Performance

Shares of Cheniere Energy stock opened at $218.67 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. Cheniere Energy, Inc. has a 52 week low of $180.62 and a 52 week high of $257.65. The firm’s 50 day moving average is $234.02 and its two-hundred day moving average is $232.81. The firm has a market capitalization of $48.06 billion, a P/E ratio of 12.77 and a beta of 0.37.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Thursday, August 7th. The energy company reported $7.30 earnings per share for the quarter, topping the consensus estimate of $2.35 by $4.95. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The company’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.84 EPS. Research analysts forecast 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.