Virtu Financial LLC raised its stake in Cheniere Energy, Inc. (NYSE:LNG – Free Report) by 79.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,193 shares of the energy company’s stock after buying an additional 4,498 shares during the period. Virtu Financial LLC’s holdings in Cheniere Energy were worth $1,981,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in LNG. Norges Bank bought a new position in Cheniere Energy in the fourth quarter valued at $731,774,000. Marshall Wace LLP lifted its stake in Cheniere Energy by 555.0% during the fourth quarter. Marshall Wace LLP now owns 810,138 shares of the energy company’s stock worth $157,483,000 after purchasing an additional 686,459 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cheniere Energy by 518.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 577,533 shares of the energy company’s stock worth $112,267,000 after purchasing an additional 484,198 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cheniere Energy by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock worth $4,124,870,000 after purchasing an additional 414,022 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Cheniere Energy by 3,902.4% during the 4th quarter. Voloridge Investment Management LLC now owns 389,676 shares of the energy company’s stock valued at $75,749,000 after purchasing an additional 379,940 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.
Insider Buying and Selling
In related news, CFO Zach Davis sold 29,000 shares of Cheniere Energy stock in a transaction on Monday, March 30th. The shares were sold at an average price of $300.00, for a total value of $8,700,000.00. Following the sale, the chief financial officer owned 87,146 shares in the company, valued at $26,143,800. The trade was a 24.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sean N. Markowitz sold 22,246 shares of the business’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the transaction, the executive vice president directly owned 64,000 shares in the company, valued at approximately $18,622,720. The trade was a 25.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.55% of the stock is owned by corporate insiders.
Cheniere Energy Stock Performance
Cheniere Energy (NYSE:LNG – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.69 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Cheniere Energy, Inc. will post 14.93 EPS for the current year.
Cheniere Energy declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 21.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Cheniere Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 annualized dividend and a dividend yield of 1.0%. Cheniere Energy’s payout ratio is 36.51%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on LNG. TD Cowen raised their price objective on Cheniere Energy from $265.00 to $270.00 and gave the company a “buy” rating in a report on Monday, May 11th. BMO Capital Markets increased their price target on shares of Cheniere Energy from $265.00 to $306.00 and gave the company an “outperform” rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. lifted their price target on shares of Cheniere Energy from $325.00 to $327.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Bank of America boosted their price objective on shares of Cheniere Energy from $296.00 to $322.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Benchmark reaffirmed an “outperform” rating on shares of Cheniere Energy in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.71.
Read Our Latest Stock Report on LNG
About Cheniere Energy
Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.
Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.
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