Parsons Capital Management Inc. RI Decreases Stock Holdings in Cheniere Energy, Inc. $LNG

Parsons Capital Management Inc. RI trimmed its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 13.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,250 shares of the energy company’s stock after selling 800 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Cheniere Energy were worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Cheniere Energy during the second quarter valued at about $384,806,000. Nuveen LLC acquired a new position in shares of Cheniere Energy during the first quarter valued at about $294,793,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Cheniere Energy by 12.9% during 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 acquiring an additional 534,033 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cheniere Energy by 33.1% during 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 acquiring an additional 504,960 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Cheniere Energy by 25.7% during the first quarter. Royal Bank of Canada now owns 2,395,267 shares of the energy company’s stock valued at $554,265,000 after acquiring an additional 488,994 shares in the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen upped their price objective on shares of Cheniere Energy from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 8th. Bank of America upped their price objective on shares of Cheniere Energy from $258.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Barclays restated an “overweight” rating and set a $262.00 price objective (up previously from $253.00) on shares of Cheniere Energy in a report on Tuesday, July 15th. Jefferies Financial Group set a $288.00 price objective on shares of Cheniere Energy and gave the company a “buy” rating in a report on Thursday, June 26th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cheniere Energy in a report on Tuesday, July 15th. One research analyst has 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, Cheniere Energy presently has an average rating of “Buy” and a consensus target price of $263.60.

Cheniere Energy Price Performance

Shares of NYSE:LNG opened at $231.68 on Friday. Cheniere Energy, Inc. has a twelve month low of $180.62 and a twelve month high of $257.65. The company’s 50 day moving average is $235.38 and its 200 day moving average is $232.80. The company has a current ratio of 0.98, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The company has a market cap of $50.92 billion, a PE ratio of 13.52 and a beta of 0.37.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings results 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 company had revenue of $4.64 billion for 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%. Cheniere Energy’s quarterly revenue was up 42.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 EPS. On average, sell-side analysts forecast that Cheniere Energy, Inc. will post 11.69 EPS for the current 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.