Freemont Management S.A. boosted its holdings in Cheniere Energy, Inc. (NYSE:LNG – Free Report) by 200.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,600 shares of the energy company’s stock after purchasing an additional 4,400 shares during the quarter. Freemont Management S.A.’s holdings in Cheniere Energy were worth $1,283,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Independent Advisor Alliance grew its holdings in Cheniere Energy by 15.3% in the fourth quarter. Independent Advisor Alliance now owns 3,769 shares of the energy company’s stock worth $733,000 after purchasing an additional 500 shares during the period. Compound Global Advisors LLC purchased a new stake in Cheniere Energy in the fourth quarter worth about $62,000. World Investment Advisors grew its holdings in Cheniere Energy by 12.1% in the fourth quarter. World Investment Advisors now owns 2,240 shares of the energy company’s stock worth $435,000 after purchasing an additional 242 shares during the period. Empire Life Investments Inc. purchased a new stake in Cheniere Energy in the fourth quarter worth about $285,000. Finally, Meridian Wealth Management LLC grew its holdings in Cheniere Energy by 19.0% in the fourth quarter. Meridian Wealth Management LLC now owns 2,691 shares of the energy company’s stock worth $523,000 after purchasing an additional 429 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.
Insider Activity at Cheniere Energy
In related news, CFO Zach Davis sold 29,000 shares of the firm’s stock in a transaction that occurred 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 approximately $26,143,800. This trade represents a 24.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean N. Markowitz sold 22,246 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the completion of the sale, the executive vice president owned 64,000 shares in the company, valued at $18,622,720. This represents a 25.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.55% of the company’s stock.
Cheniere Energy Trading Down 2.0%
Cheniere Energy (NYSE:LNG – Get Free Report) last issued its earnings results on Thursday, May 7th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $4.25 by ($20.90). Cheniere Energy had a return on equity of 38.95% and a net margin of 7.23%.The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.69 billion. During the same quarter in the prior year, the business posted $1.57 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Cheniere Energy, Inc. will post 15.29 earnings per share for the current year.
Cheniere Energy announced that its Board of Directors has initiated a stock buyback program on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 21.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Cheniere Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, May 11th will be issued a $0.555 dividend. The ex-dividend date is Monday, May 11th. This represents a $2.22 annualized dividend and a yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is currently 36.51%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on LNG shares. Wolfe Research set a $220.00 price objective on shares of Cheniere Energy and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Bank of America increased their price target on shares of Cheniere Energy from $296.00 to $322.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley cut their price target on shares of Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Jefferies Financial Group increased their price target on shares of Cheniere Energy from $275.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their price target on shares of Cheniere Energy from $286.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cheniere Energy has a consensus rating of “Moderate Buy” and an average price target of $293.50.
View Our Latest Report on Cheniere Energy
Cheniere Energy Company Profile
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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