Pinebridge Investments LLC bought a new stake in shares of Cheniere Energy, Inc. (NYSE:LNG – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,037 shares of the energy company’s stock, valued at approximately $785,000.
Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Cheniere Energy by 2.0% in the fourth 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. State Street Corp grew its stake in Cheniere Energy by 6.7% in the third quarter. State Street Corp now owns 6,007,073 shares of the energy company’s stock worth $1,411,542,000 after purchasing an additional 377,369 shares in the last quarter. Norges Bank acquired a new position in Cheniere Energy in the fourth quarter worth about $731,774,000. Victory Capital Management Inc. grew its stake in Cheniere Energy by 21.5% in the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company’s stock worth $475,633,000 after purchasing an additional 359,123 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Cheniere Energy by 5.6% in the third quarter. Northern Trust Corp now owns 1,786,636 shares of the energy company’s stock worth $419,824,000 after purchasing an additional 95,545 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently commented on LNG. Scotiabank reiterated an “outperform” rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on 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 lifted their price target on Cheniere Energy from $296.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. BMO Capital Markets lifted their price target on Cheniere Energy from $265.00 to $306.00 and gave the stock an “outperform” rating in a research note on Monday, March 23rd. Finally, Benchmark reiterated an “outperform” rating on shares of Cheniere Energy in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $298.63.
Cheniere Energy Stock Performance
Shares of NYSE LNG opened at $239.07 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 2.55. The firm’s 50-day moving average price is $253.88 and its two-hundred day moving average price is $230.67. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The stock has a market capitalization of $50.10 billion and a P/E ratio of 39.32.
Cheniere Energy (NYSE:LNG – Get Free Report) last issued its 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 return on equity of 38.95% and a net margin of 7.23%.The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.69 billion. During the same period in the prior year, the business earned $1.57 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cheniere Energy, Inc. will post 14.93 earnings per share for the current year.
Cheniere Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were issued a $0.555 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is currently 36.51%.
Cheniere Energy announced that its board has authorized a share buyback plan on Thursday, February 26th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the energy company to reacquire up to 21.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Insider Transactions at Cheniere Energy
In other Cheniere Energy news, EVP Sean N. Markowitz sold 22,246 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $290.98, for a total value of $6,473,141.08. Following the transaction, the executive vice president owned 64,000 shares of the company’s stock, valued at $18,622,720. This trade represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zach Davis sold 29,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $300.00, for a total transaction of $8,700,000.00. Following the completion of the transaction, the chief financial officer directly owned 87,146 shares in the company, valued at $26,143,800. This represents a 24.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.55% of the company’s stock.
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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