Beaconlight Capital LLC cut its stake in Cheniere Energy, Inc. (NYSE:LNG – Free Report) by 40.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,835 shares of the energy company’s stock after selling 24,304 shares during the period. Cheniere Energy makes up 4.1% of Beaconlight Capital LLC’s holdings, making the stock its 10th largest position. Beaconlight Capital LLC’s holdings in Cheniere Energy were worth $6,966,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LNG. Brighton Jones LLC acquired a new position in Cheniere Energy in the 4th quarter worth $335,000. Bank of Nova Scotia boosted its stake in Cheniere Energy by 13.3% in the 2nd quarter. Bank of Nova Scotia now owns 8,825 shares of the energy company’s stock worth $2,149,000 after purchasing an additional 1,035 shares during the period. Sei Investments Co. boosted its stake in Cheniere Energy by 23.1% in the 2nd quarter. Sei Investments Co. now owns 183,153 shares of the energy company’s stock worth $44,600,000 after purchasing an additional 34,422 shares during the period. Treasurer of the State of North Carolina boosted its stake in Cheniere Energy by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 103,040 shares of the energy company’s stock worth $25,092,000 after purchasing an additional 805 shares during the period. Finally, Ieq Capital LLC boosted its stake in Cheniere Energy by 87.0% in the 2nd quarter. Ieq Capital LLC now owns 36,502 shares of the energy company’s stock worth $8,889,000 after purchasing an additional 16,977 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Cheniere Energy in a research note on Tuesday, June 2nd. The Goldman Sachs Group upped their target price on shares of Cheniere Energy from $276.00 to $312.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Zacks Research downgraded shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. UBS Group set a $290.00 price objective on shares of Cheniere Energy in a research note on Wednesday, May 13th. Finally, Barclays increased their price objective on shares of Cheniere Energy from $259.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Cheniere Energy has a consensus rating of “Moderate Buy” and an average price target of $297.71.
Cheniere Energy Trading Up 0.3%
Cheniere Energy stock opened at $231.67 on Thursday. Cheniere Energy, Inc. has a one year low of $186.20 and a one year high of $300.89. The company has a market cap of $48.55 billion and a price-to-earnings ratio of 38.10. The firm has a 50-day moving average of $248.29 and a 200-day moving average of $231.97. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48.
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 the consensus estimate of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect that Cheniere Energy, Inc. will post 14.93 earnings per share for the current fiscal year.
Cheniere Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 11th were issued a dividend of $0.555 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.0%. Cheniere Energy’s payout ratio is presently 36.51%.
Cheniere Energy declared that its board has authorized a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the energy company to repurchase up to 21.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling
In related news, CFO Zach Davis sold 29,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 87,146 shares of the company’s stock, valued at approximately $26,143,800. The trade was a 24.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean N. Markowitz sold 22,246 shares of the business’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 value of $6,473,141.08. Following the transaction, the executive vice president directly owned 64,000 shares in the company, valued at $18,622,720. The trade was a 25.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is currently owned by insiders.
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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