DnB Asset Management AS Raises Position in Cheniere Energy, Inc. (NYSEAMERICAN:LNG)

DnB Asset Management AS lifted its holdings in shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNGGet Rating) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,858 shares of the energy company’s stock after purchasing an additional 494 shares during the quarter. DnB Asset Management AS’s holdings in Cheniere Energy were worth $5,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in Cheniere Energy by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 31,256 shares of the energy company’s stock worth $3,170,000 after purchasing an additional 1,212 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in shares of Cheniere Energy by 7.2% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 19,722 shares of the energy company’s stock valued at $2,000,000 after buying an additional 1,332 shares during the period. abrdn plc increased its holdings in shares of Cheniere Energy by 5.1% during the 4th quarter. abrdn plc now owns 34,136 shares of the energy company’s stock worth $3,462,000 after buying an additional 1,659 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of Cheniere Energy by 450.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 121,138 shares of the energy company’s stock worth $12,286,000 after buying an additional 99,135 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cheniere Energy by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 764,497 shares of the energy company’s stock valued at $77,536,000 after acquiring an additional 21,121 shares during the last quarter. Hedge funds and other institutional investors own 88.17% of the company’s stock.

Insider Activity

In other news, SVP Aaron D. Stephenson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $168.21, for a total value of $504,630.00. Following the sale, the senior vice president now owns 56,016 shares in the company, valued at approximately $9,422,451.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Cheniere Energy Stock Performance

Shares of LNG stock opened at $167.25 on Monday. Cheniere Energy, Inc. has a twelve month low of $84.19 and a twelve month high of $178.62. The firm has a market capitalization of $41.78 billion, a PE ratio of -18.08 and a beta of 1.26. The company has a quick ratio of 0.93, a current ratio of 1.08 and a debt-to-equity ratio of 24.30.

Cheniere Energy (NYSEAMERICAN:LNGGet Rating) last announced its earnings results on Thursday, August 4th. The energy company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.07. Cheniere Energy had a positive return on equity of 30.72% and a negative net margin of 14.77%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the company earned ($1.30) earnings per share. The company’s revenue for the quarter was up 165.4% compared to the same quarter last year. As a group, equities analysts predict that Cheniere Energy, Inc. will post 10.91 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, August 16th. Shareholders of record on Tuesday, August 9th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, August 8th. Cheniere Energy’s payout ratio is -14.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LNG shares. Raymond James upped their price target on Cheniere Energy from $175.00 to $178.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 5th. Mizuho increased their target price on shares of Cheniere Energy from $167.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Cheniere Energy in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Cheniere Energy from $184.00 to $199.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 14th. Finally, Barclays lifted their target price on shares of Cheniere Energy from $160.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cheniere Energy currently has an average rating of “Buy” and an average price target of $173.45.

Cheniere Energy Company Profile

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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 pipeline interconnecting the Sabine Pass LNG terminal with various interstate 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.

See Also

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Institutional Ownership by Quarter for Cheniere Energy (NYSEAMERICAN:LNG)

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