Covenant Asset Management LLC Trims Stock Position in Cheniere Energy, Inc. (NYSEAMERICAN:LNG)

Covenant Asset Management LLC cut its holdings in shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,575 shares of the energy company’s stock after selling 232 shares during the period. Cheniere Energy accounts for about 1.0% of Covenant Asset Management LLC’s holdings, making the stock its 25th biggest position. Covenant Asset Management LLC’s holdings in Cheniere Energy were worth $3,897,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LNG. Capital World Investors acquired a new stake in shares of Cheniere Energy in the first quarter valued at approximately $391,652,000. Norges Bank purchased a new position in shares of Cheniere Energy in the 4th quarter valued at $261,515,000. BlackRock Inc. boosted its position in shares of Cheniere Energy by 5.6% in the first quarter. BlackRock Inc. now owns 22,604,099 shares of the energy company’s stock worth $3,562,406,000 after buying an additional 1,200,755 shares during the period. Renaissance Technologies LLC grew its position in Cheniere Energy by 109.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,836,348 shares of the energy company’s stock valued at $275,379,000 after acquiring an additional 959,800 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in Cheniere Energy by 167.6% in the 4th quarter. Voya Investment Management LLC now owns 1,376,530 shares of the energy company’s stock valued at $206,424,000 after buying an additional 862,174 shares during the last quarter. 85.86% of the stock is currently owned by institutional investors and hedge funds.

Cheniere Energy Trading Down 0.2 %

NYSEAMERICAN:LNG traded down $0.32 during mid-day trading on Tuesday, hitting $163.03. 160,504 shares of the company’s stock were exchanged, compared to its average volume of 1,636,210. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 3.60. Cheniere Energy, Inc. has a fifty-two week low of $135.00 and a fifty-two week high of $182.35. The firm has a market capitalization of $39.23 billion, a P/E ratio of 4.53, a PEG ratio of 0.34 and a beta of 1.02. The company has a 50 day simple moving average of $153.36 and a 200-day simple moving average of $152.22.

Cheniere Energy (NYSEAMERICAN:LNG) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $2.80. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.25 billion. Cheniere Energy had a return on equity of 481.80% and a net margin of 28.47%. The business’s revenue was down 48.8% compared to the same quarter last year. During the same period last year, the business posted $2.90 EPS. As a group, research analysts expect that Cheniere Energy, Inc. will post 16.65 earnings per share for the current year.

Cheniere Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.395 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.58 dividend on an annualized basis and a yield of 0.97%. Cheniere Energy’s dividend payout ratio (DPR) is currently 4.65%.

Analyst Ratings Changes

Several brokerages have recently commented on LNG. Capital One Financial started coverage on shares of Cheniere Energy in a research report on Wednesday, September 6th. They set an “overweight” rating and a $200.00 price target on the stock. Mizuho decreased their price target on Cheniere Energy from $200.00 to $187.00 in a research note on Thursday, June 22nd. Wells Fargo & Company reduced their price objective on Cheniere Energy from $230.00 to $222.00 in a research note on Tuesday, August 8th. Bank of America lifted their price target on Cheniere Energy from $172.00 to $194.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Finally, StockNews.com began coverage on Cheniere Energy in a report on Saturday, August 19th. They set a “strong-buy” rating for the company. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cheniere Energy has an average rating of “Buy” and an average price target of $199.62.

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 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.