Private Advisor Group LLC Lowers Position in Cheniere Energy, Inc. (NYSE:LNG)

Private Advisor Group LLC lowered its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 21.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,899 shares of the energy company’s stock after selling 1,369 shares during the quarter. Private Advisor Group LLC’s holdings in Cheniere Energy were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Cheniere Energy by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,270,853 shares of the energy company’s stock valued at $921,503,000 after acquiring an additional 413,744 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Cheniere Energy by 9.2% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 3,242,899 shares of the energy company’s stock valued at $566,956,000 after purchasing an additional 273,588 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Cheniere Energy by 7.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,921,837 shares of the energy company’s stock valued at $510,825,000 after purchasing an additional 202,097 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Cheniere Energy by 5.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,060,622 shares of the energy company’s stock valued at $360,259,000 after purchasing an additional 99,678 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Cheniere Energy by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,980,767 shares of the energy company’s stock valued at $346,268,000 after purchasing an additional 240,427 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Cheniere Energy Price Performance

LNG opened at $187.67 on Friday. The stock’s 50 day simple moving average is $183.29 and its 200 day simple moving average is $173.23. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.02 and a quick ratio of 0.93. Cheniere Energy, Inc. has a 1 year low of $152.31 and a 1 year high of $193.16. The firm has a market cap of $42.46 billion, a price-to-earnings ratio of 10.00 and a beta of 0.94.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $2.06. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the business posted $2.37 EPS. The business’s revenue was down 9.5% on a year-over-year basis. As a group, analysts predict that Cheniere Energy, Inc. will post 10.11 earnings per share for the current year.

Cheniere Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, November 8th. Cheniere Energy’s dividend payout ratio (DPR) is currently 9.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LNG. Bank of America began coverage on Cheniere Energy in a research report on Thursday, October 17th. They set a “buy” rating and a $215.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays increased their price objective on Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price objective on Cheniere Energy from $201.00 to $217.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

About Cheniere Energy

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 natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate 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.