Summit Financial LLC Acquires 636 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Summit Financial LLC grew its holdings in Cheniere Energy, Inc. (NYSE:LNG) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,013 shares of the energy company’s stock after acquiring an additional 636 shares during the quarter. Summit Financial LLC’s holdings in Cheniere Energy were worth $1,051,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Cheniere Energy in the 4th quarter valued at approximately $308,910,000. TD Asset Management Inc lifted its position in Cheniere Energy by 231.8% during the 1st quarter. TD Asset Management Inc now owns 1,338,752 shares of the energy company’s stock worth $215,914,000 after buying an additional 935,239 shares in the last quarter. Zimmer Partners LP boosted its stake in shares of Cheniere Energy by 61.4% during the 1st quarter. Zimmer Partners LP now owns 1,222,723 shares of the energy company’s stock worth $197,201,000 after buying an additional 465,000 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Cheniere Energy during the 1st quarter worth about $70,682,000. Finally, BROOKFIELD Corp ON grew its holdings in shares of Cheniere Energy by 30.4% in the 1st quarter. BROOKFIELD Corp ON now owns 1,593,308 shares of the energy company’s stock valued at $256,969,000 after acquiring an additional 371,061 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LNG. Stifel Nicolaus reduced their price target on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Cheniere Energy from $213.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 17th. TD Cowen raised their target price on shares of Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Sanford C. Bernstein began coverage on shares of Cheniere Energy in a research report on Monday, June 24th. They set an “outperform” rating on the stock. Finally, Barclays increased their price target on shares of Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.40.

Cheniere Energy Stock Performance

Shares of NYSE LNG opened at $185.26 on Tuesday. Cheniere Energy, Inc. has a one year low of $152.31 and a one year high of $187.44. The firm has a market cap of $42.41 billion, a price-to-earnings ratio of 9.02 and a beta of 0.96. The stock’s fifty day moving average price is $179.11 and its two-hundred day moving average price is $165.51. 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 (NYSE:LNG) last issued its quarterly earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $2.13. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.52 billion. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter last year, the company posted $5.61 EPS. On average, equities analysts forecast that Cheniere Energy, Inc. will post 9.74 EPS for the current year.

Cheniere Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, August 9th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 0.94%. Cheniere Energy’s payout ratio is presently 8.48%.

Cheniere Energy announced that its board has approved a stock repurchase program on Monday, June 17th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the energy company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Cheniere Energy 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 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.