Bridges Investment Management Inc. Acquires Shares of 9,118 Cheniere Energy, Inc. (NYSE:LNG)

Bridges Investment Management Inc. bought a new position in shares of Cheniere Energy, Inc. (NYSE:LNG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,118 shares of the energy company’s stock, valued at approximately $1,594,000.

Several other hedge funds have also recently modified their holdings of LNG. PNC Financial Services Group Inc. raised its holdings in shares of Cheniere Energy by 2.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,866 shares of the energy company’s stock valued at $2,196,000 after acquiring an additional 339 shares during the last quarter. US Bancorp DE raised its stake in Cheniere Energy by 23.8% in the 4th quarter. US Bancorp DE now owns 14,804 shares of the energy company’s stock valued at $2,527,000 after purchasing an additional 2,850 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Cheniere Energy by 1.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 61,635 shares of the energy company’s stock valued at $10,522,000 after purchasing an additional 1,120 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Cheniere Energy by 2.8% in the 4th quarter. Intech Investment Management LLC now owns 19,982 shares of the energy company’s stock valued at $3,411,000 after purchasing an additional 549 shares in the last quarter. Finally, Quarry LP boosted its stake in Cheniere Energy by 156.3% during the 4th quarter. Quarry LP now owns 305 shares of the energy company’s stock worth $52,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Cheniere Energy from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Barclays raised their target price on shares of Cheniere Energy from $194.00 to $199.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Stifel Nicolaus dropped 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. Finally, Sanford C. Bernstein started coverage on Cheniere Energy in a research report on Monday, June 24th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $196.25.

Cheniere Energy Trading Down 0.8 %

LNG opened at $180.61 on Friday. The stock has a market capitalization of $41.34 billion, a PE ratio of 8.80 and a beta of 0.95. Cheniere Energy, Inc. has a one year low of $152.31 and a one year high of $187.44. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.93 and a current ratio of 1.02. The business’s 50 day moving average price is $180.76 and its 200 day moving average price is $167.71.

Cheniere Energy (NYSE:LNG) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported $3.84 EPS for the quarter, beating the consensus estimate of $1.71 by $2.13. The business 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 quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.61 EPS. As a group, equities research analysts expect that Cheniere Energy, Inc. will post 9.74 EPS for the current year.

Cheniere Energy announced that its Board of Directors has authorized a share repurchase plan on Monday, June 17th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the energy company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback plans are typically 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.