NewEdge Advisors LLC Sells 1,165 Shares of Cheniere Energy, Inc. (NYSE:LNG)

NewEdge Advisors LLC cut its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 5.4% in the second quarter, Holdings Channel reports. The institutional investor owned 20,524 shares of the energy company’s stock after selling 1,165 shares during the period. NewEdge Advisors LLC’s holdings in Cheniere Energy were worth $3,588,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in shares of Cheniere Energy by 27.1% during the first quarter. Daiwa Securities Group Inc. now owns 29,235 shares of the energy company’s stock worth $4,715,000 after buying an additional 6,235 shares in the last quarter. Sei Investments Co. boosted its position in Cheniere Energy by 6.7% during the first quarter. Sei Investments Co. now owns 187,236 shares of the energy company’s stock valued at $30,198,000 after purchasing an additional 11,800 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Cheniere Energy by 103.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,577 shares of the energy company’s stock worth $5,093,000 after purchasing an additional 16,044 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Cheniere Energy by 215.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 62,551 shares of the energy company’s stock worth $10,936,000 after purchasing an additional 42,737 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Cheniere Energy during the 1st quarter worth approximately $818,000. 87.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LNG. Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a report on Monday, June 24th. They set an “outperform” rating on the stock. TD Cowen upped their price target on shares of Cheniere Energy from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Barclays upped their price target on shares of Cheniere Energy from $194.00 to $199.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus dropped their price target on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.25.

Cheniere Energy Price Performance

Shares of LNG opened at $184.55 on Thursday. The firm has a market capitalization of $42.25 billion, a PE ratio of 8.99 and a beta of 0.95. The company’s 50-day moving average is $181.00 and its 200-day moving average is $169.16. Cheniere Energy, Inc. has a fifty-two week low of $152.31 and a fifty-two week high of $187.44. 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 data on Thursday, August 8th. The energy company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $2.04 billion. Cheniere Energy had a net margin of 27.05% and a return on equity of 39.42%. Equities analysts forecast that Cheniere Energy, Inc. will post 9.74 EPS for the current year.

Cheniere Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a $0.775 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This is a positive change from Cheniere Energy’s previous quarterly dividend of $0.62. This represents a $3.10 annualized dividend and a dividend yield of 1.68%. Cheniere Energy’s dividend payout ratio is presently 8.48%.

Cheniere Energy declared that its Board of Directors has authorized a stock buyback plan on Monday, June 17th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the energy company to purchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.