Clearbridge Investments LLC Lowers Position in Cheniere Energy, Inc. (NYSE:LNG)

Clearbridge Investments LLC lessened its stake in Cheniere Energy, Inc. (NYSE:LNG) by 46.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 589,418 shares of the energy company’s stock after selling 517,000 shares during the quarter. Clearbridge Investments LLC owned about 0.12% of Cheniere Energy worth $28,946,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Signature Wealth Management Group lifted its stake in shares of Cheniere Energy by 1.4% in the 2nd quarter. Signature Wealth Management Group now owns 4,758 shares of the energy company’s stock valued at $832,000 after purchasing an additional 66 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Cheniere Energy by 57.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 186 shares of the energy company’s stock worth $33,000 after purchasing an additional 68 shares during the period. E&G Advisors LP increased its holdings in Cheniere Energy by 5.2% in the 1st quarter. E&G Advisors LP now owns 1,420 shares of the energy company’s stock valued at $229,000 after purchasing an additional 70 shares in the last quarter. Syon Capital LLC raised its position in Cheniere Energy by 4.7% in the fourth quarter. Syon Capital LLC now owns 1,618 shares of the energy company’s stock valued at $276,000 after purchasing an additional 73 shares during the period. Finally, Accordant Advisory Group Inc lifted its stake in shares of Cheniere Energy by 0.4% during the second quarter. Accordant Advisory Group Inc now owns 19,383 shares of the energy company’s stock worth $3,389,000 after purchasing an additional 76 shares in the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNG. Sanford C. Bernstein initiated coverage on shares of Cheniere Energy in a report on Monday, June 24th. They set an “outperform” rating for the company. Stifel Nicolaus dropped their price objective on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays increased their target price on Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, TD Cowen lifted 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.25.

Cheniere Energy Price Performance

Shares of NYSE:LNG opened at $187.25 on Friday. The firm’s 50 day moving average is $181.22 and its two-hundred day moving average is $169.29. The firm has a market capitalization of $42.86 billion, a P/E ratio of 9.12 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 0.93 and a debt-to-equity ratio of 2.63. Cheniere Energy, Inc. has a 52 week low of $152.31 and a 52 week high of $187.63.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Thursday, August 8th. The energy company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $2.04 billion. Analysts anticipate that Cheniere Energy, Inc. will post 9.74 earnings per share for the current year.

Cheniere Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were issued a $0.775 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $3.10 annualized dividend and a yield of 1.66%. This is an increase from Cheniere Energy’s previous quarterly dividend of $0.62. Cheniere Energy’s dividend payout ratio is presently 8.48%.

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