Quest Partners LLC Lowers Stock Holdings in Cheniere Energy, Inc. (NYSE:LNG)

Quest Partners LLC cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 30.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,762 shares of the energy company’s stock after selling 3,470 shares during the quarter. Quest Partners LLC’s holdings in Cheniere Energy were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Cheniere Energy during the 4th quarter worth about $308,910,000. TD Asset Management Inc increased its position in Cheniere Energy by 231.8% during the first quarter. TD Asset Management Inc now owns 1,338,752 shares of the energy company’s stock worth $215,914,000 after purchasing an additional 935,239 shares during the last quarter. Zimmer Partners LP raised its stake in Cheniere Energy by 61.4% during the first quarter. Zimmer Partners LP now owns 1,222,723 shares of the energy company’s stock worth $197,201,000 after purchasing an additional 465,000 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Cheniere Energy in the 1st quarter valued at $70,682,000. Finally, BROOKFIELD Corp ON grew its stake in shares of Cheniere Energy by 30.4% during the 1st quarter. BROOKFIELD Corp ON now owns 1,593,308 shares of the energy company’s stock valued at $256,969,000 after buying an additional 371,061 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.

Cheniere Energy Price Performance

Shares of LNG stock opened at $178.49 on Tuesday. The firm has a fifty day simple moving average of $179.97 and a 200-day simple moving average of $166.31. The company has a market capitalization of $40.39 billion, a PE ratio of 8.69 and a beta of 0.95. Cheniere Energy, Inc. has a twelve month low of $152.31 and a twelve month high of $187.44. 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 (NYSE:LNG) last announced its earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $1.71 by $2.13. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the firm earned $5.61 earnings per share. The company’s revenue was down 19.6% on a year-over-year basis. Equities research analysts anticipate that Cheniere Energy, Inc. will post 9.74 earnings per share for the current fiscal year.

Cheniere Energy declared that its Board of Directors has approved a stock 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 reacquire up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, August 9th. Cheniere Energy’s payout ratio is 8.48%.

Analyst Ratings Changes

LNG has been the subject of a number of research reports. TD Cowen boosted their price target on Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Barclays increased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Cheniere Energy from $213.00 to $214.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Stifel Nicolaus dropped their price objective on shares of 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 shares of Cheniere Energy in a research note on Monday, June 24th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.00.

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.