Bank of Montreal Can Trims Stake in Cheniere Energy, Inc. (NYSE:LNG)

Bank of Montreal Can lessened its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 74.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 244,290 shares of the energy company’s stock after selling 701,300 shares during the quarter. Bank of Montreal Can’s holdings in Cheniere Energy were worth $42,746,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LNG. Crewe Advisors LLC acquired a new stake in shares of Cheniere Energy in the first quarter valued at approximately $26,000. MCF Advisors LLC purchased a new stake in Cheniere Energy in the 2nd quarter valued at $26,000. Lynx Investment Advisory purchased a new stake in Cheniere Energy in the 2nd quarter valued at $27,000. Carolinas Wealth Consulting LLC boosted its stake in Cheniere Energy by 5,000.0% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 153 shares of the energy company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Finally, Cooksen Wealth LLC purchased a new position in Cheniere Energy during the 4th quarter worth $28,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Trading Down 0.9 %

NYSE:LNG opened at $178.19 on Friday. Cheniere Energy, Inc. has a 52-week low of $152.31 and a 52-week high of $187.44. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 2.63. The stock has a fifty day simple moving average of $180.86 and a 200-day simple moving average of $168.36. The company has a market capitalization of $40.32 billion, a PE ratio of 8.68 and a beta of 0.95.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $2.13. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Cheniere Energy had a net margin of 27.05% and a return on equity of 39.42%. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.61 earnings per share. On average, equities research analysts expect that Cheniere Energy, Inc. will post 9.74 earnings per share for the current fiscal year.

Cheniere Energy announced that its Board of Directors has approved a share repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on LNG shares. Barclays upped their price objective on Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. TD Cowen increased their price target on Cheniere Energy from $178.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Stifel Nicolaus dropped their price objective on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a research note on Monday, June 24th. They issued an “outperform” rating for the company. Two equities 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.com, Cheniere Energy currently has an average rating of “Moderate Buy” and an average price target of $196.25.

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.