PNC Financial Services Group Inc. decreased its position in Cheniere Energy, Inc. (NYSE:LNG – Free Report) by 4.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,685 shares of the energy company’s stock after selling 587 shares during the period. PNC Financial Services Group Inc.’s holdings in Cheniere Energy were worth $2,461,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Cheniere Energy by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 5,270,853 shares of the energy company’s stock valued at $921,503,000 after purchasing an additional 413,744 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Cheniere Energy by 9.2% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 3,242,899 shares of the energy company’s stock worth $566,956,000 after acquiring an additional 273,588 shares in the last quarter. Pacer Advisors Inc. boosted its position in Cheniere Energy by 7.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,921,837 shares of the energy company’s stock worth $510,825,000 after acquiring an additional 202,097 shares during the period. Canada Pension Plan Investment Board grew its stake in Cheniere Energy by 5.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,060,622 shares of the energy company’s stock valued at $360,259,000 after acquiring an additional 99,678 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cheniere Energy by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,980,767 shares of the energy company’s stock valued at $346,268,000 after purchasing an additional 240,427 shares during the period. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Bank of America initiated coverage on shares of Cheniere Energy in a report on Thursday, October 17th. They set a “buy” rating and a $215.00 price target for the company. UBS Group boosted their price target on shares of Cheniere Energy from $232.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. Stifel Nicolaus cut their price objective on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a report on Friday, August 9th. TD Cowen lifted their price objective on Cheniere Energy from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays upped their target price on Cheniere Energy from $199.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.44.
Cheniere Energy Price Performance
Shares of NYSE:LNG opened at $218.10 on Tuesday. The stock has a market capitalization of $48.94 billion, a P/E ratio of 13.93 and a beta of 0.94. The business has a 50-day moving average of $192.63 and a two-hundred day moving average of $179.32. Cheniere Energy, Inc. has a fifty-two week low of $152.31 and a fifty-two week high of $225.44. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.07 and a quick ratio of 0.98.
Cheniere Energy (NYSE:LNG – Get Free Report) last posted its earnings results on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $2.06. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company earned $2.37 EPS. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, equities research analysts predict that Cheniere Energy, Inc. will post 11.26 EPS for the current fiscal year.
Cheniere Energy Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. Cheniere Energy’s payout ratio is presently 12.77%.
Cheniere Energy Company 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.
Recommended Stories
- Five stocks we like better than Cheniere Energy
- Where Do I Find 52-Week Highs and Lows?
- Abacus Life’s CEO on Cracking the Code of Longevity Returns
- What is the Hang Seng index?
- Elon Musk and Trump Push for Self-Driving Cars: 3 Stocks to Gain
- What is Short Interest? How to Use It
- Discover the 3 Best Performing Stocks That Went Public in 2024
Want to see what other hedge funds are holding LNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cheniere Energy, Inc. (NYSE:LNG – Free Report).
Receive News & Ratings for Cheniere Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cheniere Energy and related companies with MarketBeat.com's FREE daily email newsletter.