1832 Asset Management L.P. Purchases 13,500 Shares of Cheniere Energy, Inc. (NYSE:LNG)

1832 Asset Management L.P. raised its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 39.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,071 shares of the energy company’s stock after acquiring an additional 13,500 shares during the quarter. 1832 Asset Management L.P.’s holdings in Cheniere Energy were worth $7,753,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LNG. Xcel Wealth Management LLC lifted its holdings in shares of Cheniere Energy by 3.4% during the fourth quarter. Xcel Wealth Management LLC now owns 1,961 shares of the energy company’s stock valued at $335,000 after purchasing an additional 65 shares during the last quarter. Keene & Associates Inc. lifted its holdings in shares of Cheniere Energy by 3.8% during the first quarter. Keene & Associates Inc. now owns 1,798 shares of the energy company’s stock valued at $290,000 after purchasing an additional 65 shares during the last quarter. E&G Advisors LP lifted its holdings in shares of Cheniere Energy by 5.2% during the first 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 during the last quarter. Syon Capital LLC lifted its holdings in shares of Cheniere Energy by 4.7% during 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 last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Cheniere Energy by 13.1% during the fourth quarter. Montag A & Associates Inc. now owns 654 shares of the energy company’s stock valued at $112,000 after purchasing an additional 76 shares during the last quarter. 87.26% of the stock is owned by institutional investors.

Cheniere Energy Stock Performance

Shares of NYSE LNG traded up $0.37 during midday trading on Friday, hitting $176.72. 1,231,889 shares of the stock traded hands, compared to its average volume of 1,744,256. The stock has a 50-day moving average price of $167.23. The stock has a market capitalization of $40.45 billion, a price-to-earnings ratio of 8.61 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 2.58. Cheniere Energy, Inc. has a one year low of $152.31 and a one year high of $184.62.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings results on Friday, May 3rd. The energy company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.97 billion. Cheniere Energy had a net margin of 28.55% and a return on equity of 48.19%. Cheniere Energy’s quarterly revenue was down 41.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.89 earnings per share. Equities analysts forecast that Cheniere Energy, Inc. will post 8.29 earnings per share for the current fiscal year.

Cheniere Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be paid a $0.435 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.74 annualized dividend and a dividend yield of 0.98%. Cheniere Energy’s dividend payout ratio (DPR) is 8.48%.

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

Analyst Upgrades and Downgrades

LNG has been the subject of several recent research reports. UBS Group lowered their target price on shares of Cheniere Energy from $223.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Sanford C. Bernstein initiated coverage on shares of Cheniere Energy in a report on Monday, June 24th. They issued an “outperform” rating for the company. StockNews.com lowered shares of Cheniere Energy from a “buy” rating to a “hold” rating in a report on Monday, April 8th. TD Cowen boosted their price objective on shares of Cheniere Energy from $178.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Cheniere Energy from $204.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Cheniere Energy has a consensus rating of “Moderate Buy” and a consensus price target of $199.09.

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.