AGF Management Ltd. Has $85.92 Million Stake in Cheniere Energy, Inc. (NYSE:LNG)

AGF Management Ltd. reduced its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 62.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 491,470 shares of the energy company’s stock after selling 820,894 shares during the quarter. AGF Management Ltd. owned approximately 0.21% of Cheniere Energy worth $85,924,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LNG. Vanguard Group Inc. lifted its position in Cheniere Energy by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 22,529,191 shares of the energy company’s stock worth $3,845,958,000 after buying an additional 151,311 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Cheniere Energy by 9.2% during the second 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. Canada Pension Plan Investment Board boosted its position in Cheniere Energy by 10.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,960,944 shares of the energy company’s stock valued at $316,261,000 after purchasing an additional 192,934 shares during the last quarter. Norges Bank purchased a new position in Cheniere Energy in the fourth quarter valued at about $308,910,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Cheniere Energy by 12.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,601,172 shares of the energy company’s stock worth $255,372,000 after purchasing an additional 181,886 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LNG. JPMorgan Chase & Co. lifted their price target on Cheniere Energy from $213.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Barclays lifted their target price on shares of Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Stifel Nicolaus dropped their price target 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. TD Cowen lifted their price objective on shares of Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Sanford C. Bernstein assumed coverage on shares of Cheniere Energy in a research report on Monday, June 24th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cheniere Energy currently has a consensus rating of “Moderate Buy” and an average target price of $196.00.

Cheniere Energy Stock Performance

NYSE:LNG opened at $177.62 on Wednesday. The firm has a market capitalization of $40.66 billion, a PE ratio of 8.65 and a beta of 0.95. Cheniere Energy, Inc. has a 1 year low of $152.31 and a 1 year 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. The firm’s fifty day simple moving average is $180.03 and its 200 day simple moving average is $166.45.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business posted $5.61 earnings per share. The firm’s revenue was down 19.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cheniere Energy, Inc. will post 9.74 EPS for the current year.

Cheniere Energy Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, August 9th. Cheniere Energy’s dividend payout ratio is currently 8.48%.

Cheniere Energy announced that its Board of Directors has initiated a stock repurchase program on Monday, June 17th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 9.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.