Covenant Asset Management LLC Has $4.36 Million Stock Position in Cheniere Energy, Inc. (NYSE:LNG)

Covenant Asset Management LLC lowered its stake in Cheniere Energy, Inc. (NYSE:LNG) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,234 shares of the energy company’s stock after selling 165 shares during the quarter. Cheniere Energy comprises approximately 0.7% of Covenant Asset Management LLC’s holdings, making the stock its 27th largest holding. Covenant Asset Management LLC’s holdings in Cheniere Energy were worth $4,358,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LNG. Raymond James Trust N.A. raised its stake in Cheniere Energy by 23.2% during the 3rd quarter. Raymond James Trust N.A. now owns 6,394 shares of the energy company’s stock worth $1,150,000 after buying an additional 1,203 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cheniere Energy by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 940,200 shares of the energy company’s stock worth $169,086,000 after buying an additional 15,675 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Cheniere Energy by 91.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,747,370 shares of the energy company’s stock worth $673,927,000 after buying an additional 1,789,919 shares during the period. Moors & Cabot Inc. raised its stake in Cheniere Energy by 9.1% during the 3rd quarter. Moors & Cabot Inc. now owns 3,389 shares of the energy company’s stock worth $609,000 after buying an additional 284 shares during the period. Finally, Altman Advisors Inc. acquired a new stake in Cheniere Energy during the 3rd quarter worth $1,807,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Price Performance

Shares of NYSE LNG opened at $224.79 on Friday. The stock has a market capitalization of $50.44 billion, a price-to-earnings ratio of 14.35 and a beta of 0.94. The business has a 50-day moving average of $191.05 and a 200-day moving average of $178.13. 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, Inc. has a fifty-two week low of $152.31 and a fifty-two week high of $225.27.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $2.06. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company posted $2.37 earnings per share. Cheniere Energy’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, sell-side analysts predict that Cheniere Energy, Inc. will post 11.26 earnings per share for the current fiscal year.

Cheniere Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Friday, November 8th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, November 8th. Cheniere Energy’s payout ratio is currently 12.77%.

Analysts Set New Price Targets

LNG has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a report on Friday, August 9th. Bank of America initiated coverage on Cheniere Energy in a report on Thursday, October 17th. They set a “buy” rating and a $215.00 target price for the company. TD Cowen increased their target price on Cheniere Energy from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays increased their target price on Cheniere Energy from $199.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their target price on Cheniere Energy from $201.00 to $217.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Cheniere Energy presently has a consensus rating of “Moderate Buy” and an average target price of $208.44.

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.