Wealth Effects LLC Grows Stock Holdings in Cheniere Energy, Inc. (NYSE:LNG)

Wealth Effects LLC raised its stake in Cheniere Energy, Inc. (NYSE:LNG) by 68.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,649 shares of the energy company’s stock after buying an additional 1,896 shares during the period. Wealth Effects LLC’s holdings in Cheniere Energy were worth $836,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Cheniere Energy by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,270,853 shares of the energy company’s stock worth $921,503,000 after acquiring an additional 413,744 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in Cheniere Energy by 9.2% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 3,242,899 shares of the energy company’s stock valued at $566,956,000 after purchasing an additional 273,588 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Cheniere Energy by 7.4% in the second quarter. Pacer Advisors Inc. now owns 2,921,837 shares of the energy company’s stock valued at $510,825,000 after buying an additional 202,097 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 worth $360,259,000 after buying an additional 99,678 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 worth $346,268,000 after buying an additional 240,427 shares in the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LNG shares. Stifel Nicolaus dropped their target price on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating for the company in a report on Friday, August 9th. Sanford C. Bernstein began coverage on shares of Cheniere Energy in a research note on Monday, June 24th. They set an “outperform” rating for the company. Bank of America started coverage on Cheniere Energy in a research note on Thursday. They issued a “buy” rating and a $215.00 target price on the stock. Royal Bank of Canada upped their price objective on Cheniere Energy from $201.00 to $217.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their target price on shares of Cheniere Energy from $199.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Cheniere Energy Trading Down 0.6 %

LNG traded down $1.14 during midday trading on Monday, hitting $181.05. The company’s stock had a trading volume of 339,567 shares, compared to its average volume of 1,753,597. Cheniere Energy, Inc. has a 52-week low of $152.31 and a 52-week high of $193.16. The firm has a 50-day moving average price of $183.11 and a two-hundred day moving average price of $171.51. 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 has a market cap of $41.44 billion, a P/E ratio of 8.87 and a beta of 0.94.

Cheniere Energy (NYSE:LNG) last released its earnings results on Thursday, August 8th. The energy company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.12. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $2.04 billion. Cheniere Energy had a net margin of 27.05% and a return on equity of 39.42%. On average, research analysts anticipate that Cheniere Energy, Inc. will post 9.76 earnings per share for the current year.

Cheniere Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, August 7th. This is an increase from Cheniere Energy’s previous quarterly dividend of $0.62. Cheniere Energy’s payout ratio is 8.48%.

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.