BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in Cheniere Energy, Inc. (NYSE:LNG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 253,403 shares of the energy company’s stock after selling 5,984 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cheniere Energy were worth $45,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in Cheniere Energy by 1,490.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,957,451 shares of the energy company’s stock worth $342,221,000 after acquiring an additional 1,834,347 shares during the period. Darlington Partners Capital Management LP increased its holdings in shares of Cheniere Energy by 74.6% in the second quarter. Darlington Partners Capital Management LP now owns 1,514,155 shares of the energy company’s stock worth $264,720,000 after purchasing an additional 647,096 shares during the period. The Manufacturers Life Insurance Company raised its position 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 worth $921,503,000 after buying an additional 413,744 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Cheniere Energy by 854.3% in the second quarter. 1832 Asset Management L.P. now owns 458,739 shares of the energy company’s stock worth $80,201,000 after buying an additional 410,668 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in 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 valued at $566,956,000 after buying an additional 273,588 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.

Cheniere Energy Stock Performance

NYSE LNG opened at $224.10 on Friday. The company has a 50-day simple moving average of $195.95 and a two-hundred day simple moving average of $180.84. Cheniere Energy, Inc. has a 12-month low of $152.31 and a 12-month high of $225.44. The firm has a market cap of $50.28 billion, a price-to-earnings ratio of 14.31 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.07 and a debt-to-equity ratio of 2.41.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Thursday, October 31st. The energy company reported $3.93 earnings per share for the quarter, beating the consensus estimate of $1.87 by $2.06. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Cheniere Energy had a return on equity of 41.44% and a net margin of 22.70%. Cheniere Energy’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.37 EPS. On average, equities analysts forecast that Cheniere Energy, Inc. will post 11.26 EPS for the current year.

Cheniere Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, November 8th. Cheniere Energy’s dividend payout ratio is 12.77%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. TD Cowen increased their price target on shares of Cheniere Energy from $202.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group lifted their price objective on shares of Cheniere Energy from $232.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays upped their target price on shares of Cheniere Energy from $199.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Bank of America started coverage on Cheniere Energy in a research report on Thursday, October 17th. They set a “buy” rating and a $215.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.89.

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.