Prosperity Wealth Management Inc. Raises Holdings in Cheniere Energy, Inc. (NYSE:LNG)

Prosperity Wealth Management Inc. grew its position in Cheniere Energy, Inc. (NYSE:LNG) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,091 shares of the energy company’s stock after buying an additional 245 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Cheniere Energy were worth $484,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WR Wealth Planners LLC lifted its holdings in shares of Cheniere Energy by 373.1% in the 4th quarter. WR Wealth Planners LLC now owns 123 shares of the energy company’s stock worth $26,000 after buying an additional 97 shares during the period. REAP Financial Group LLC lifted its holdings in shares of Cheniere Energy by 150.0% in the 4th quarter. REAP Financial Group LLC now owns 125 shares of the energy company’s stock worth $27,000 after buying an additional 75 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Cheniere Energy in the 4th quarter worth $29,000. Banque Transatlantique SA purchased a new stake in shares of Cheniere Energy in the 4th quarter worth $32,000. Finally, Nemes Rush Group LLC lifted its stake in shares of Cheniere Energy by 2,022.2% during the 4th quarter. Nemes Rush Group LLC now owns 191 shares of the energy company’s stock worth $41,000 after purchasing an additional 182 shares during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Cheniere Energy Trading Up 1.0%

Shares of NYSE:LNG opened at $235.87 on Wednesday. The business’s 50-day moving average is $232.53 and its 200 day moving average is $225.42. Cheniere Energy, Inc. has a 1 year low of $157.25 and a 1 year high of $257.65. The firm has a market capitalization of $52.31 billion, a P/E ratio of 17.25, a P/E/G ratio of 4.87 and a beta of 0.43. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.19 and a quick ratio of 1.06.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Thursday, May 8th. The energy company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($1.24). Cheniere Energy had a net margin of 18.37% and a return on equity of 32.62%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. On average, research analysts predict that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Friday, August 8th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.85%. Cheniere Energy’s dividend payout ratio is currently 14.63%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LNG. JPMorgan Chase & Co. upped their price objective on Cheniere Energy from $252.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Raymond James Financial restated a “strong-buy” rating on shares of Cheniere Energy in a research note on Wednesday, April 23rd. TD Cowen upped their price objective on Cheniere Energy from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Stifel Nicolaus decreased their price objective on Cheniere Energy from $255.00 to $247.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America upped their price objective on Cheniere Energy from $254.00 to $258.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.23.

Insider Activity

In other news, Director Neal A. Shear sold 4,300 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $245.93, for a total value of $1,057,499.00. Following the transaction, the director now directly owns 29,733 shares of the company’s stock, valued at approximately $7,312,236.69. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Cheniere Energy 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.