NewEdge Wealth LLC Reduces Position in Cheniere Energy, Inc. $LNG

NewEdge Wealth LLC cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 43.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,514 shares of the energy company’s stock after selling 2,733 shares during the quarter. NewEdge Wealth LLC’s holdings in Cheniere Energy were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LNG. Caitong International Asset Management Co. Ltd bought a new position in Cheniere Energy in the third quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cheniere Energy in the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its stake in shares of Cheniere Energy by 250.0% in the third quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company’s stock worth $32,000 after buying an additional 100 shares during the period. Accordant Advisory Group Inc bought a new position in shares of Cheniere Energy in the fourth quarter worth about $29,000. Finally, Rakuten Investment Management Inc. bought a new position in shares of Cheniere Energy in the third quarter worth about $38,000. 87.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Sean N. Markowitz sold 22,246 shares of Cheniere Energy stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total value of $6,473,141.08. Following the completion of the transaction, the executive vice president owned 64,000 shares in the company, valued at approximately $18,622,720. The trade was a 25.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zach Davis sold 29,000 shares of Cheniere Energy stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $300.00, for a total value of $8,700,000.00. Following the completion of the transaction, the chief financial officer owned 87,146 shares of the company’s stock, valued at approximately $26,143,800. This trade represents a 24.97% decrease in their position. The SEC filing for this sale provides additional information. 0.55% of the stock is currently owned by insiders.

Cheniere Energy Stock Up 0.3%

Shares of LNG opened at $241.77 on Friday. The business’s 50 day moving average is $264.03 and its 200 day moving average is $227.50. The company has a market capitalization of $50.66 billion, a PE ratio of 39.76 and a beta of 0.07. Cheniere Energy, Inc. has a 12-month low of $186.20 and a 12-month high of $300.89. The company has a current ratio of 0.57, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55.

Cheniere Energy (NYSE:LNG) last issued its earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.69 billion. During the same period last year, the business posted $1.57 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Cheniere Energy, Inc. will post 15.2 earnings per share for the current fiscal year.

Cheniere Energy declared that its board has initiated a share buyback plan on Thursday, February 26th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the energy company to buy up to 21.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Cheniere Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th will be issued a $0.555 dividend. The ex-dividend date is Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. Cheniere Energy’s payout ratio is 36.51%.

Analyst Ratings Changes

LNG has been the topic of several recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Cheniere Energy in a research note on Wednesday. Barclays raised their price objective on Cheniere Energy from $259.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Bank of America raised their price objective on Cheniere Energy from $296.00 to $322.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. BMO Capital Markets upped their target price on shares of Cheniere Energy from $265.00 to $306.00 and gave the stock an “outperform” rating in a report on Monday, March 23rd. Finally, Jefferies Financial Group increased their price target on Cheniere Energy from $275.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $293.50.

Cheniere Energy Company Profile

Cheniere Energy, Inc is a U.S.-based energy company that develops, owns and operates liquefied natural gas (LNG) infrastructure and markets LNG to global customers. The company’s core activities include natural gas liquefaction, long‑term and short‑term LNG sales and marketing, and the associated midstream services required to move gas from production basins to international markets. Cheniere focuses on converting domestic natural gas into LNG for export, providing a bridge between North American supply and overseas demand.

Cheniere’s principal operating assets are large-scale LNG export terminals located on the U.S.