Employees Retirement System of Texas Sells 3,800 Shares of Cheniere Energy, Inc. $LNG

Employees Retirement System of Texas decreased its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 216,273 shares of the energy company’s stock after selling 3,800 shares during the quarter. Employees Retirement System of Texas’ holdings in Cheniere Energy were worth $42,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LNG. Ameriflex Group Inc. raised its holdings in Cheniere Energy by 7.3% in the 3rd quarter. Ameriflex Group Inc. now owns 688 shares of the energy company’s stock worth $162,000 after purchasing an additional 47 shares during the period. Howard Capital Management Inc. raised its holdings in Cheniere Energy by 3.3% in the 3rd quarter. Howard Capital Management Inc. now owns 1,488 shares of the energy company’s stock worth $350,000 after purchasing an additional 48 shares during the period. Quest Investment Management LLC raised its holdings in Cheniere Energy by 6.1% in the 3rd quarter. Quest Investment Management LLC now owns 875 shares of the energy company’s stock worth $206,000 after purchasing an additional 50 shares during the period. Hardy Reed LLC raised its holdings in Cheniere Energy by 2.3% in the 3rd quarter. Hardy Reed LLC now owns 2,279 shares of the energy company’s stock worth $536,000 after purchasing an additional 52 shares during the period. Finally, Keel Point LLC raised its holdings in Cheniere Energy by 5.2% in the 3rd quarter. Keel Point LLC now owns 1,111 shares of the energy company’s stock worth $261,000 after purchasing an additional 55 shares during the period. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Price Performance

Shares of Cheniere Energy stock opened at $234.54 on Wednesday. The business has a 50 day simple moving average of $262.79 and a two-hundred day simple moving average of $229.12. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89. The stock has a market capitalization of $49.15 billion, a P/E ratio of 38.58 and a beta of 0.07. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48.

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

Cheniere Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were issued a dividend of $0.555 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.9%. Cheniere Energy’s dividend payout ratio is presently 36.51%.

Cheniere Energy announced that its board has initiated a share repurchase plan on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the energy company to purchase up to 21.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LNG shares. Morgan Stanley reduced their price target on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Jefferies Financial Group upped their price target on Cheniere Energy from $275.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. UBS Group set a $290.00 price target on Cheniere Energy in a report on Wednesday, May 13th. Bank of America upped their price target on Cheniere Energy from $296.00 to $322.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Royal Bank Of Canada upped their price target on Cheniere Energy from $286.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $293.50.

Insider Buying and Selling

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

Cheniere Energy 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.