MinichMacGregor Wealth Management LLC Buys 41,808 Shares of Cheniere Energy, Inc. $LNG

MinichMacGregor Wealth Management LLC purchased a new position in Cheniere Energy, Inc. (NYSE:LNG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,808 shares of the energy company’s stock, valued at approximately $11,248,000. Cheniere Energy makes up approximately 1.9% of MinichMacGregor Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. bought a new stake in shares of Cheniere Energy in the 3rd quarter worth about $620,000. B. Riley Wealth Advisors Inc. raised its holdings in Cheniere Energy by 1.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,646 shares of the energy company’s stock valued at $981,000 after buying an additional 61 shares during the period. Krilogy Financial LLC increased its position in Cheniere Energy by 158.4% during the third quarter. Krilogy Financial LLC now owns 3,005 shares of the energy company’s stock valued at $849,000 after acquiring an additional 1,842 shares during the last quarter. Courier Capital LLC lifted its holdings in shares of Cheniere Energy by 99.7% in the 3rd quarter. Courier Capital LLC now owns 20,506 shares of the energy company’s stock worth $5,517,000 after acquiring an additional 10,239 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC bought a new stake in Cheniere Energy in the third quarter worth about $222,000. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LNG shares. Argus set a $330.00 price objective on Cheniere Energy in a report on Tuesday, August 18th. TD Cowen upped their target price on Cheniere Energy from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Cheniere Energy in a research report on Friday, August 7th. Weiss Ratings raised shares of Cheniere Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Cheniere Energy from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $306.47.

Cheniere Energy Price Performance

Shares of LNG stock traded down $5.72 during mid-day trading on Wednesday, hitting $281.20. 416,664 shares of the stock were exchanged, compared to its average volume of 2,312,632. The company has a market cap of $58.08 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.06. The firm has a fifty day moving average of $275.39 and a 200 day moving average of $260.90. The company has a quick ratio of 0.72, a current ratio of 0.87 and a debt-to-equity ratio of 1.97. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89.

Cheniere Energy (NYSE:LNG) last released its quarterly earnings results on Thursday, August 6th. The energy company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.11 by ($0.09). Cheniere Energy had a return on equity of 29.80% and a net margin of 13.57%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the company earned $7.30 EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. Research analysts anticipate that Cheniere Energy, Inc. will post 16.76 earnings per share for the current year.

Cheniere Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Monday, August 10th were issued a $0.5550 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 0.8%. Cheniere Energy’s dividend payout ratio is currently 16.53%.

Cheniere Energy Company Profile

Cheniere Energy, Inc is a Houston-based energy company focused on the production, liquefaction and export of liquefied natural gas (LNG). Through its subsidiaries, the company purchases natural gas, processes it into LNG and sells it to customers under long-term agreements and in the global LNG market. Its operations also include LNG-related infrastructure, marketing and transportation activities.

Cheniere’s principal assets include the Sabine Pass LNG facility in Louisiana and the Corpus Christi LNG facility in Texas.