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Wealthfront Advisers LLC Raises Holdings in Cheniere Energy, Inc. (NYSEAMERICAN:LNG)

Defense World · Oct 2, 2022 06:51

Wealthfront Advisers LLC boosted its stake in shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG – Get Rating) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,480 shares of the energy company's stock after acquiring an additional 1,631 shares during the quarter. Wealthfront Advisers LLC's holdings in Cheniere Energy were worth $2,458,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LNG. Capital World Investors acquired a new position in shares of Cheniere Energy in the first quarter worth about $391,652,000. Steadfast Capital Management LP acquired a new position in Cheniere Energy in the 1st quarter worth about $325,176,000. JPMorgan Chase & Co. boosted its position in Cheniere Energy by 145.3% during the first quarter. JPMorgan Chase & Co. now owns 3,423,223 shares of the energy company's stock worth $474,631,000 after purchasing an additional 2,027,899 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Cheniere Energy by 238.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 2,113,582 shares of the energy company's stock valued at $293,048,000 after purchasing an additional 1,489,799 shares during the period. Finally, Invesco Ltd. increased its position in shares of Cheniere Energy by 50.9% in the first quarter. Invesco Ltd. now owns 3,151,919 shares of the energy company's stock valued at $437,015,000 after buying an additional 1,063,577 shares in the last quarter. 88.17% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNG. Raymond James increased their target price on Cheniere Energy from $175.00 to $178.00 and gave the company a "strong-buy" rating in a research report on Friday, August 5th. Stifel Nicolaus increased their price objective on shares of Cheniere Energy from $159.00 to $201.00 and gave the company a "buy" rating in a report on Monday, September 19th. Morgan Stanley boosted their target price on shares of Cheniere Energy from $154.00 to $203.00 in a research note on Thursday, September 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Cheniere Energy in a research note on Thursday, September 15th. Finally, Mizuho boosted their price objective on Cheniere Energy from $167.00 to $174.00 and gave the stock a "buy" rating in a research note on Tuesday, September 13th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $179.91.

Insider Buying and Selling at Cheniere Energy

In related news, SVP Aaron D. Stephenson sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $168.21, for a total transaction of $504,630.00. Following the sale, the senior vice president now directly owns 56,016 shares of the company's stock, valued at approximately $9,422,451.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Cheniere Energy Stock Performance

Shares of LNG opened at $165.91 on Friday. Cheniere Energy, Inc. has a 12-month low of $96.27 and a 12-month high of $178.62. The company has a debt-to-equity ratio of 24.30, a quick ratio of 0.93 and a current ratio of 1.08. The stock has a market capitalization of $41.44 billion, a P/E ratio of -17.94 and a beta of 1.26.

Cheniere Energy (NYSEAMERICAN:LNG – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.83 by $0.07. Cheniere Energy had a negative net margin of 14.77% and a positive return on equity of 30.72%. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the business posted ($1.30) EPS. The business's revenue for the quarter was up 165.4% compared to the same quarter last year. On average, analysts forecast that Cheniere Energy, Inc. will post 10.91 earnings per share for the current fiscal year.

Cheniere Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 16th. Investors of record on Tuesday, November 8th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 0.95%. This is a boost from Cheniere Energy's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, November 7th. Cheniere Energy's dividend payout ratio (DPR) is -14.27%.

Cheniere Energy Company Profile

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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 pipeline interconnecting the Sabine Pass LNG terminal with various interstate 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.