Terra Nova Asset Management LLC raised its stake in shares of Cheniere Energy, Inc. (NYSEAMERICAN:LNG – Get Rating) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,580 shares of the energy company's stock after purchasing an additional 387 shares during the period. Cheniere Energy accounts for 2.0% of Terra Nova Asset Management LLC's portfolio, making the stock its 16th largest holding. Terra Nova Asset Management LLC's holdings in Cheniere Energy were worth $1,806,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors bought a new position in Cheniere Energy in the first quarter worth $391,652,000. Steadfast Capital Management LP bought a new position in shares of Cheniere Energy during the first quarter valued at $325,176,000. JPMorgan Chase & Co. raised its holdings in shares of Cheniere Energy by 145.3% in the first quarter. JPMorgan Chase & Co. now owns 3,423,223 shares of the energy company's stock valued at $474,631,000 after buying an additional 2,027,899 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of 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 buying an additional 1,489,799 shares during the last quarter. Finally, Invesco Ltd. raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 88.17% of the company's stock.
Get Cheniere Energy alerts:Insider Buying and Selling at Cheniere Energy
In other Cheniere Energy news, SVP Aaron D. Stephenson sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $168.21, for a total value of $504,630.00. Following the sale, the senior vice president now owns 56,016 shares in the company, valued at approximately $9,422,451.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company's stock.
Wall Street Analysts Forecast Growth
LNG has been the subject of a number of research analyst reports. Raymond James lifted their price target on Cheniere Energy from $175.00 to $178.00 and gave the company a "strong-buy" rating in a report on Friday, August 5th. The Goldman Sachs Group restated a "buy" rating on shares of Cheniere Energy in a research report on Thursday, September 15th. Morgan Stanley boosted their target price on Cheniere Energy from $154.00 to $203.00 in a research report on Thursday, September 15th. Royal Bank of Canada boosted their target price on Cheniere Energy from $184.00 to $199.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 14th. Finally, Barclays boosted their target price on Cheniere Energy from $160.00 to $186.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 16th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cheniere Energy currently has an average rating of "Buy" and a consensus price target of $179.91.Cheniere Energy Trading Up 1.0 %
NYSEAMERICAN:LNG opened at $165.91 on Friday. Cheniere Energy, Inc. has a fifty-two week low of $96.27 and a fifty-two week high of $178.62. The company has a current ratio of 1.08, a quick ratio of 0.93 and a debt-to-equity ratio of 24.30. The stock has a market cap of $41.44 billion, a PE ratio of -17.94 and a beta of 1.26.
Cheniere Energy (NYSEAMERICAN:LNG – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The energy company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.07. The business had revenue of $8.01 billion for the quarter, compared to analysts' expectations of $6.42 billion. Cheniere Energy had a positive return on equity of 30.72% and a negative net margin of 14.77%. Cheniere Energy's revenue for the quarter was up 165.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.30) EPS. As a group, sell-side analysts anticipate that Cheniere Energy, Inc. will post 10.91 EPS for the current year.
Cheniere Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 16th. Shareholders of record on Tuesday, November 8th will be paid a $0.395 dividend. This is a boost from Cheniere Energy's previous quarterly dividend of $0.33. The ex-dividend date is Monday, November 7th. This represents a $1.58 annualized dividend and a yield of 0.95%. Cheniere Energy's payout ratio is presently -14.27%.
About Cheniere Energy
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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.
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