QRG Capital Management Inc. Sells 24,439 Shares of Cheniere Energy, Inc. $LNG

QRG Capital Management Inc. decreased its position in shares of Cheniere Energy, Inc. (NYSE:LNG) by 62.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,001 shares of the energy company’s stock after selling 24,439 shares during the period. QRG Capital Management Inc.’s holdings in Cheniere Energy were worth $3,525,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in Cheniere Energy by 0.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,687,388 shares of the energy company’s stock valued at $1,141,473,000 after acquiring an additional 26,843 shares in the last quarter. Norges Bank purchased a new position in shares of Cheniere Energy in the second quarter worth $957,425,000. Geode Capital Management LLC raised its stake in shares of Cheniere Energy by 1.9% in the second quarter. Geode Capital Management LLC now owns 3,874,796 shares of the energy company’s stock worth $940,578,000 after purchasing an additional 70,475 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Cheniere Energy by 1.5% during the second quarter. TD Asset Management Inc now owns 1,990,748 shares of the energy company’s stock valued at $484,787,000 after purchasing an additional 28,742 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Cheniere Energy by 0.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,845,285 shares of the energy company’s stock valued at $449,364,000 after buying an additional 8,740 shares during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LNG shares. Scotiabank reiterated an “outperform” rating and issued a $266.00 price objective on shares of Cheniere Energy in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $254.00 price target on shares of Cheniere Energy in a report on Wednesday, December 17th. Barclays decreased their price objective on shares of Cheniere Energy from $262.00 to $259.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group set a $290.00 price objective on shares of Cheniere Energy in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $275.00 target price on shares of Cheniere Energy in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued 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 “Moderate Buy” and an average target price of $265.59.

Insider Transactions at Cheniere Energy

In related news, Director W Benjamin Moreland purchased 5,000 shares of Cheniere Energy stock in a transaction on Tuesday, November 4th. The stock was acquired at an average price of $208.22 per share, for a total transaction of $1,041,100.00. Following the completion of the transaction, the director directly owned 9,856 shares in the company, valued at $2,052,216.32. This represents a 102.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Cheniere Energy Price Performance

Shares of NYSE:LNG opened at $206.45 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $44.44 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 6.64 and a beta of 0.26. The firm’s 50 day moving average price is $200.19 and its 200-day moving average price is $220.08. Cheniere Energy, Inc. has a twelve month low of $186.20 and a twelve month high of $257.65.

Cheniere Energy (NYSE:LNG) last announced its earnings results on Wednesday, October 29th. The energy company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $2.00. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Cheniere Energy had a net margin of 21.12% and a return on equity of 37.52%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.93 earnings per share. Equities research analysts expect that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Friday, November 7th were given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.1%. This is a boost from Cheniere Energy’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, November 7th. Cheniere Energy’s dividend payout ratio (DPR) is presently 12.37%.

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.