NewEdge Wealth LLC Sells 2,733 Shares of Cheniere Energy, Inc. $LNG

NewEdge Wealth LLC lessened its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 43.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,514 shares of the energy company’s stock after selling 2,733 shares during the quarter. NewEdge Wealth LLC’s holdings in Cheniere Energy were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LNG. AustralianSuper Pty Ltd bought a new position in shares of Cheniere Energy during the third quarter valued at approximately $142,688,000. Vanguard Group Inc. raised its holdings in shares of Cheniere Energy by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company’s stock valued at $4,124,870,000 after acquiring an additional 414,022 shares in the last quarter. State Street Corp raised its holdings in Cheniere Energy by 6.7% in the third quarter. State Street Corp now owns 6,007,073 shares of the energy company’s stock worth $1,411,542,000 after purchasing an additional 377,369 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Cheniere Energy by 21.5% in the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company’s stock worth $475,633,000 after purchasing an additional 359,123 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Cheniere Energy by 53.7% in the third quarter. Two Sigma Investments LP now owns 816,028 shares of the energy company’s stock worth $191,750,000 after purchasing an additional 285,062 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Insider Buying and Selling at Cheniere Energy

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

Cheniere Energy Price Performance

LNG opened at $241.77 on Friday. Cheniere Energy, Inc. has a 12-month low of $186.20 and a 12-month high of $300.89. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 39.76 and a beta of 0.07. The stock has a fifty day simple moving average of $264.03 and a two-hundred day simple moving average of $227.50. The company has a current ratio of 0.57, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55.

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

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

Cheniere Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.555 per share. The ex-dividend date is Monday, May 11th. This represents a $2.22 annualized dividend and a dividend yield of 0.9%. Cheniere Energy’s dividend payout ratio (DPR) is presently 36.51%.

Analyst Ratings Changes

A number of equities analysts have issued reports on LNG shares. UBS Group set a $290.00 price objective on Cheniere Energy in a report on Wednesday. Scotiabank reiterated an “outperform” rating on shares of Cheniere Energy in a report on Wednesday. BMO Capital Markets increased their price objective on Cheniere Energy from $265.00 to $306.00 and gave the stock an “outperform” rating in a report on Monday, March 23rd. Bank of America increased their price objective 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 increased their price objective 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, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $293.50.

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.