Legal & General Group Plc Has $303.35 Million Stake in Cheniere Energy, Inc. $LNG

Legal & General Group Plc decreased its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,560,507 shares of the energy company’s stock after selling 41,448 shares during the period. Legal & General Group Plc’s holdings in Cheniere Energy were worth $303,345,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Ameriflex Group Inc. boosted its stake in Cheniere Energy by 7.3% during the 3rd quarter. Ameriflex Group Inc. now owns 688 shares of the energy company’s stock valued at $162,000 after purchasing an additional 47 shares during the period. Howard Capital Management Inc. boosted its stake in Cheniere Energy by 3.3% during the 3rd quarter. Howard Capital Management Inc. now owns 1,488 shares of the energy company’s stock valued at $350,000 after purchasing an additional 48 shares during the period. Quest Investment Management LLC boosted its stake in Cheniere Energy by 6.1% during the 3rd quarter. Quest Investment Management LLC now owns 875 shares of the energy company’s stock valued at $206,000 after purchasing an additional 50 shares during the period. Hardy Reed LLC boosted its stake in Cheniere Energy by 2.3% during the 3rd quarter. Hardy Reed LLC now owns 2,279 shares of the energy company’s stock valued at $536,000 after purchasing an additional 52 shares during the period. Finally, Keel Point LLC boosted its stake in Cheniere Energy by 5.2% during the 3rd quarter. Keel Point LLC now owns 1,111 shares of the energy company’s stock valued at $261,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 87.26% of the company’s stock.

Cheniere Energy Price Performance

Cheniere Energy stock opened at $234.54 on Wednesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48. The company has a market capitalization of $49.15 billion, a PE ratio of 38.58 and a beta of 0.07. Cheniere Energy, Inc. has a one year low of $186.20 and a one year high of $300.89. The business has a 50 day simple moving average of $262.79 and a 200 day simple moving average of $229.12.

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

Cheniere Energy Dividend Announcement

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

Cheniere Energy declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the energy company to buy up to 21.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on LNG shares. UBS Group set a $290.00 target price on Cheniere Energy in a research note on Wednesday, May 13th. Benchmark restated an “outperform” rating on shares of Cheniere Energy in a research note on Tuesday. Scotiabank restated an “outperform” rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. Morgan Stanley decreased their target price on Cheniere Energy from $313.00 to $308.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, Barclays increased their target price on Cheniere Energy from $259.00 to $271.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cheniere Energy currently has an average rating of “Buy” and a consensus target price of $293.50.

Insider Activity at Cheniere Energy

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

About Cheniere Energy

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.