Cheniere Energy, Inc. (NYSE:LNG) Sees Large Drop in Short Interest
by Mitch Edgeman · The Markets DailyCheniere Energy, Inc. (NYSE:LNG – Get Free Report) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 3,533,623 shares, a decline of 26.0% from the December 15th total of 4,773,211 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 1,804,369 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 1,804,369 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.6% of the company’s stock are short sold.
Insiders Place Their Bets
In other news, Director W Benjamin Moreland bought 5,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $208.22 per share, for a total transaction of $1,041,100.00. Following the acquisition, the director owned 9,856 shares in the company, valued at approximately $2,052,216.32. This trade represents a 102.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.
Hedge Funds Weigh In On Cheniere Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of LNG. Pinnacle Bancorp Inc. lifted its position in shares of Cheniere Energy by 134.1% in the second quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company’s stock valued at $25,000 after buying an additional 59 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Cheniere Energy during the 3rd quarter valued at $25,000. Westside Investment Management Inc. boosted its position in Cheniere Energy by 473.7% during the second quarter. Westside Investment Management Inc. now owns 109 shares of the energy company’s stock worth $26,000 after purchasing an additional 90 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Cheniere Energy during the third quarter worth $27,000. Finally, Hilltop National Bank acquired a new position in shares of Cheniere Energy in the second quarter valued at $28,000. Institutional investors own 87.26% of the company’s stock.
Analysts Set New Price Targets
LNG has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on Cheniere Energy from $284.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Cheniere Energy in a research note on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $278.00 price target (up from $275.00) on shares of Cheniere Energy in a research note on Friday, October 24th. Scotiabank reiterated an “outperform” rating and issued a $266.00 price objective on shares of Cheniere Energy in a report on Friday. Finally, Jefferies Financial Group set a $290.00 price objective on shares of Cheniere Energy in a research report on Thursday, October 30th. One research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $265.59.
Cheniere Energy Stock Up 1.8%
Shares of Cheniere Energy stock traded up $3.71 on Monday, reaching $206.45. 2,110,151 shares of the company were exchanged, compared to its average volume of 1,569,557. The company has a market capitalization of $44.44 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 6.64 and a beta of 0.26. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.94. Cheniere Energy has a one year low of $186.20 and a one year high of $257.65. The company has a 50-day moving average of $200.09 and a 200 day moving average of $219.85.
Cheniere Energy (NYSE:LNG – Get Free Report) last issued its earnings results on Wednesday, October 29th. The energy company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $2.00. Cheniere Energy had a net margin of 21.12% and a return on equity of 37.52%. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the company earned $3.93 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that Cheniere Energy will post 11.69 earnings per share for the current year.
Cheniere Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Stockholders of record on Friday, November 7th were issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Cheniere Energy’s previous quarterly dividend of $0.50. Cheniere Energy’s payout ratio is currently 12.37%.
Cheniere Energy Company 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.