Cheniere Energy, Inc. $LNG Shares Purchased by iA Global Asset Management Inc.

by · The Markets Daily

iA Global Asset Management Inc. lifted its holdings in Cheniere Energy, Inc. (NYSE:LNGFree Report) by 145.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,725 shares of the energy company’s stock after acquiring an additional 6,353 shares during the period. iA Global Asset Management Inc.’s holdings in Cheniere Energy were worth $2,520,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Cheniere Energy by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,687,388 shares of the energy company’s stock worth $1,141,473,000 after purchasing an additional 26,843 shares during the period. Norges Bank acquired a new position in shares of Cheniere Energy during the second quarter worth about $957,425,000. Geode Capital Management LLC boosted its position 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 buying an additional 70,475 shares during the period. TD Asset Management Inc boosted its position in shares of Cheniere Energy by 1.5% in the second quarter. TD Asset Management Inc now owns 1,990,748 shares of the energy company’s stock worth $484,787,000 after buying an additional 28,742 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Cheniere Energy by 0.5% in 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 in the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Insider Transactions at Cheniere Energy

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

Cheniere Energy Price Performance

LNG opened at $207.35 on Friday. The company has a market capitalization of $44.63 billion, a P/E ratio of 11.55, a PEG ratio of 6.62 and a beta of 0.26. The company has a 50-day moving average of $199.48 and a 200-day moving average of $219.08. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.81 and a current ratio of 0.94. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $246.42.

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

Cheniere Energy Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, November 7th. This represents a $2.22 annualized dividend and a dividend yield of 1.1%. This is an increase from Cheniere Energy’s previous quarterly dividend of $0.50. Cheniere Energy’s dividend payout ratio is currently 12.37%.

Wall Street Analysts Forecast Growth

LNG has been the topic of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and set a $275.00 price target on shares of Cheniere Energy in a research report on Monday, November 3rd. Wolfe Research set a $220.00 target price on shares of Cheniere Energy and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Bank of America lowered their price target on shares of Cheniere Energy from $274.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Jefferies Financial Group set a $290.00 price target on shares of Cheniere Energy in a research note on Thursday, October 30th. Finally, Zacks Research cut shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cheniere Energy currently has a consensus rating of “Moderate Buy” and an average price target of $265.59.

View Our Latest Research Report on LNG

About Cheniere Energy

(Free Report)

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.

Further Reading

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