Resona Asset Management Co. Ltd. Sells 2,929 Shares of Cheniere Energy, Inc. $LNG
by Jessica Moore · The Cerbat GemResona Asset Management Co. Ltd. decreased its position in shares of Cheniere Energy, Inc. (NYSE:LNG – Free Report) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,136 shares of the energy company’s stock after selling 2,929 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cheniere Energy were worth $12,838,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cheniere Energy during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cheniere Energy during the 3rd quarter worth $27,000. Accordant Advisory Group Inc bought a new position in shares of Cheniere Energy during the 4th quarter worth $29,000. Hazlett Burt & Watson Inc. grew its position in shares of Cheniere Energy by 250.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 140 shares of the energy company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of Cheniere Energy during the 3rd quarter worth $38,000. Institutional investors own 87.26% of the company’s stock.
Insider Activity
In other Cheniere Energy news, EVP Sean N. Markowitz sold 22,246 shares of the firm’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $290.98, for a total value of $6,473,141.08. Following the completion of the sale, the executive vice president owned 64,000 shares of the company’s stock, valued at approximately $18,622,720. This trade represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zach Davis sold 29,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 87,146 shares of the company’s stock, valued at approximately $26,143,800. This represents a 24.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Cheniere Energy from $280.00 to $271.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Barclays raised their price objective on Cheniere Energy from $259.00 to $271.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. dropped their price objective on Cheniere Energy from $338.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. BMO Capital Markets raised their price objective on Cheniere Energy from $265.00 to $306.00 and gave the company an “outperform” rating in a research report on Monday, March 23rd. Finally, Citigroup raised their price objective on Cheniere Energy from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cheniere Energy has an average rating of “Buy” and an average target price of $293.50.
View Our Latest Stock Report on Cheniere Energy
Cheniere Energy Price Performance
Shares of NYSE LNG opened at $243.71 on Thursday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57. The company has a market cap of $51.07 billion, a PE ratio of 40.08 and a beta of 0.07. The business has a 50-day simple moving average of $263.70 and a two-hundred day simple moving average of $228.26. Cheniere Energy, Inc. has a fifty-two week low of $186.20 and a fifty-two week high of $300.89.
Cheniere Energy (NYSE:LNG – Get Free Report) 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). The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.69 billion. Cheniere Energy had a return on equity of 38.95% and a net margin of 7.23%.Cheniere Energy’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 EPS. As a group, equities analysts expect that Cheniere Energy, Inc. will post 15.2 EPS for the current fiscal year.
Cheniere Energy declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 26th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the energy company to repurchase up to 21.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Cheniere Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 11th were issued a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, May 11th. Cheniere Energy’s dividend payout ratio (DPR) is currently 36.51%.
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.
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