Summit Financial LLC Raises Stock Holdings in Cheniere Energy, Inc. (NYSE:LNG)

Summit Financial LLC grew its position in Cheniere Energy, Inc. (NYSE:LNG) by 108.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,463 shares of the energy company’s stock after purchasing an additional 6,489 shares during the period. Summit Financial LLC’s holdings in Cheniere Energy were worth $2,678,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Cheniere Energy in the 4th quarter worth approximately $629,197,000. Wellington Management Group LLP increased its stake in shares of Cheniere Energy by 195.1% in the third quarter. Wellington Management Group LLP now owns 4,200,456 shares of the energy company’s stock worth $755,410,000 after acquiring an additional 2,776,920 shares during the period. Ninety One UK Ltd raised its holdings in shares of Cheniere Energy by 1,400.7% during the fourth quarter. Ninety One UK Ltd now owns 1,509,717 shares of the energy company’s stock worth $324,393,000 after purchasing an additional 1,409,116 shares during the last quarter. Two Sigma Advisers LP lifted its position in Cheniere Energy by 328.2% during the third quarter. Two Sigma Advisers LP now owns 894,600 shares of the energy company’s stock valued at $160,885,000 after purchasing an additional 685,662 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Cheniere Energy by 61.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,664,439 shares of the energy company’s stock valued at $357,638,000 after purchasing an additional 631,787 shares during the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LNG has been the subject of several analyst reports. Barclays boosted their price objective on Cheniere Energy from $202.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com raised Cheniere Energy from a “hold” rating to a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price objective on shares of Cheniere Energy from $234.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. TD Cowen boosted their target price on shares of Cheniere Energy from $242.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Morgan Stanley raised their price target on shares of Cheniere Energy from $195.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $239.79.

Cheniere Energy Price Performance

NYSE:LNG opened at $231.41 on Tuesday. The stock has a 50 day moving average of $223.12 and a two-hundred day moving average of $211.32. Cheniere Energy, Inc. has a 12 month low of $152.88 and a 12 month high of $257.65. The firm has a market cap of $51.76 billion, a P/E ratio of 16.26 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 0.98 and a debt-to-equity ratio of 2.41.

Cheniere Energy (NYSE:LNG) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $4.33 EPS for the quarter, topping the consensus estimate of $2.74 by $1.59. The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Cheniere Energy had a return on equity of 37.19% and a net margin of 20.71%. On average, analysts expect that Cheniere Energy, Inc. will post 11.69 earnings per share for the current fiscal year.

Cheniere Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, February 7th. Cheniere Energy’s dividend payout ratio is currently 14.05%.

Insider Buying and Selling

In other news, Director G Andrea Botta sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $219.51, for a total value of $1,975,590.00. Following the completion of the sale, the director now directly owns 33,934 shares in the company, valued at $7,448,852.34. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

About Cheniere Energy

Cheniere Energy, Inc, an energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States. It owns and operates the Sabine Pass LNG terminal in Cameron Parish, Louisiana; and the Corpus Christi LNG terminal near Corpus Christi, Texas. The company also owns Creole Trail pipeline, a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several interstate and intrastate pipelines; and operates Corpus Christi pipeline, a 21.5-mile natural gas supply pipeline that interconnects the Corpus Christi LNG terminal with various interstate and intrastate natural gas pipelines.