Argent Trust Co Sells 111 Shares of Cheniere Energy, Inc. (NYSE:LNG)

Argent Trust Co lessened its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,803 shares of the energy company’s stock after selling 111 shares during the period. Argent Trust Co’s holdings in Cheniere Energy were worth $1,364,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Cheniere Energy by 6.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,901 shares of the energy company’s stock valued at $9,022,000 after purchasing an additional 3,270 shares in the last quarter. Abbot Financial Management Inc. lifted its holdings in shares of Cheniere Energy by 5.3% during the 2nd quarter. Abbot Financial Management Inc. now owns 2,937 shares of the energy company’s stock valued at $513,000 after purchasing an additional 148 shares in the last quarter. Denali Advisors LLC lifted its holdings in shares of Cheniere Energy by 56.3% during the 2nd quarter. Denali Advisors LLC now owns 5,000 shares of the energy company’s stock valued at $874,000 after purchasing an additional 1,800 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of Cheniere Energy during the 2nd quarter valued at about $204,000. Finally, Moors & Cabot Inc. lifted its holdings in shares of Cheniere Energy by 4.7% during the 2nd quarter. Moors & Cabot Inc. now owns 3,105 shares of the energy company’s stock valued at $543,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Cheniere Energy Trading Down 0.4 %

NYSE LNG opened at $180.10 on Thursday. The stock has a market capitalization of $41.23 billion, a price-to-earnings ratio of 8.77 and a beta of 0.95. Cheniere Energy, Inc. has a 52 week low of $152.31 and a 52 week high of $187.44. The stock’s 50 day moving average price is $180.58 and its two-hundred day moving average price is $167.41. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.93 and a current ratio of 1.02.

Cheniere Energy (NYSE:LNG) last posted its quarterly earnings results on Thursday, August 8th. The energy company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $2.13. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.52 billion. Cheniere Energy had a return on equity of 39.42% and a net margin of 27.05%. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.61 EPS. As a group, analysts anticipate that Cheniere Energy, Inc. will post 9.74 earnings per share for the current fiscal year.

Cheniere Energy declared that its board has authorized a stock buyback program on Monday, June 17th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Cheniere Energy from $178.00 to $185.00 and gave the company a “buy” rating in a report on Monday, June 17th. Sanford C. Bernstein began coverage on Cheniere Energy in a research note on Monday, June 24th. They issued an “outperform” rating on the stock. Barclays boosted their target price on Cheniere Energy from $194.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus cut their target price on Cheniere Energy from $208.00 to $204.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.25.

Cheniere Energy Profile

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.