Elo Mutual Pension Insurance Co Reduces Stake in Cheniere Energy, Inc. (NYSE:LNG)

Elo Mutual Pension Insurance Co reduced its stake in shares of Cheniere Energy, Inc. (NYSE:LNG) by 19.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,409 shares of the energy company’s stock after selling 4,992 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Cheniere Energy were worth $3,568,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LNG. Massachusetts Financial Services Co. MA raised its stake in shares of Cheniere Energy by 1,490.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,957,451 shares of the energy company’s stock valued at $342,221,000 after buying an additional 1,834,347 shares during the period. TD Asset Management Inc raised its stake in Cheniere Energy by 231.8% in the 1st quarter. TD Asset Management Inc now owns 1,338,752 shares of the energy company’s stock valued at $215,914,000 after acquiring an additional 935,239 shares during the period. Zimmer Partners LP lifted its holdings in Cheniere Energy by 61.4% during the first quarter. Zimmer Partners LP now owns 1,222,723 shares of the energy company’s stock valued at $197,201,000 after purchasing an additional 465,000 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Cheniere Energy during the first quarter worth about $70,682,000. Finally, BROOKFIELD Corp ON increased its stake in shares of Cheniere Energy by 30.4% in the first quarter. BROOKFIELD Corp ON now owns 1,593,308 shares of the energy company’s stock worth $256,969,000 after purchasing an additional 371,061 shares in the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Cheniere Energy Price Performance

NYSE:LNG opened at $180.10 on Thursday. Cheniere Energy, Inc. has a 52-week low of $152.31 and a 52-week high of $187.44. The stock has a fifty day moving average of $180.58 and a 200 day moving average of $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. The firm has a market capitalization of $41.23 billion, a price-to-earnings ratio of 8.77 and a beta of 0.95.

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

Cheniere Energy declared that its board has approved a share buyback program on Monday, June 17th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the energy company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cheniere Energy Company 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.