3,764,462 Shares in Cheniere Energy, Inc. $LNG Purchased by Norges Bank

Key Points

• Norges Bank disclosed a new fourth-quarter position in Cheniere Energy, buying 3,764,462 shares valued at about $731.8 million, equal to 1.75% ownership of the company.
• Cheniere also saw ongoing institutional interest, with major holders like Vanguard and State Street increasing stakes; overall, 87.26% of the stock is owned by hedge funds and other institutional investors.
• The company remains active on capital returns and analyst coverage: it authorized a $10 billion share buyback and recently paid a $0.555 quarterly dividend, while Wall Street holds a Buy consensus with a $293.50 average price target.

Norges Bank bought a new position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,764,462 shares of the energy company's stock, valued at approximately $731,774,000. Norges Bank owned 1.75% of Cheniere Energy at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cheniere Energy by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company's stock worth $4,124,870,000 after acquiring an additional 414,022 shares during the last quarter. State Street Corp increased its stake in Cheniere Energy by 6.7% during the third quarter. State Street Corp now owns 6,007,073 shares of the energy company's stock worth $1,411,542,000 after acquiring an additional 377,369 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cheniere Energy by 21.5% during the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company's stock worth $475,633,000 after acquiring an additional 359,123 shares during the last quarter. Two Sigma Investments LP increased its stake in Cheniere Energy by 53.7% during the third quarter. Two Sigma Investments LP now owns 816,028 shares of the energy company's stock worth $191,750,000 after acquiring an additional 285,062 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Cheniere Energy during the third quarter worth about $62,872,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cheniere Energy

In other Cheniere Energy news, CFO Zach Davis sold 29,000 shares of the firm's stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $300.00, for a total transaction of $8,700,000.00. Following the completion of the sale, the chief financial officer owned 87,146 shares in the company, valued at $26,143,800. This trade represents a 24.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean N. Markowitz sold 22,246 shares of the firm's stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $290.98, for a total value of $6,473,141.08. Following 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 position. The SEC filing for this sale provides additional information. 0.55% of the stock is currently owned by company insiders.

Cheniere Energy Price Performance

LNG stock opened at $224.42 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57. Cheniere Energy, Inc. has a 1 year low of $186.20 and a 1 year high of $300.89. The firm has a market cap of $47.03 billion and a P/E ratio of 36.91. The stock has a 50-day simple moving average of $261.11 and a 200-day simple moving average of $229.53.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same quarter last year, the business posted $1.57 EPS. Cheniere Energy's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Cheniere Energy, Inc. will post 15.2 earnings per share for the current fiscal year.

Cheniere Energy announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 26th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the energy company to reacquire up to 21.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Cheniere Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were paid a $0.555 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.0%. Cheniere Energy's dividend payout ratio (DPR) is 36.51%.

Wall Street Analyst Weigh In

Several brokerages have commented on LNG. JPMorgan Chase & Co. dropped their price target on Cheniere Energy from $338.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. BMO Capital Markets upped their price target on Cheniere Energy from $265.00 to $306.00 and gave the stock an "outperform" rating in a research note on Monday, March 23rd. Scotiabank restated an "outperform" rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. UBS Group set a $290.00 price target on Cheniere Energy in a research note on Wednesday, May 13th. Finally, TD Cowen upped their price target on Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $293.50.

About Cheniere Energy

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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