7,767 Shares in Cheniere Energy, Inc. $LNG Bought by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board opened a new position in Cheniere Energy, buying 7,767 shares valued at about $1.51 million in the fourth quarter.
• Cheniere reported mixed quarterly results, with revenue of $5.87 billion beating estimates but earnings per share of ($16.65) missing expectations by a wide margin.
• The company’s board authorized a $10 billion share buyback and it also paid a quarterly dividend of $0.555 per share, while analysts mostly remain positive with an average Buy rating.

North Dakota State Investment Board acquired a new position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,767 shares of the energy company's stock, valued at approximately $1,510,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Viking Fund Management LLC boosted its position in Cheniere Energy by 66.7% during the fourth quarter. Viking Fund Management LLC now owns 45,000 shares of the energy company's stock valued at $8,748,000 after acquiring an additional 18,000 shares during the last quarter. Trivium Point Advisory LLC boosted its position in Cheniere Energy by 38.8% during the fourth quarter. Trivium Point Advisory LLC now owns 56,930 shares of the energy company's stock valued at $11,067,000 after acquiring an additional 15,927 shares during the last quarter. M&G PLC boosted its position in Cheniere Energy by 49.6% during the third quarter. M&G PLC now owns 556,285 shares of the energy company's stock valued at $130,727,000 after acquiring an additional 184,520 shares during the last quarter. Waverton Investment Management Ltd boosted its position in Cheniere Energy by 35.3% during the third quarter. Waverton Investment Management Ltd now owns 196,819 shares of the energy company's stock valued at $46,244,000 after acquiring an additional 51,326 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Cheniere Energy by 12.6% during the third quarter. Allianz Asset Management GmbH now owns 1,460,762 shares of the energy company's stock valued at $343,250,000 after acquiring an additional 163,861 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors.

Cheniere Energy Price Performance

Shares of NYSE LNG opened at $246.82 on Wednesday. The firm's 50-day moving average price is $263.84 and its 200-day moving average price is $228.03. Cheniere Energy, Inc. has a 1-year low of $186.20 and a 1-year high of $300.89. The firm has a market capitalization of $51.72 billion, a P/E ratio of 40.60 and a beta of 0.07. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 2.55.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $5.69 billion. During the same quarter in the prior year, the company posted $1.57 EPS. Cheniere Energy's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Cheniere Energy, Inc. will post 15.2 earnings per share for the current fiscal year.

Cheniere Energy announced that its board has authorized a share buyback program on Thursday, February 26th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the energy company to buy up to 21.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Cheniere Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, May 11th were issued a dividend of $0.555 per share. The ex-dividend date was Monday, May 11th. This represents a $2.22 annualized dividend and a dividend yield of 0.9%. Cheniere Energy's dividend payout ratio is currently 36.51%.

Insider Activity

In other news, CFO Zach Davis sold 29,000 shares of the company's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $300.00, for a total transaction of $8,700,000.00. Following the transaction, the chief financial officer owned 87,146 shares in the company, valued at approximately $26,143,800. This represents a 24.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean N. Markowitz sold 22,246 shares of the company's stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $290.98, for a total transaction of $6,473,141.08. Following the transaction, the executive vice president owned 64,000 shares in the company, valued at $18,622,720. This represents a 25.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on LNG. Royal Bank Of Canada upped their price target on shares of Cheniere Energy from $286.00 to $300.00 and gave the company an "outperform" rating in a research report on Tuesday, April 14th. TD Cowen upped their price target on shares of Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Wells Fargo & Company cut their price target on shares of Cheniere Energy from $280.00 to $271.00 and set an "overweight" rating on the stock in a research report on Friday, March 13th. The Goldman Sachs Group upped their price target on shares of Cheniere Energy from $276.00 to $312.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Finally, Citigroup upped their price target on shares of 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 given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $293.50.

Cheniere Energy Company 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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