Alliancebernstein L.P. Has $103.74 Million Stake in Cheniere Energy, Inc. $LNG

Key Points

• Alliancebernstein L.P. reduced its stake in Cheniere Energy by 42.8% during the first quarter, now holding $103.74 million worth of the stock.
• Cheniere Energy recently reported earnings of $7.30 per share, significantly exceeding the consensus estimate of $2.35, with revenues up 42.8% year-over-year.
• Multiple analysts have upgraded their price targets for Cheniere Energy, with Bank of America raising its target from $258 to $271 and maintaining a "buy" rating.

Alliancebernstein L.P. trimmed its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 42.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,318 shares of the energy company's stock after selling 334,943 shares during the period. Alliancebernstein L.P. owned 0.20% of Cheniere Energy worth $103,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LNG. Brighton Jones LLC bought a new stake in Cheniere Energy during the fourth quarter worth $335,000. Cary Street Partners Financial LLC acquired a new stake in Cheniere Energy in the fourth quarter valued at $181,000. CoreCap Advisors LLC grew its holdings in Cheniere Energy by 7.0% during the 4th quarter. CoreCap Advisors LLC now owns 3,755 shares of the energy company's stock worth $807,000 after acquiring an additional 246 shares during the period. EP Wealth Advisors LLC acquired a new stake in Cheniere Energy during the 4th quarter worth about $273,000. Finally, Clark Capital Management Group Inc. acquired a new stake in Cheniere Energy during the 4th quarter worth about $291,000. 87.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on LNG. Bank of America increased their price objective on shares of Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a research report on Tuesday, July 15th. Jefferies Financial Group set a $288.00 target price on shares of Cheniere Energy and gave the stock a "buy" rating in a research report on Thursday, June 26th. Mizuho raised their price target on shares of Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, TD Cowen raised their price target on shares of Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $263.29.

Cheniere Energy Stock Performance

Cheniere Energy stock opened at $235.71 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $51.80 billion, a PE ratio of 13.76 and a beta of 0.43. The firm has a fifty day simple moving average of $235.47 and a two-hundred day simple moving average of $230.73. Cheniere Energy, Inc. has a twelve month low of $175.14 and a twelve month high of $257.65.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share for the quarter, topping the consensus estimate of $2.35 by $4.95. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.48 billion. Cheniere Energy had a net margin of 21.05% and a return on equity of 37.83%. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.84 earnings per share. Research analysts expect that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were given a $0.50 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Cheniere Energy's payout ratio is presently 11.68%.

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.

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