Allstate Corp Purchases 9,012 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Allstate Corp increased its stake in Cheniere Energy by 114.5% in the fourth quarter, buying 9,012 additional shares and bringing its total holding to 16,883 shares valued at about $3.28 million.
• Cheniere Energy reported a major earnings miss in its latest quarter, posting EPS of ($16.65) versus expectations of $4.25, even though revenue of $5.87 billion came in above estimates and rose 7.8% year over year.
• The company remains supported by institutional ownership and shareholder returns, with 87.26% of shares held by institutions, a quarterly dividend of $0.555 per share, and a newly authorized $10 billion share buyback plan.

Allstate Corp boosted its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 114.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,883 shares of the energy company's stock after acquiring an additional 9,012 shares during the period. Allstate Corp's holdings in Cheniere Energy were worth $3,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new stake in shares of Cheniere Energy in the 3rd quarter valued at approximately $142,688,000. Vanguard Group Inc. grew its stake in shares of Cheniere Energy by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company's stock valued at $4,124,870,000 after purchasing an additional 414,022 shares during the period. State Street Corp grew its stake in shares of Cheniere Energy by 6.7% in the 3rd quarter. State Street Corp now owns 6,007,073 shares of the energy company's stock valued at $1,411,542,000 after purchasing an additional 377,369 shares during the period. Victory Capital Management Inc. grew its stake in shares of Cheniere Energy by 21.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company's stock valued at $475,633,000 after purchasing an additional 359,123 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Cheniere Energy by 53.7% in the 3rd quarter. Two Sigma Investments LP now owns 816,028 shares of the energy company's stock valued at $191,750,000 after purchasing an additional 285,062 shares during the period. 87.26% of the stock is currently owned by institutional investors.

Cheniere Energy Stock Down 1.3%

NYSE:LNG opened at $230.96 on Thursday. The stock's fifty day moving average price is $262.38 and its two-hundred day moving average price is $229.28. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.48 and a current ratio of 0.57. The company has a market cap of $48.40 billion, a price-to-earnings ratio of 37.99 and a beta of 0.07.

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

Cheniere Energy Announces Dividend

The business also recently declared 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 of this dividend 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 is 36.51%.

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

Analyst Ratings Changes

A number of research firms recently commented on LNG. Royal Bank Of Canada increased their price target on Cheniere Energy from $286.00 to $300.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. UBS Group set a $290.00 price target on Cheniere Energy in a research report on Wednesday, May 13th. Bank of America increased their price target on Cheniere Energy from $296.00 to $322.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Wells Fargo & Company decreased their price target on Cheniere Energy from $280.00 to $271.00 and set an "overweight" rating on the stock in a research report on Friday, March 13th. Finally, Zacks Research upgraded Cheniere Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cheniere Energy currently has an average rating of "Buy" and a consensus price target of $293.50.

Insiders Place Their Bets

In other news, CFO Zach Davis sold 29,000 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $300.00, for a total value of $8,700,000.00. Following the transaction, the chief financial officer owned 87,146 shares of the company's stock, valued at $26,143,800. This represents a 24.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sean N. Markowitz sold 22,246 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 64,000 shares in the company, 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. Corporate insiders own 0.55% of the company's stock.

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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