Bank of New York Mellon Corp Sells 82,025 Shares of Cheniere Energy, Inc. $LNG

Key Points

• Bank of New York Mellon cut its Cheniere Energy stake by 9.1% in the fourth quarter, selling 82,025 shares and leaving it with 818,210 shares valued at about $159.1 million.
• Cheniere reported a large earnings miss for the quarter, posting EPS of -$16.65 versus expectations of $4.25, even as revenue came in slightly above estimates at $5.87 billion.
• The company has an active $10 billion share buyback program and recently paid a quarterly dividend of $0.555 per share, while analysts currently rate the stock a consensus Buy with a $298.63 price target.

Bank of New York Mellon Corp lowered its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 818,210 shares of the energy company's stock after selling 82,025 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Cheniere Energy worth $159,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. boosted its stake in shares of Cheniere Energy by 7.3% during the 3rd quarter. Ameriflex Group Inc. now owns 688 shares of the energy company's stock worth $162,000 after acquiring an additional 47 shares during the last quarter. Quest Investment Management LLC lifted its stake in shares of Cheniere Energy by 6.1% during the 3rd quarter. Quest Investment Management LLC now owns 875 shares of the energy company's stock valued at $206,000 after buying an additional 50 shares in the last quarter. Hardy Reed LLC lifted its stake in shares of Cheniere Energy by 2.3% during the 3rd quarter. Hardy Reed LLC now owns 2,279 shares of the energy company's stock valued at $536,000 after buying an additional 52 shares in the last quarter. Keel Point LLC lifted its stake in shares of Cheniere Energy by 5.2% during the 3rd quarter. Keel Point LLC now owns 1,111 shares of the energy company's stock valued at $261,000 after buying an additional 55 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its stake in shares of Cheniere Energy by 3.9% during the 4th quarter. Waterfront Wealth Inc. now owns 1,486 shares of the energy company's stock valued at $311,000 after buying an additional 56 shares in the last quarter. Institutional investors own 87.26% of the company's stock.

Cheniere Energy Stock Down 0.9%

Shares of NYSE:LNG opened at $238.81 on Friday. Cheniere Energy, Inc. has a 1 year low of $186.20 and a 1 year high of $300.89. The business has a 50 day simple moving average of $256.13 and a two-hundred day simple moving average of $230.19. The firm has a market capitalization of $50.04 billion and a PE ratio of 39.28. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.57 and a quick ratio of 0.48.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its earnings results 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). The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.69 billion. Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.57 EPS. On average, equities analysts predict that Cheniere Energy, Inc. will post 14.93 EPS for the current year.

Cheniere Energy declared that its board has initiated a share buyback plan on Thursday, February 26th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the energy company to purchase up to 21.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Cheniere Energy Announces Dividend

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

Insider Transactions at Cheniere Energy

In other news, CFO Zach Davis sold 29,000 shares of the stock in a transaction that occurred on 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 directly owned 87,146 shares in the company, valued at approximately $26,143,800. This trade represents a 24.97% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on 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 approximately $18,622,720. This represents a 25.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group set a $290.00 target price on shares of Cheniere Energy in a research note on Wednesday, May 13th. The Goldman Sachs Group boosted their price target on shares of Cheniere Energy from $276.00 to $312.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Scotiabank reiterated an "outperform" rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. Bank of America boosted their price target on shares of Cheniere Energy from $296.00 to $322.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Finally, Benchmark reiterated an "outperform" rating on shares of Cheniere Energy in a research note on Tuesday, May 26th. 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.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $298.63.

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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