Bank of New York Mellon Corp Takes $502.01 Million Position in Cheniere Energy, Inc. $LNG

Key Points

• Bank of New York Mellon purchased 2.1 million Cheniere Energy shares worth approximately $502 million, representing about 1% of the company. Institutional investors collectively own 87.26% of LNG.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $301.56; TD Cowen recently raised its target to $290.
• Cheniere reported quarterly revenue of $5.73 billion, up 23.5% year over year, though earnings of $3.02 per share fell short of estimates. The company also paid a quarterly dividend of $0.555 per share, equating to an annualized yield of 0.8%.

Bank of New York Mellon Corp purchased a new stake in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,100,394 shares of the energy company's stock, valued at approximately $502,015,000. Bank of New York Mellon Corp owned about 1.00% of Cheniere Energy at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Horizon Corp boosted its stake in Cheniere Energy by 7.7% in the first quarter. First Horizon Corp now owns 517 shares of the energy company's stock valued at $147,000 after acquiring an additional 37 shares during the last quarter. Signal Advisors Wealth LLC increased its stake in shares of Cheniere Energy by 2.9% during the 1st quarter. Signal Advisors Wealth LLC now owns 1,497 shares of the energy company's stock worth $425,000 after purchasing an additional 42 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of Cheniere Energy by 6.8% during the 1st quarter. Independence Bank of Kentucky now owns 725 shares of the energy company's stock worth $206,000 after purchasing an additional 46 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of Cheniere Energy by 54.5% in the 1st quarter. Optiver Holding B.V. now owns 136 shares of the energy company's stock worth $39,000 after purchasing an additional 48 shares during the period. Finally, AlTi Global Inc. raised its holdings in shares of Cheniere Energy by 1.5% in the 1st quarter. AlTi Global Inc. now owns 3,318 shares of the energy company's stock worth $942,000 after purchasing an additional 50 shares during the period. 87.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LNG has been the subject of a number of research reports. TD Cowen increased their target price on shares of Cheniere Energy from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Sanford C. Bernstein started coverage on Cheniere Energy in a research note on Tuesday, June 16th. They issued a "market perform" rating and a $283.00 target price on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a report on Wednesday, May 13th. Wall Street Zen upgraded Cheniere Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Barclays upped their price target on shares of Cheniere Energy from $274.00 to $279.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $301.56.

Cheniere Energy Trading Down 0.7%

LNG opened at $277.22 on Friday. The firm has a market cap of $57.25 billion, a P/E ratio of 20.64 and a beta of -0.01. The company has a current ratio of 0.87, a quick ratio of 0.72 and a debt-to-equity ratio of 1.97. The stock has a 50-day moving average of $255.16 and a 200 day moving average of $250.74. Cheniere Energy, Inc. has a 12 month low of $186.20 and a 12 month high of $300.89.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The energy company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.11 by ($0.09). The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $4.92 billion. Cheniere Energy had a return on equity of 29.80% and a net margin of 13.57%.The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.30 earnings per share. As a group, research analysts forecast that Cheniere Energy, Inc. will post 16.36 EPS for the current year.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Monday, August 10th were paid a $0.555 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.22 dividend on an annualized basis and a yield of 0.8%. Cheniere Energy's dividend payout ratio (DPR) is presently 16.53%.

Cheniere Energy 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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