CenterBook Partners LP Grows Holdings in Cheniere Energy, Inc. $LNG

Key Points

• CenterBook Partners LP more than doubled its Cheniere Energy stake in Q4, boosting holdings by 110.7% to 21,097 shares valued at about $4.1 million.
• Several analysts remain upbeat on LNG, with recent price-target increases from firms like TD Cowen, Barclays, Goldman Sachs, and RBC; the consensus rating is Buy with an average target of $298.63.
• Cheniere reported a sharp quarterly earnings miss, posting -$16.65 EPS versus expectations of $4.25, even as revenue topped estimates at $5.87 billion; the company also authorized a $10 billion share buyback and paid a $0.555 quarterly dividend.

CenterBook Partners LP boosted its holdings in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 110.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,097 shares of the energy company's stock after purchasing an additional 11,085 shares during the quarter. CenterBook Partners LP's holdings in Cheniere Energy were worth $4,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNG. Kohmann Bosshard Financial Services LLC bought a new position in Cheniere Energy in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in Cheniere Energy in the 3rd quarter worth approximately $27,000. Accordant Advisory Group Inc bought a new position in Cheniere Energy in the 4th quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new position in Cheniere Energy in the 4th quarter worth approximately $43,000. Finally, Lodestone Wealth Management LLC bought a new position in Cheniere Energy in the 4th quarter worth approximately $46,000. 87.26% of the stock is currently owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have weighed in on LNG shares. TD Cowen upped their price target on Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Barclays upped their price target on Cheniere Energy from $259.00 to $271.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. The Goldman Sachs Group upped their price target on Cheniere Energy from $276.00 to $312.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Scotiabank restated an "outperform" rating on shares of Cheniere Energy in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada upped their price target on Cheniere Energy from $286.00 to $300.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cheniere Energy presently has an average rating of "Buy" and an average price target of $298.63.

Cheniere Energy Stock Down 0.9%

Shares of LNG opened at $236.61 on Tuesday. The company has a market cap of $49.58 billion and a PE ratio of 38.92. The business has a fifty day moving average of $255.04 and a 200 day moving average of $230.46. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 2.55.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.25 by ($20.90). Cheniere Energy had a return on equity of 38.95% and a net margin of 7.23%.The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Cheniere Energy, Inc. will post 14.93 EPS for the current year.

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

Cheniere Energy Announces Dividend

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

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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