Cheniere Energy, Inc. $LNG Holdings Lowered by Spirit of America Management Corp NY

Key Points

• Spirit of America Management Corp NY has reduced its holdings in Cheniere Energy by 22.2%, now owning 37,250 shares valued at $9,071,000.
• Cheniere Energy reported earnings of $7.30 per share for the recent quarter, significantly exceeding analysts' expectations of $2.35 by over $4.95.
• Several analysts have set target prices for Cheniere Energy, with Jefferies Financial Group setting it at $288.00 and Mizuho at $273.00, reflecting a bullish outlook on the stock.

Spirit of America Management Corp NY cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 22.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,250 shares of the energy company's stock after selling 10,625 shares during the quarter. Cheniere Energy accounts for approximately 1.9% of Spirit of America Management Corp NY's holdings, making the stock its 4th biggest holding. Spirit of America Management Corp NY's holdings in Cheniere Energy were worth $9,071,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LNG. Pinnacle Bancorp Inc. raised its stake in shares of Cheniere Energy by 134.1% during the second quarter. Pinnacle Bancorp Inc. now owns 103 shares of the energy company's stock worth $25,000 after acquiring an additional 59 shares in the last quarter. Hilltop National Bank purchased a new position in shares of Cheniere Energy during the second quarter worth approximately $28,000. Richardson Financial Services Inc. purchased a new position in shares of Cheniere Energy during the second quarter worth approximately $30,000. Cooksen Wealth LLC purchased a new position in shares of Cheniere Energy during the first quarter worth approximately $38,000. Finally, WPG Advisers LLC purchased a new position in shares of Cheniere Energy during the first quarter worth approximately $38,000. 87.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on LNG shares. Jefferies Financial Group set a $288.00 target price on shares of Cheniere Energy and gave the stock a "buy" rating in a research note on Thursday, June 26th. Mizuho lifted their target price 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. Scotiabank reaffirmed an "outperform" rating on shares of Cheniere Energy in a research note on Tuesday, July 15th. Barclays reaffirmed an "overweight" rating and issued a $262.00 target price (up from $253.00) on shares of Cheniere Energy in a research note on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cheniere Energy in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $266.93.

Cheniere Energy Stock Performance

NYSE:LNG opened at $218.67 on Friday. The stock has a market cap of $48.06 billion, a P/E ratio of 12.77 and a beta of 0.37. The firm's fifty day simple moving average is $234.02 and its 200 day simple moving average is $232.74. Cheniere Energy, Inc. has a twelve month low of $180.62 and a twelve month high of $257.65. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 1.96.

Cheniere Energy (NYSE:LNG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $2.35 by $4.95. The business had revenue of $4.64 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 earnings per share. As a group, research analysts predict that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Profile

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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