The Manufacturers Life Insurance Company Decreases Stock Holdings in Cheniere Energy, Inc. $LNG

Key Points

• The Manufacturers Life Insurance Company reduced its position in Cheniere Energy, Inc. by 5.4%, making it their 7th largest investment, valued at approximately $1.24 billion.
• Cheniere Energy reported significant earnings, with $7.30 earnings per share in Q2, surpassing estimates and showing a 42.8% increase in year-over-year revenue.
• Analysts have upgraded the stock's target prices, with recent ratings reflecting a generally favorable outlook, including a consensus target of $261.93 and multiple "buy" ratings.

The Manufacturers Life Insurance Company lowered its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,372,415 shares of the energy company's stock after selling 309,431 shares during the quarter. Cheniere Energy accounts for 1.2% of The Manufacturers Life Insurance Company's holdings, making the stock its 7th biggest position. The Manufacturers Life Insurance Company owned approximately 2.41% of Cheniere Energy worth $1,243,177,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LNG. Nuveen LLC acquired a new position in Cheniere Energy during the 1st quarter worth approximately $294,793,000. Two Sigma Advisers LP boosted its position in Cheniere Energy by 84.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,651,500 shares of the energy company's stock worth $354,858,000 after acquiring an additional 756,900 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Cheniere Energy by 12.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,660,545 shares of the energy company's stock worth $1,078,450,000 after acquiring an additional 534,033 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Cheniere Energy by 346.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 568,627 shares of the energy company's stock worth $131,580,000 after purchasing an additional 441,296 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cheniere Energy by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,185,605 shares of the energy company's stock worth $737,149,000 after purchasing an additional 359,435 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company's stock.

Cheniere Energy Stock Performance

LNG traded down $0.50 during trading hours on Monday, reaching $241.64. The company's stock had a trading volume of 1,655,524 shares, compared to its average volume of 1,730,234. Cheniere Energy, Inc. has a 52 week low of $175.14 and a 52 week high of $257.65. The company's 50-day moving average is $235.39 and its 200-day moving average is $230.09. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.98. The firm has a market cap of $53.10 billion, a PE ratio of 14.11 and a beta of 0.43.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported $7.30 earnings per share for the quarter, topping the consensus estimate of $2.35 by $4.95. The firm had revenue of $4.64 billion for the quarter, compared to analysts' expectations of $4.48 billion. Cheniere Energy had a return on equity of 37.83% and a net margin of 21.05%.The company's quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.84 EPS. On average, equities analysts forecast that Cheniere Energy, Inc. will post 11.69 EPS for the current year.

Cheniere Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were given a dividend of $0.50 per share. The ex-dividend date was Friday, August 8th. This represents a $2.00 annualized dividend and a yield of 0.8%. Cheniere Energy's dividend payout ratio (DPR) is presently 11.68%.

Insiders Place Their Bets

In other Cheniere Energy news, Director Neal A. Shear sold 4,300 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $245.93, for a total transaction of $1,057,499.00. Following the transaction, the director owned 29,733 shares in the company, valued at $7,312,236.69. This trade represents a 12.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LNG. Jefferies Financial Group set a $288.00 price objective on Cheniere Energy and gave the stock a "buy" rating in a research note on Thursday, June 26th. TD Cowen upped their price objective on Cheniere Energy from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Bank of America upped their price objective on Cheniere Energy from $258.00 to $271.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Mizuho upped their price objective on Cheniere Energy from $268.00 to $273.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Cowen reiterated a "buy" rating on shares of Cheniere Energy in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $263.29.

About Cheniere Energy

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.