Cheniere Energy, Inc. $LNG Shares Sold by ELCO Management Co. LLC

Key Points

• ELCO Management reduced its Cheniere Energy stake by 39.5% in the fourth quarter, though the position still represented its 6th-largest holding and was worth about $6.0 million.
• Cheniere reported quarterly earnings of ($16.65) per share, missing analyst expectations, even as revenue rose 7.8% year over year to $5.87 billion.
• The company also announced a $10 billion share repurchase program and a quarterly dividend of $0.555 per share, while analysts currently rate the stock a consensus Moderate Buy.

ELCO Management Co. LLC cut its position in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 39.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,104 shares of the energy company's stock after selling 20,282 shares during the quarter. Cheniere Energy comprises 3.8% of ELCO Management Co. LLC's portfolio, making the stock its 6th biggest position. ELCO Management Co. LLC's holdings in Cheniere Energy were worth $6,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cheniere Energy by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company's stock worth $4,124,870,000 after acquiring an additional 414,022 shares during the last quarter. State Street Corp increased its stake in Cheniere Energy by 6.7% during the third quarter. State Street Corp now owns 6,007,073 shares of the energy company's stock worth $1,411,542,000 after acquiring an additional 377,369 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cheniere Energy by 21.5% during the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company's stock worth $475,633,000 after acquiring an additional 359,123 shares during the last quarter. Northern Trust Corp increased its stake in Cheniere Energy by 5.6% during the third quarter. Northern Trust Corp now owns 1,786,636 shares of the energy company's stock worth $419,824,000 after acquiring an additional 95,545 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Cheniere Energy by 2.8% during the third quarter. American Century Companies Inc. now owns 1,776,978 shares of the energy company's stock worth $417,554,000 after acquiring an additional 47,619 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cheniere Energy

In related news, EVP Sean N. Markowitz sold 22,246 shares of the firm's stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $290.98, for a total value of $6,473,141.08. Following the sale, the executive vice president owned 64,000 shares of the company's stock, valued at approximately $18,622,720. This trade represents a 25.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Zach Davis sold 29,000 shares of the firm'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 value of $8,700,000.00. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.55% of the company's stock.

Cheniere Energy Trading Up 0.2%

NYSE:LNG opened at $240.56 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.74. The business's 50 day moving average is $264.30 and its two-hundred day moving average is $226.99. Cheniere Energy, Inc. has a 52 week low of $186.20 and a 52 week high of $300.89. The company has a market cap of $50.55 billion, a PE ratio of 39.57 and a beta of 0.07.

Cheniere Energy (NYSE:LNG - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The energy company reported ($16.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $4.25 by ($20.90). The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.69 billion. Cheniere Energy had a return on equity of 36.34% and a net margin of 7.23%.The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. On average, analysts predict that Cheniere Energy, Inc. will post 13.97 EPS for the current year.

Cheniere Energy announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the energy company to reacquire up to 21.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Cheniere Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, May 11th will be issued a $0.555 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.22 annualized dividend and a dividend yield of 0.9%. Cheniere Energy's dividend payout ratio (DPR) is 36.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their price target on Cheniere Energy from $280.00 to $271.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. Scotiabank increased their target price on Cheniere Energy from $285.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Royal Bank Of Canada increased their target price on Cheniere Energy from $286.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, April 14th. The Goldman Sachs Group increased their target price on Cheniere Energy from $276.00 to $312.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Finally, BMO Capital Markets increased their target price on Cheniere Energy from $265.00 to $306.00 and gave the company an "outperform" rating in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.50.

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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