Cheniere Energy, Inc. $LNG Shares Sold by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management cut its Cheniere Energy stake by 27.7% in the fourth quarter, selling 23,384 shares and leaving it with 61,075 shares worth about $11.9 million.
• Cheniere reported a sharp earnings miss for the latest quarter, posting EPS of -$16.65 versus expectations of $4.25, even though revenue of $5.87 billion came in above estimates and rose 7.8% year over year.
• The company’s board authorized a $10 billion share repurchase plan and recently paid a quarterly dividend of $0.555 per share, while analysts remain mostly positive with a consensus Buy rating and average price target of $293.50.

Flputnam Investment Management Co. trimmed its position in Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,075 shares of the energy company's stock after selling 23,384 shares during the period. Flputnam Investment Management Co.'s holdings in Cheniere Energy were worth $11,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cheniere Energy by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,219,557 shares of the energy company's stock valued at $4,124,870,000 after acquiring an additional 414,022 shares during the period. State Street Corp increased its position in shares of Cheniere Energy by 6.7% in the 3rd quarter. State Street Corp now owns 6,007,073 shares of the energy company's stock valued at $1,411,542,000 after acquiring an additional 377,369 shares during the period. Victory Capital Management Inc. increased its position in shares of Cheniere Energy by 21.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company's stock valued at $475,633,000 after acquiring an additional 359,123 shares during the period. Northern Trust Corp increased its position in shares of Cheniere Energy by 5.6% in the 3rd quarter. Northern Trust Corp now owns 1,786,636 shares of the energy company's stock valued at $419,824,000 after acquiring an additional 95,545 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Cheniere Energy by 2.8% in the 3rd quarter. American Century Companies Inc. now owns 1,776,978 shares of the energy company's stock valued at $417,554,000 after acquiring an additional 47,619 shares during the period. 87.26% of the stock is owned by institutional investors and hedge funds.

Cheniere Energy Price Performance

NYSE:LNG opened at $234.54 on Wednesday. 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. The stock has a market capitalization of $49.15 billion, a PE ratio of 38.58 and a beta of 0.07. The stock's 50-day moving average price is $262.79 and its 200-day moving average price is $229.12.

Cheniere Energy (NYSE:LNG - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported ($16.65) EPS for the quarter, missing analysts' consensus estimates of $4.25 by ($20.90). Cheniere Energy had a net margin of 7.23% and a return on equity of 38.95%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.69 billion. During the same quarter last year, the business earned $1.57 earnings per share. Cheniere Energy's revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Cheniere Energy, Inc. will post 15.2 EPS for the current fiscal year.

Cheniere Energy declared that its board has initiated a stock repurchase plan on Thursday, February 26th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the energy company to reacquire up to 21.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Cheniere Energy Announces Dividend

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

Insider Activity at Cheniere Energy

In other news, EVP Sean N. Markowitz sold 22,246 shares of Cheniere Energy stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $290.98, for a total transaction 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. The trade was a 25.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zach Davis sold 29,000 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 87,146 shares of the company's stock, valued at approximately $26,143,800. The trade was a 24.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America upped their target price on Cheniere Energy from $296.00 to $322.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Royal Bank Of Canada lifted their price objective 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 lifted their price objective on Cheniere Energy from $276.00 to $312.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. TD Cowen lifted their price objective on Cheniere Energy from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, UBS Group set a $290.00 price objective on Cheniere Energy in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $293.50.

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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