Cheniere Energy, Inc. $LNG Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments cut its stake in Cheniere Energy by 29.8% in Q4, selling 12,028 shares and ending the period with 28,270 shares valued at about $5.495 million.
• Two insiders sold substantial positions in late March: EVP Sean Markowitz sold 22,246 shares for ~$6.47 million and CFO Zach Davis sold 29,000 shares for $8.7 million, each reducing their ownership by roughly 25%.
• Cheniere reported a blowout quarter with EPS of $10.68 versus $3.90 expected and its board authorized a up-to-$10.0 billion buyback program to repurchase as much as 21.1% of outstanding shares.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Cheniere Energy, Inc. (NYSE:LNG - Free Report) by 29.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,270 shares of the energy company's stock after selling 12,028 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Cheniere Energy were worth $5,495,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Cheniere Energy by 6.7% during the third 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 in the last quarter. Victory Capital Management Inc. grew its stake in Cheniere Energy by 21.5% in the third quarter. Victory Capital Management Inc. now owns 2,025,609 shares of the energy company's stock worth $475,633,000 after purchasing an additional 359,123 shares in the last quarter. Northern Trust Corp grew its stake in Cheniere Energy by 5.6% in the third quarter. Northern Trust Corp now owns 1,786,636 shares of the energy company's stock worth $419,824,000 after purchasing an additional 95,545 shares in the last quarter. American Century Companies Inc. grew its stake in Cheniere Energy by 2.8% in the third quarter. American Century Companies Inc. now owns 1,776,978 shares of the energy company's stock worth $417,554,000 after purchasing an additional 47,619 shares in the last quarter. Finally, Amundi grew its stake in Cheniere Energy by 11.9% in the third quarter. Amundi now owns 1,682,831 shares of the energy company's stock worth $392,537,000 after purchasing an additional 178,316 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cheniere Energy

In other Cheniere Energy news, EVP Sean N. Markowitz sold 22,246 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 64,000 shares of the company's stock, valued at $18,622,720. This trade represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zach Davis sold 29,000 shares of Cheniere Energy stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $300.00, for a total value of $8,700,000.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank Of Canada lifted 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. TD Cowen lifted their price target on Cheniere Energy from $250.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Weiss Ratings raised shares of Cheniere Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 18th. JPMorgan Chase & Co. cut their target price on shares of Cheniere Energy from $338.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 14th. Finally, UBS Group raised their target price on shares of Cheniere Energy from $305.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Cheniere Energy currently has an average rating of "Moderate Buy" and an average price target of $293.00.

Cheniere Energy Stock Performance

Shares of NYSE LNG opened at $252.39 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 firm's 50-day moving average price is $254.84 and its two-hundred day moving average price is $224.14. Cheniere Energy, Inc. has a 52-week low of $186.20 and a 52-week high of $300.89. The stock has a market capitalization of $53.04 billion, a P/E ratio of 10.39 and a beta of 0.14.

Cheniere Energy (NYSE:LNG - Get Free Report) last issued its earnings results on Wednesday, February 25th. The energy company reported $10.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.90 by $6.78. Cheniere Energy had a net margin of 26.68% and a return on equity of 32.04%. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.48 billion. During the same quarter last year, the company posted $4.33 earnings per share. Cheniere Energy's revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts forecast that Cheniere Energy, Inc. will post 14.16 earnings per share for the current year.

Cheniere Energy declared that its board has initiated a stock buyback program on Thursday, February 26th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the energy company to buy up to 21.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Cheniere Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were issued a $0.555 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $2.22 dividend on an annualized basis and a yield of 0.9%. Cheniere Energy's dividend payout ratio (DPR) is currently 9.14%.

Cheniere Energy 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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